While the inventory of listed condos for sale in San Francisco only ticked up one percent over the past week, with new listings outnumbering new sales by just a few, the number of condos listed for sale on the MLS is now 57 percent higher versus the same time last year (which doesn’t include the vast majority of new construction units available for sale across the city).
And over the past week, the number of listings for condos in San Francisco for which the asking price has been reduced jumped from 14 to 20 percent, which is the highest percentage for this time of the year since 2013 and versus 8 percent at the end of April 2015.
Including single-family homes, the overall inventory of homes listed for sale in San Francisco is currently running 35 percent higher versus the same time last year, 16 percent of which have had at least one price reduction.
credit: socketsite