"The pool of available homes shrank dramatically - only 552 active listings remained in February, down 27.9% from a year ago. Nationally, inventory actually grew 7.9% over the same period."
"The median list price in San Francisco came in at $1,130,000 in February - down 2.8% year over year, slightly more than the national dip of 2.1%. Only 4.4% of listings took a price cut, compared to 15.5% nationally."
"The typical San Francisco home spent just 47 days on the market in February - a 21.2% drop from a year ago."
San Francisco's real estate market is experiencing a significant tightening, with active listings down nearly 28% year over year. Only 552 homes were available in February, leading to fewer options for buyers compared to the national market. The median list price is $1,130,000, a slight dip from the previous year, but sellers are not reducing prices significantly. Homes are selling much faster, with an average of 47 days on the market, indicating a competitive environment favoring sellers.
Read at SFGATE
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