Noe Valley had – unsurprisingly – another strong month with the “leading” MSI (months supply of inventory) indicator down 18% year over year while the “trailing” MSI is down 58%. See below for definitions of both the leading and trailing months supply of inventory calculations.
Regardless of how you calculate it, inventory in Noe Valley – and across San Francisco – is incredibly low. The MSI for Noe Valley (leading) peaked last December at about 3.6 months supply of inventory, compared to this past October which ended the month with about 1.6 months supply of inventory. MSI in Noe Valley hit a low of 1.0 in February of this year, which buyers experienced as writing multiple offers and sellers experienced as receiving multiple offers! As we head into the quiet time of the year for San Francisco real estate, expect to see a slight easing (increase) in MSI.
MSI-UC
The “leading indicator” method of calculating MSI divides the number of properties currently for sale by the number of properties that went under contract.
MSI-Sold
The “trailing indicator” method divides the number of properties currently for sale by the number of properties that sold (closed escrow).
Data obtained from the SFARMLS is deemed reliable but not warranted. Your mileage may vary. If you have specific questions about a neighborhood or your property, don’t hesitate to get in contact or leave a comment below.
