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 3rd 2017, with your Monday Morning Market Minute. Okay, single-family inventory from South San Francisco to Redwood City right now is 123. That’s up from 105 of last week. We had 58 homes come on to the market last week — that’s the most we’ve seen in a single week this year. And we also had 42 homes go into contract. Very healthy number; that’s what we’re looking for. Condominiums, we have 70 condominiums on the market right now — that’s up from 48 of last week. We had 35 condominiums come on to the market — that’s a big number — and we had 12 condominiums go into contract. So from South San Francisco to Redwood City, single-family homes and condominiums, the total inventory right now is 193 — that’s the peak of the year. That’s way up from 153 of last week. So, a little bit of breathing room for the buyers, more things to look at, but still, this market is very healthy. We’re having plenty of sales coming in week in and week out. So if you’re thinking of selling your home, now is still a great time to get into the market. Thanks for listening, have a great day, and I’ll talk to you next week.