A Tale of Two Cities – A breakdown of Active Listings in San Francisco
Tuesday Tour and Tax Day prompted me to run a few numbers on the Active Listings in San Francisco. The total number of active real estate listings, not pending or contingent, and excluding any of the numerous new development listings that are not currently in the multiple listing service, totals 1545.
What caught my attention was the fact that close to half of all listings in San Francisco (42% to be exact) are in Districts 9 and 10 whereas only 58% of all active listings are in the entire rest of the city Districts 1-8.
On some levels the contrast is not as sharp as it initially appears, only in so much as Districts 9 and 10, which include South of Market, Potrero Hill, Bernal Heights, Mission Bay, Excelsior, Bayview, and Hunters Point take up geographically a large percentage of the actual land mass of the city and county of San Francisco, so one would expect there to be more listings.
Originally, I was looking to find, out of all the Active listings, what percentage had gone through price reductions (roughly 5%). However there was such a huge difference in the number of price reductions on a District by District basis that I ended up snooping further (District 9 had by far the most at 7% vs more or less 4% on average for the rest of the Districts in the city). 
What do I make of it?
Looking for the best negotiating room in San Francisco….head South. The Northern portions of the city are still seeing multiple offers for move-in condition well priced product. If you’re a Seller and you need to sell in South of Market – price it appropriately (well that goes for all of SF really, mistakes are just going to be more forgiving in the traditional neighborhoods).
