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Monday Morning Market Minute – December 11th 2017

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, December 11th 2017 with your Monday Morning Market Minute.

Okay, single-family inventory from South San Francisco to Redwood City right now is 89 — that’s down slightly from 91 of last week. We had 26 homes come on the market, and 27 homes go into contract. I was hoping for 40; very very interesting there.

Condominiums right now, we have 34 condominiums on the market — that’s down by 1 from 35 of last week. We had 10 condominiums come into the market, and only 10 condominiums go into contract. Again, a low number; very very surprising.

So total-total from South San Francisco to Redwood City, single-family homes and condominiums, inventory is 123 — that’s down from 126 of last week, but there’s a little cause for concern, so I was thinking — I went into the books to look at what was going on last year this the exact same time.

Total inventory, single-family homes and condominiums last year 2016 at this time: 214. 214 homes were on the market last year at this time. So, area of concern? Really not there, ’cause we thought 2017 was a great year; right now we’re already gearing up for 2018 to be a banner year.

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

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