Real Estate Update – Mid Peninsula

Dan Gilmartin reviews the weekly home inventory numbers.

See your home value right now: http://www.thegilmartins.com/home-valuation/

Video Transcript

Hi, this is Dan Gilmartin, part of the Gilmartin Group Real Estate Company in Burlingame, California, April 29th 2019, with your Monday Morning Market Minute.

Single family inventory from South San Francisco to Redwood City right now is 163, up 10% from last weeks 147. We had 63 homes come onto the market, now thats the largest number for 2019 and 42 homes go into contract thats very healthy, that’s exactly the number we like to see week in and week out.

Condominiums right now, 76 condominiums on the market thats up slightly from last weeks 73. We had 26 condominiums come onto the market and we  had 16 condominiums go into contract thats a very healthy number.

So total total from South San Francisco to Redwood City inventory is 239, thats up from 220 of last week and that is very good news for buyers and yet right on schedule in terms of inventory growing, there are more homes to look at for buyers and interest rates are still down, and if you are thinking of selling your home, hey homes are selling, 42 homes sold last week! What we are really saying her is this market continues to be very efficient, and very resilient. Also, come listen to the podcast Beyond the Minute where we will go deeper to what these numbers really mean for the last week of April.

Thanks for listening and Have a great day and we will talk to you next week!