Inventory of Homes for Sale in San Francisco Hits a 5-Year High

By Real Estate February 6, 2017

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

About the Author
Adam Ettenson, Broker / Owner

Adam’s real estate experience encompasses residential sales, renovations, real estate development, property and asset management, and multifamily investment acquisitions. He has helped countless clients buy and sell property throughout the Bay Area, including in San Francisco, Marin County, Alameda County, San Mateo County, and Santa Clara County. He has overseen the condo conversion and major renovation of a two-unit building, and has worked on several affordable housing residential development projects with budgets exceeding $20 million, helping low-income families secure safe, affordable housing. He is currently working on a project that entails adding a condo unit to an existing building as well as a major horizontal expansion and renovation, increasing the total square footage to approximately 1500 square feet. Prior to working in real estate, Adam practiced immigration law and real estate law. His extensive background as an attorney and his broad real estate experience allow him to faithfully advance his clients’ interests in both the purchase and sale of real estate. Adam’s clients benefit from strong negotiation skills, contractual expertise, and deep knowledge of local rules and regulations.