Homes for Sale in San Francisco Goes Up
The inventory of homes actively listed for sale in San Francisco has jumped 18 percent over the past two weeks to 710, per SFMLS, and it is most likely driven by a slowdown in sales in addition to the typical post-Memorial Day uptick in new listing activity.
According to SocketSite,
“Inventory levels are now running 2% higher than at the same time last year and 42% higher than at the same time of the year back in 2015, with 28% of the homes now on the market listed for under a million dollars (versus 33% at the same time last year) and 15% of all list prices having been reduced at least once (versus 16% at the same time last year).”
Photo of Seacliff in San Francisco courtesy of David LaPlante
Expect inventory levels in San Francisco to continue to go up for another week or two before ticking down for a typical summertime lull through August, and then peaking in the fall.