Weekly Market Charts

These charts from Broker Metrics track activity as reported to the SF Mulitiple Listing Service (MLS) for San Francisco houses, condos, co-ops, TICs and 2-4 unit buildings, by week, through 9/18/11.

Listings for Sale: inventory remains terribly low as compared to demand, though it is starting to creep up. But last year at this time, there were about 2500 active listings on the market in SF. During the week ending 9/18/11, there were only about 1800 – a huge drop in available inventory.

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New Listings Coming on Market: In September of 2010, we saw a large surge of new listings. This year the surge is smaller, at least so far in the month. In the comparable 2 weeks of September last year, 656 new listings hit the market. This year the number is about 420.

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Units Accepting Offers and Percent of Listings Accepting Offers: Activity is strong, especially as compared to the amount of inventory. Last year at the time, the percent of listings accepting offers was about 5%; this year it’s about 7% (a 40% increase), which is about as high as it ever gets.

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Units Sold: The number of homes closing escrow reflects accepted offer activity 4-8 prior. Closings in September so far are relatively low. Typically, closings will start to increase in a major way in late September and October.

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