Most Sub-Million Dollar Homes on the Market in SF since 2012
With a hundred more new listings than offers written over the past week, the overall inventory of homes actively listed for sale in San Francisco ticked up another 13 percent to 870, which is 26 percent higher than at the same time last year and the most inventory since the end of 2011.
And the number of homes listed for under a million dollars (371) in the city is the highest since the fourth quarter of 2012.
At the same time, the percentage of listings for which the asking price has been reduced is running at 17 percent, ten points higher than at the same time last year. And in the absolute, the number of actively reduced listings (147) is three times higher.
The inventory numbers above do not include the vast majority of unlisted new construction condos on the market in sales offices across town, the inventory of which is currently running a little under 1,100 versus closer to 700 at the same time last year.