Real Estate Update – Mid Peninsula
Dan Gilmartin reviews the weekly home inventory numbers.
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Single family inventory, from South San Francisco to Redwood City, right now was 200. That is up from one ninety five of last week. Very interesting. We have said 56 homes come on the market. That’s a big number. Last week, that number was only 45 and we had 39 homes going to contract. Last week, that number was 40. 39, as you know, week over week is really where we’d like to see kind of inventory now.
Condominiums 52 condominiums on the market. That’s up from 141 of last week. Again, the condominium market just keeps on growing. We had 33 condominiums come on the market and a very good number. 21 condominiums go into contract.
Also, here’s another trend that’s happening. Twenty five homes either expired, canceled or withdraw from the marketplace and another 27 homes took their reduce their price. Last week, the number was 27. That’s a large number.
So total total from south San Francisco to Redwood City, single family homes and condominiums. Inventory is 352. That’s actually up from 343 of last week. I said last week, I thought of the bell curve of the inventories would probably start going down. So it’s very interesting to see that the inventory has rose a little bit. Again, like I’ve said in the past, and the macro picture of the Mid Peninsula, that’s a very, very low number. So thanks for listening. Have a great day. And I’ll talk to you next week.