Inventory is increasing throughout SF. According to SocketSite, the number of San Francisco single family homes and condos is currently 45 percent higher than it was a year ago at this time. The total number of actively listed properties totals 475. This represents the highest total for this time since 2012. When broken down, active single families homes now total 155 which represents an increase of 28 percent year over year, and there are currently 320 condos on the market which is an increase of 55 percent year over year. As expected there is a correlation between increased inventory and decreased pricing. 16 percent of current listings have undergone at least one price reduction. Obviously other factors also impact market pricing, such as the increase of interest rates in recent weeks. As properties take longer to sell, it’s not difficult to see how inventory rates can begin to climb.
Read the Original Article Here: Inventory of Homes for Sale in San Francisco Hits a 5-Year High