Inventory of Single Family Homes Varies Widely

The real estate market ebbs and flows. Earlier this year, the central neighborhoods that are so popular these days had little inventory and fast absorbtion while inventory seemed to sit in the neighborhoods on the North side of the City.

Central Neighborhoods Single Family Home Inventory of $2mil+ Homes

Northern Neighborhood Single Family Home Inventory of $2mil+ Homes

Now…the central neighborhoods have had a build-up of $2mil+ homes that is now standing at a 14 month supply while the Northern neighborhoods (i.e. Pacific Heights) is sitting with only a 3 month supply. It seems there have been a lot of sellers in the central neighborhoods sitting on the sidelines who saw the Spring activity but who were late to the party. Now, we’ll see how things shake out in the Fall market.