"December witnessed a remarkable 31.8% plunge in active listings in San Francisco compared to the previous year, leaving just 479 homes available. This was a stark departure from the national trend of a 12.1% increase in active listings, underscoring a unique situation in San Francisco. The number of newly listed homes also saw a decrease, dropping by 8.1% year-over-year to 114 homes. This significant tightening of inventory signaled a prime opportunity for sellers to capitalize on decreased competition."
"San Francisco's median listing price experienced a modest decrease of 2.9% from the previous year, settling at $1,055,225. This gentle decline was in contrast to the national median listing price drop of just 0.6%. Despite the reduction in listings, the low share of price reductions at 5.1%, down by 1.4 percentage points from the previous year, highlighted a strong sense of seller confidence, suggesting that well-priced homes continued to attract interest."
San Francisco's December housing market showed a sharp inventory decline, with active listings down 31.8% year-over-year to 479 and newly listed homes falling 8.1% to 114. Median listing price edged down 2.9% to $1,055,225, compared with a 0.6% national decline. Price reductions remained low at 5.1%, a 1.4 percentage-point decrease, indicating seller confidence. Median days on market held at 91 days, longer than the national median of 73 days, giving sellers more time to negotiate. The combined lower competition, modest price decline, and extended marketing window favored sellers seeking advantageous terms.
Read at SFGATE
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