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 26th 2021, at SMU, with your Monday Morning Market Minute.
Okay, single-family inventory from South San Francisco to Redwood City right now is 132. That’s down from 137 of last week. Amazing. We had 46 homes come on the market and 51 homes go into contract. Last week, that number was 55. As you guys know, 40 week in and week out is the number that we like to see. So we’re in the 50s, that means things are still hot, hot, hot.
Condominiums right now, we have 129 condominiums on the market. That’s actually up from 115 of last week. We had 39 condominiums come on the market, and 20 condominiums go to contract. Last week, again, that number was 26. 15, 18, 20, is always a great number. So still, 20, very, very, very healthy.
So, total-total, from South San Francisco to Redwood City, single-family homes and condominiums, inventory is 261. That’s up slightly from 252. The market continues to move forward. It is hot out there. We still need more inventory. So if you’re thinking of selling your home, timing is great.
Thanks for listening, have a great day and I’ll see you next week.