While there are roughly 60 percent more homes in contract across San Francisco (500) than there were at the same time last year, there are still 50 percent mores on the market (940) and 130 percent more listings for sub-million dollar homes (350).
And while the “expectation gap” between the average asking price per square foot of the homes which are still on the market ($1,027) and the average price per square foot of the homes which are in contract ($972) has ticked down to around 5 percent, the average list price of the homes which are in escrow is down around 4 percent versus the same time last year and there are twice as many reduced listings (180) on the MLS.
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