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, August 13th 2018, with your Monday Morning Market Minute.
Okay, we’re at the end of the summer and I think the activity on the market kinda shows that; the buyers are out, maybe getting that last vacation in before the summer ends. So, single-family inventory from South San Francisco to Redwood City right now is 171 — that’s exactly the same number as last week. We had 35 homes come on the market, and we only had 29 homes go into contract — that’s below the 40-number we like to see week in and week out.
Condominiums right now, 57 condominiums on the market — that’s up slightly from 54 of last week. We had 13 condominiums come on the market, and we only had 8 condominiums go into contract — that’s a very low number.
So total-total, from South San Francisco to Redwood City, single-family homes and condominiums, inventory is 228. That’s up slightly from 225 of last week, and it’s still lower than the peak of 2018. So the inventory is still low, so if you’re thinking of buying, right now could be a great time to find that great house and put in a good offer and beat the competition before the rest of the people come back from vacation.
Thanks for listening, have a great day, and I’ll talk to you next week.