Inventory

Anne Laury | October 8, 2021

Massive Movement in the San Francisco Housing Market

There is unprecedented activity in the residential housing market, which means more choices than usual when it comes to finding a home. Available inventory is at an all-time high. Both buyers and sellers benefit when more inventory is available in San Francisco. Buyers can finally enter the market with more options; sellers are getting top prices, and Bay Area moving, construction and residential services firms are thriving. 2020 ended as one of the most active in years, but 2021 is on track to be even better by a substantial margin.
New Listings in San Francisco
Record High Inventory in September 2021

Look at the 2021 vs 2020 and 2021 vs 2019 charts to appreciate how much inventory is moving through the market. There are 74% more new listings in September 2021 than in September 2019 (pre-COVID-19) and 22% more new listings than 2020. Buyers have more market power when there is a larger number of active listings competing for qualified and motivated buyers. Of course, with so much competition, some sellers whose homes are not priced competitively will be stuck on the sidelines. Buyers will pay more and compete for remodeled and updated homes that are attractively priced.


When is the Best Time to Buy?

Choosing a home when there are more options is better than deciding among just a few. Market watchers know, San Francisco’s available housing inventory ebbs and flows with the seasons, typically spiking in May, dropping in summer, elevating in September, and reaching a low point in December.
The Truth About Price Increases since COVID-19

Are the tales of bidding wars driving prices to all-time highs accurate? But how much higher are the prices in reality? Let's compare September 2019 to September 2021. At $1,750,000, the median price for a single-family home is up 15% from September 2019. The average price per square foot, $1,062 is up 7% from September 2019.
New Single-Family Homes Are Rare Finds 

According to the San Francisco Planning Department, 90% of new housing units added over the last five years are buildings with 20 or more units. In fact, just 34 single-family homes were added in 2020, a 63% decrease from 2019, and fewer than in the previous four years (amounts ranging from 37 to 93 single-family homes were added each year between 2016 and 2019).

Please stay in touch! My team and I are ready to help you find answers to any questions about the current market. Also, check out our new website: lauryteam.com.
 
 
 
San Francisco Is Back! Here's what's happening:
Opera 
Upcoming Mozart (Cosi Fan Tutte) and Beethoven (Fidelio) San Francisco Opera Events!
Music by Beethoven: October, 14, 17, 20, 22, 26, 30
Music by Mozart: November 21, 23, 27 & December 1, 3
Click here for tickets!
Ballet
Celebrating Helgi Tomasson 
Nutcracker
Swan Lake
 
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Museum
Upcoming exhibition: Patrick Kelly, Runway of Love at DeYoung Museum!
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Museum
The Contemporary Jewish Museum Presents: Experience Leonard Cohen
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Concert
Outside Lands is back! 
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