Real Estate Update – Mid Peninsula
Dan Gilmartin reviews the weekly home inventory numbers.
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Hi, this is Dan Gilmartin, part of the Gilmartin Group Real Estate Company in Burlingame, California, April 22nd 2019, with your Monday Morning Market Minute.
Single family inventory from South San Francisco to Redwood City right now is 147, thats actually down from 157 of last week. We had 30 homes come onto the market and 40 homes go into contract thats exactly the number we like to see for a healthy market week in and week out.
Condominiums right now, 73 condominiums on the market thats up slightly from last weeks 72. We had 13 condominiums come onto the market and we had 16 condominiums go into contract thats a great number and even better than last weeks 15!
So total total from South San Francisco to Redwood City inventory is 220, thats down from 228 of last week and that is a huge story because leading up to a holiday week having inventory go down is very very unusual. Last year at this time that number was 205 and actually that number was up week over week. Last year before the holiday week inventory actually rose. So why am i bringing this up? This makes for a very interesting conversation for our podcast Beyond the Minute where we are going to discuss how that really explains whats going on with this market place. It certainly shows that this market place, right now, although there is more inventory there was than last year at this time is extremely healthy! Also we do record the podcast right after the Monday Morning Market Minute, it takes about 24 hour to get the podcast out so if you are seeing this right when it lands and you are wondering where the podcast is just know that its coming.
Thanks for listening and Have a great day and we will talk to you next week!