Real Estate Update – Mid Peninsula
Dan Gilmartin reviews the weekly home inventory numbers.
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So, what’s going on with the housing market on the Mid-Peninsula in San Mateo County? Welcome to the Monday Morning Market Minute, where I go over the weekly housing inventory report for the Mid-Peninsula in San Mateo County.
Hi, I’m Dan Gilmartin, part of The Gilmartin Group real estate company in Burlingame, California. It’s April 6, 2026 — let’s get started.
Single-family inventory from South San Francisco to Redwood City is currently at 184, down slightly from last week’s 185. Last year at this time, the number was 205. In 2024, it was 142, and in 2023, it was 157.
This past week, 36 homes came on the market, down from 45 last week. That’s to be expected with the holiday week and various spring breaks happening. We also had 32 homes go into contract. Last week was strong at 41, and the week before was even higher. Considering the holiday and spring break timing, 32 is still a very positive number.
The average days on market for those 32 homes was 11 days, showing the market is moving very briskly.
For condominiums and townhomes, there are currently 189 on the market, up slightly from last week’s 185. Last year, that number was 215; in 2024, it was 136, and in 2023, it was 103.
We had 28 condos and townhomes come on the market this week, down from 37 last week. Twelve went into contract, which is a solid number — I like to see these numbers in the teens or higher. Last week, 11 went into contract.
The average days on market for condos that went into contract was 37. Last week, it was just 12, which was remarkably low. While 37 isn’t as low as last week, it’s still much better than the averages we’ve seen recently, which were often in the 50s or even 70s. For townhomes, the average days on market for contracts was 16.5 days.
We also saw eight homes expire, cancel, or withdraw from the marketplace — a low number — and just five price reductions, also very low.
Overall, total inventory from South San Francisco to Redwood City — including single-family homes, condos, and townhomes — is at 373, up slightly from last week’s 370. Last year at this time, it was 420; in 2024, 278; and in 2023, 260.
With everything going on in the world right now, we are still very much in a seller’s market. But buyers do have more choices than before — it’s a slightly better scenario for them in terms of inventory.
For sellers, now more than ever, pricing strategy really matters. Preparing your home correctly before going on the market is critical. Even in a seller’s market, if it’s not done right, the home sits longer and you end up negotiating down. At The Gilmartin Group, we like to negotiate up.
Thanks for listening, have a great day, and I’ll talk to you next week.