While prices for new construction condos in San Francisco are down slightly from this time last year, demand for the city’s limited inventory continues. This is according to a new November trend sheet from The Mark Company, which shares insights on urban residential sales.

Currently, there are 778 new construction condos available for sale in San Francisco, averaging at $1,171 per square foot, according to the pricing index. That’s down 3 percent from November, 2016, but up 5 percent month-over-month. That’s likely due to an increase in late-year sales, including buildings like Knox in Dogpatch and 1450 Franklin St. in Pacific Heights. Both sold out of inventory in just months. 

The city’s resale market is also going strong, with 266 sales in the last 12 months. That’s up 14 percent from November of last year. Pricing for resale units is currently at $1,057 per square foot, also up 14 percent from November 2016.