With the seasonal culling of unsold inventory in full swing, the net number of homes listed for sale in San Francisco dropped another 13 percent over the past week to 1,090 and will likely drop another 25-30 percent through the end of the year before climbing in January.
That being said, inventory levels are now running 175 percent higher than they were at the same time last year, with 200 percent more condos on the market and 120 percent more single-family homes.
And of those homes still listed for sale in the city, roughly 40 percent are now listed for under a million dollars (versus 26 percent at the same time last year) and 34 percent have undergone at least one price reduction (including 33 percent of the single-family homes and versus 28 percent of all active listings at the same time last year).
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