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New Listings & Price Reductions

The number of price reductions in September also increased: 37% over 2017 and 18% over 2016. October is usually one of the two biggest months of the year for price reductions as sellers of unsold listings make a last attempt to grab the attention of buyers before the mid-winter slowdown begins in mid-November.
What will tell us most about where the market is heading is how buyers respond to these new listings and price reductions, and that information won’t be available until autumn’s listings have time to accept offers, and accepted offers have time to close escrow – in quantity – to give us their data. October is usually a very big month for sales in San Francisco as buyers jump on the surge of listings.