patrick.net

Some additional info about number of sale:
94539: current sale (108), last year (153)
94087: current sale (118), last year (143)

Good data to see. I'm familiar with all of the above zip codes, and I have also used them to benchmark the overall state of the markets.

One observation that I have made is that the local Realtwhores have become much more aggressive about pruning/removing old listings that have expired or otherwise have not sold withing 3-6 months. In my estimation, this phenomenon accounts for nearly the entire drop in the number of listings.

A better way to see what is really going on is to see how many new houses are coming on the market each week, while also noting (as you did) that sales volume is down. That tells the story right there.

Now, in the more expensive areas the agents have not yet gotten aggressive about the pruning, partly because they are still dreaming that offers will eventually come in.

I'm certainly willing to listen to other theories, but this is what I have seen,

Is that a typo for 94539? Last time I counted on my fingers, I reached 160 before I got to 170. I'm just kidding, I know what your point is.