This is a graph we don't show too often but it demonstrates the consistency of the San Francisco real estate market annual cycles. This shows five years of data and. Current year is solid dark red (single family homes) and solid green (condos). Six weeks ago we saw the peak of new listings right after the Labor Day holiday and as has been the case every year the number of new listings declines and will continue to decline until after New Year.
In the last two weeks the total number of new listings fell to 290 compared to 351 in the prior period. A year ago the number was virtually identical (289). The decline was most notable in single family homes which dropped 26% compared to the previous period (114 vs 154). Condos fell 11% (176 vs 197).
In both categories the number of new listings that went into contract in the last two weeks increased. Single family homes went from 15.8% compared to 14.3% in the prior period and compared to 10.5% a year ago. Condos increased to 13.1% compared to 11.2% in the prior period and compared to 10.9% a year ago.
The number of price reductions fell compared to the prior period. There were 23 single family homes price reductions compared to 41 in the prior period and compared to 33 a year ago. There were 70 condo price reductions compared to 95 in the prior period and compared to 58 a year ago.
The full report can be found at our web site: www.boldsf.com/Statistics
