San Francisco Listings Hit a High Point for the Year
Despite the terrible fires, SF had a very active month in listings going into contract in August, hitting a high point for the year and matching the high points of recent years. Surprisingly, the fires did not significantly impact the number of deals being made in most Bay Area counties during the last 2 weeks of the month – the exceptions being Santa Cruz, Sonoma, Monterey and Napa Counties, which saw declines of 13% to 33%.
The number of active listings on the SF market has risen dramatically over the last few months, outpacing the increase in listings going into contract. However, there are significant differences between the house and condo markets, which are discussed later in the report.