Real Estate Update – Mid Peninsula
Dan Gilmartin reviews the weekly home inventory numbers.
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Hi, this is Dan Gilmartin, part of the Gilmartin Group Real Estate Company in Burlingame, California, August 12, 2019, with your Monday Morning Market Minute .
Single family inventory from South San Francisco to Redwood City right now is 194 that is up from 182 of last week. We had 50 homes come onto the market that is a big number especially from last week when we only had 28 come onto the market. . We ad 28 go into contract that is a low number. We had a lot of homes come on the market and low home sales.
Condominiums right now, 72 condominiums on the market that is down from 81 of last week. We had 14 condominiums come onto the market and 16 condominiums go into contract pretty good for this time of august.
So total total from South San Francisco to Redwood City single family homes and condominiums; inventory is 266 , that is up from 263 of last week. Inventors kind of holding steady. We are trying to find a peak. Last year at this time the total total number was 228 and the peak from this year the peak was 313 and the 2018 peak was 344 and here is something for context, 2015 the peak was 256. Why am i bringing this up? WE are trying to find the peak, we are at the time of the year we are usually trying to find the peak. is it going to be 313 ? That would be extraordinary for the market continue to listen to the Monday Morning Market Minute and Beyond the Minute where we will take a deeper dive into the numbers.
Thanks for listening and we will talk to you next week!