Depleted by listings which were withdrawn from the MLS over the holidays, many of which are likely to soon return to the market as “new,” perhaps with unofficial price reductions as well, the inventory of homes listed for sale in San Francisco currently totals 255.
While that might seem like a rather meager number, it’s 40 percent higher than at the same time last year and the highest New Year’s inventory since 2013. And it’s a number that poised to soon grow.
At a more granular level, the number of single-family homes actively listed for sale in San Francisco currently totals 95, which is 60 percent higher than at the same time last year, while the number of listed condos totals 160, which is 30 percent higher than at the start of 2016. But the listed condo inventory doesn’t include the vast majority of new construction units on the market, a number which currently totals around 1,000 and is running 80 percent higher versus the same time last year.
With history as our guide, expect the pace of new listings and overall inventory levels for homes in San Francisco to climb through June or July before retreating for the annual summer slowdown.