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Monday Morning Market Minute – August 15th 2016

Real Estate Update – Mid Peninsula

The number of homes that went into contract went up this week compared to last week. Dan Gilmartin explains the weekly house inventory numbers.

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Transcript – Hi, this is Dan Gilmartin with the Gilmartin Group Real Estate Company, August 15th 2016, with your Monday Morning Market Minute. Okay, inventory right now, single-family home from South San Francisco to Redwood City, is currently 190 — that is down slightly from 204. We had 43 homes come on to the market, and we had 39 homes go into contract. Now, as you’ve heard me say, we were looking for at least 40 on average. Last week was 26 — that’s a little scary. We’re at 39 — it’s going to be interesting to see what happens next week. Condominiums, we had 54 condominiums on the market. We had 13 condominiums come into the market, and had 20 condominiums go into contract — that is a much healthier number than last week of 13. So total-total from South San Francisco to Redwood City, single-family homes and condominiums, the number is 262 — down from 274 of last week. Things are moving, still a good time to get into the market. Thanks for listening, have a great day, I’ll talk to you next week.

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