The San Francisco real estate market is back and initial indicators are signaling a new cycle is upon us, particularly in the condo/tic segment. Inventory has surged back in numbers that buyers will embrace — condo sellers not so much.
In the last two years condo inventory has usually been 4-6 weeks of inventory. On June 1 1/1, 2/1, and 2/2 condo configurations have 23, 14, and 26 weeks of inventory respectively. All condo inventory is up to 24 weeks.
Single family homes have seen a more modest increases in inventory. Total inventory has risen to 10 weeks but 2/1 and 3/2 configurations have only 3 weeks and 6 weeks of inventory respectively.
TBD — are we in a buyers market for condos?
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