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 30th 2018, with your Monday Morning Market Minute.
Okay, what an incredible week we just had. In today’s report, there are four 2018 Highs. From South San Francisco to Redwood City, right now single-family inventory is 149. That is down from 162 of last week. We had 58 homes come on the market last week. That’s the most homes in one week for 2018. And we had 61 homes go into contract. That is also a 2018 High.
For condominiums right now, 58 condominiums on the market from South City to Redwood City. That’s a 2018 High. We had 16 condominiums come on the market. And we only had 13 condominiums go into contract.
So total-total from South San Francisco to Redwood City, condominiums and single-family home, inventory is 207. That’s a 2018 High, up slightly from 205. So the trend is that the inventory is growing like we predicted. Last year, the inventory peak was 233. So, what does this mean if you think of selling your home? Well, we’re coming into a time now where if you are thinking of selling your home, the people who are, now are gonna start putting in more homes on the market. So you wanna get your home on the market before everyone else. Now is the time.
Thank you for listening, have a great day and I’ll talk to you next week.