Having ticked up another 6 percent over the past four weeks, the number of single-family homes and condos currently listed for sale in San Francisco now totals 615, the highest total at the beginning of April since 2012, at which point there were 658, and 10 percent higher versus the same time last year.
At a more granular level, the number of single-family homes currently listed for sale in the city (225) is now running 12 percent higher versus the same time last year while the number of listed condominiums (390) is 10 percent higher, not including the vast majority of unlisted new construction condos for sale across the city, the inventory of which currently totals over 1,000, which is 60 percent higher versus the same time last year.
In terms of pricing and expectations, 15 percent of the active listings in San Francisco have undergone at least one price reduction (versus 12 percent at the same time last year) and 34 percent of the homes on the market are currently listed for under a million dollars (versus 39 percent at the same time last year).
Expect inventory levels in San Francisco, which are on track to soon hit a six-year high, to continue to climb through June or July.