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 6th 2018, with your Monday Morning Market Minute.
Okay, we’re at the final stages of summer, and I think it’s being reflected in the activity. So from South San Francisco to Redwood City, single-family inventory’s 171 — that’s up from 160 of last week, but the peak for 2018 is 185. So we’re still under that number. We had 40 homes come to the market, and we only had 23 homes go into contract. Again, I think that’s reflected in this summer months here.
Condominiums, we have 54 condominiums on the market — that’s actually down from 69 of last week. We had 14 condominiums come on the market, and we had 19 condominiums go into contract, which is a pretty good number.
So, total-total from South San Francisco to Redwood City, single-family homes and condominiums, inventory is 225. Last week that was 229. So again, inventory is still low, and yet we’re here in the summer. It feels like things are going slow, but if you look at the numbers, this market is still very efficient. So if you’re thinking of selling your home, it’s still a great time.
Thanks for listening, have a great day, and I’ll talk to you next week.