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 9th 2018, with your Monday Morning Market Minute.
Okay, single-family inventory from South San Francisco to Redwood City right now is 117 — that’s up from 99 of last week and that was incredible to be under 100 homes for sale last week. We had 45 homes come on the market — very big number versus the week before; it was only 22. And last week we had 24 homes go into contract, but the week before was 44. Again, that was one of the highest numbers for 2018. So that was a huge week in sales.
Condominiums right now, we have 49 condominiums on the market — that’s down from 54 of last week. We had 24 condominiums come on the market, and we had 13 condominiums go into contract, which is not quite the number that we like to see week in and week out, but still here we are, you know, some schools are different with their spring break than other schools. So two week ago, we had massive sales, and then last week we had a lot of homes coming on the market.
So total-total, from South San Francisco to Redwood City, single-family homes and condominiums, inventory is 166 — that’s up from 139 of last week. Again, 166 is still an extremely low number, and if you’re thinking of selling your home, it’s still a great time. Thanks for listening, have a great day and I’ll talk to you next week.