Monday, February 13, 2017

New Listing Watch -- inventory climbs

On the standard roller coaster (or sine wave, if you prefer) that represents activity in the San Francisco real estate market, inventory and new listings have begun to increase right on schedule.

The number of new listings going into contract within the last two weeks has eased off for single family homes (15% vs 22% two weeks ago) but ticked up slightly for condos (15% vs 12%).

The number of price reductions has risen.  For single family homes there were 10 reductions compared to just 1 two weeks ago and compared to 10 a year ago.  For condos, there were 21 price reductions vs 12 two weeks ago and 11 for the same period a year ago.

Clients sometimes feel they're kind of like these guys.  They have a great view but feel somewhat precarious:

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