For the sale of San Francisco houses, condos, TICs and 2-4 unit buildings by week through 9/25/11, as reported to MLS.
Units For Sale: There were about 275 fewer homes (about 13% fewer) for sale in the week ending 9/25/11 as there were a year ago. Inventory remains very low, especially as compared to buyer demand.
New Listings: The number of new listings coming on the market so far in September 2011 is down a whopping 29% from last year: over 250 fewer new listings this year. This is putting a large crunch on the market as compared to last year.
Units Accepting Offers: The number of homes accepting offers in week ending 9/25/11 was up about 10% from last year. Inventory down, the number of new listings way down, but homes going under contract going up = a significantly stronger market.
Percentage of Listings Accepting Offers: A relatively pure statistic of supply and demand. Last year, the percentage was 5% for the week ending 9/25/11; this year it’s about 7% (a historically very high percentage).
Listings Expiring or Withdrawn from Market: very low.
Listings Closing Escrow (Sold): September sales reflect July and August accepted-offer activity. September 2011 is running about the same as last year – albeit with much lower inventory levels. If inventory was higher, both the number of listings accepting offers and listings closing escrow would certainly be higher. Historically, closed sales should start picking up in the next couple weeks.