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. I’m part of the Gilmartin Group real estate company in Burlingame, California. It’s August 10th, 2026. Let’s get started.
Okay. Single-family inventory from South San Francisco to Redwood City right now is 152. That is down from last week’s 158. That’s several weeks in a row that number is down. Last year at this time, the number was 207. In 2024, it was 176, and in 2023, it was 182. Here we are at 152, one of the lowest numbers we’ve seen in single-family inventory in July since around 2021 or 2020.
We had 41 homes come on the market. That’s up from last week’s 36. And we had 32 homes go under contract. Last week, that number was 25. That’s a 28% increase in sales, also representing a 4.8-week market. But the average days on market for the 32 that went into contract was 18 days, which is about a 2.6-week market.
Condominiums and townhomes right now have 169 on the market. That’s down slightly from last week’s 171. Last year at this time, that number was 229. In 2024, that number was 184, and in 2023, the number was 125. Again, here we’re at 169.
We had 25 new listings come on the market. Last week, that number was 24, and we had 11 go into contract. Last week, that number was 14. That 11 represents a 15-week market. But the average days on market for the condos did drop significantly to 31, and the townhome days on market is at 39.
We also had 17 homes either expire, cancel, or withdraw from the marketplace. And we had an additional nine price reductions. Last week, that number was 11.
So, total from South San Francisco to Redwood City, single-family homes, condominiums, and townhomes inventory is 321, down from last week’s 330. Last year at this time, that number was 436. In 2024, that number was 360, and in 2023, the number was 307. Again, here we’re at 321.
Right now, the single-family home market is as strong as I’ve ever seen it in July. So, if you’re thinking of selling your home right now or in the next couple months, inventory is extremely low. Obviously, that’s very favorable for sellers.
The condominium and townhome market is still struggling. Days on market are higher, with a lot more ability to negotiate there.
But the big conversation continues. If you’re selling your home, do you want to be part of the 4.8-week market, or do you want to be part of the two-week market or sooner? Pricing matters. Strategy matters, even in a tight inventory environment like we have now.
Thanks for listening. Have a great day, and I’ll talk to you next week.