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Monday Morning Market Minute – August 27th 2018

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 27th 2018, with your Monday Morning Market Minute.

Okay, single-family inventory from South San Francisco to Redwood City right now, 185 — that’s up slightly from 180 of last week. We had 48 homes come on the market, and we had 34 homes go into contract. Again, we like to see 40 week in and week out; 34’s a pretty good number for this time of year.

Condominiums right now, 53 condominiums — that’s down from 63 of last week. We had 9 condominiums come on the market. We had 13 condominiums go into contract — that’s a pretty healthy number.

So total-total, from South San Francisco to Redwood City, single family homes and condominiums, inventory is 238 — that’s down from 243 of last week which was a peak for 2018. So that’s what we’re watching: are we going to continue to build inventory over the peak? And the fact that this week the inventory came down — that shows that the market is being very resilient. So if you’re thinking of selling your home, there’s still time. Give us a call, we’d love to help you.

Thanks for listening, have a great day, and I’ll talk to you next week.

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