I've been away from the blog for a while but, as far as inventory is concerned, you haven't missed much. We continue to have lower than normal inventory and lots of demand. And even in San Francisco that's a formula for lots of competition and, ultimately, sales prices exceeding asking prices by an average 7-20%.
From our latest report here's a graph showing new listings (single family homes and condos) during each two week period.
We've been doing this report for almost two years so you can see that compared to last year inventory has followed the same cycle (as it does most years) with the lowest inventory between Thanksgiving and Christmas and then a steady climb into the spring market. The difference is the number of new listings during each two week period this year is noticeably lower than it was last year.
The full report can be found at this link.