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 5, 2019, with your Monday Morning Market Minute .
Single family inventory from South San Francisco to Redwood City right now is 182 that is down from 190 of last week . We had only had 28 homes come onto the market and 38 homes go into contract, right under that 40 number we like to see and better than last weeks 33.
Condominiums right now, 81 condominiums on the market right now thats up from 74 of last week. We had 17 ondominiums come onto the market and 14 condominiums go into contract.
So total total from South San Francisco to Redwood City single family homes and condominiums; inventory is 263 , that is DOWN one tick from last weeks 264. That is incredible, here we are in August and inventory is going down and interest rates are down. This market is moving a lot more efficiently than we thought it would be.
Don’t forget to listen to Beyond the Minute where Tim and myself are going to dive deeper into these numbers and what they mean.
Thanks for listening, have a great day and we will talk to you next week!