Real Estate Update – Mid Peninsula
Dan Gilmartin reviews the weekly home inventory numbers.
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Transcript – Hi, this is Dan Gilmartin, part of the Gilmartin Group Real Estate Company in Burlingame, California, April 24th 2017 with your Monday Morning Market Minute. Okay, single-family inventory from South San Francisco to Redwood City right now is 147. That’s way up from 106 of last week. We had 69 homes come on the market, and we only had 28 homes go into contract — that’s well below the 40-number that we like to see. Condominiums, we have 55 condominiums on the market. We had 22 homes come on the market, and we only had 11 condominiums go into contract. So, total-total, single-family homes and condominiums, from South City to Redwood City, the inventory is 202 — that’s way up from 151, but last year at this time, that inventory was 242. So if you thought that last year was good, this year is still even better. So if you’re thinking of selling you home, it’s still a good time, but the good news is there’s a little breathing room for the buyers right now. And also, I think that the low sales last week has contributed to the spring break. Hey, thanks for listening, have a great day, and I’ll talk to you next week.