Signs of Typical Fall Inventory Uptick

 Heading into the Labor Day weekend we're seeing signs of the usual increase in inventory typical in early September. 

As you can see from this overly busy graphic, the number of active listings increases in September, October and early November every year regardless of recession or pandemic. (These numbers are calculated in the first week of each month.  When Labor day falls in the latter part of the first week of September the increase in listings doesn't show up until the early October figure).

The other indication is the increase in "Coming Soon" listings in the MLS.  In San Francisco the number of "coming soon" listings has increased from 170 to 196 in just seven days.  Most of the "coming soon" listings are condos -- 136 compared to 120 a week ago.  "Coming soon" single family home listings increased to 60 compared to 50 a week ago.

Active Listing Down -- Closed Sales Up

 Active listings as of 8/2/21 in San Francisco dropped approximately 9% compared to the prior week (900 compared to 957).  The percentage drop was the same for both single family homes (257 compared to 287) and condos (643 compared to 670).

The number of closed sales of single family homes in July was approximately the same as July 2020 (235 vs 237).  Condos was a different story with 330 closed sales compared to 274 a year ago -- a 20% increase.

The full report can be found in the "3 County Comparison Report" on our website which includes data for San Francisco, Marin and Sonoma counties:

http://www.boldsf.com/Statistics%20test/Statistics.html