Real Estate Update – Mid Peninsula
Dan Gilmartin reviews the weekly home inventory numbers.
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So, what’s going on with the housing market on the mid peninsula in San Mateo County?
Welcome to the Monday morning market minute where I go over the weekly housing inventory report for the Mid Peninsula in San Mateo County.
Hi,I’m Dan Gilmartin. I’m part of the Gilmartin Group real estate company here in Burlingame. It’s December 15, 2025. Let’s get started.
Single family inventory from South San Francisco to Redwood City right now is 102. That is down from last week’s116. I did think that we’re going to be under 100 homes today, but we have 102. Last year this time we had 86. In 2023, 99 and in 2022, 171. Again, here we’re at 102. We had 17 homes come on the market. Last week, that number was 19. 17 is actually a very healthy new inventory number for this time of year. I found that very interesting. We had 19 go into contract last week. That number was 17.
The average days on market for the 19 homes that went into contract 21 days. A little higher than we’re used to seeing. There were a few that took a little longer than normal. That kind of skewed a little bit, but uh 21 days average days on market for those 19 homes that went into contract.
Condominiums and town homes right now 134. Slightly down from last week’s 139. Last year at this time that number was 116. In 2023 93 and the 2022 number was 116. Again here we are at 134. We had four come on the market. Last week that number was 10. And we only had four go into contract. Last week that number was eight. Out of the four that went into contract. Three of them were condominiums and one was a townhouse.
The average days on market for the three condominiums that went into contract 72 days. Very big number there. And here’s a huge number. the town home that was in Foster City that went into contract that was on the market for 125 days. So something some type of negotiation finally went on with that particular town home. We had nine homes either expire, cancel, withdraw from the marketplace and we had only two price reductions.
So total total from South San Francisco to Redwood City single family homes, condominiums and townhomes. Inventory is 236. That is down from last week’s 255. Last year at this time the number was 202. In 2023 the number was 192 and the 2022 number was 287. Again here we’re at 236. Inventory continues to drop especially in the single family sector. We will certainly be under 100 homes next week at next week’s report and we’re going to you know I still believe that first Monday of 2026 we’re going to be about 70 homes on the market.
Tim thinks we’re going to be closer to 80. Either way, those are two very, very low numbers. Interest rates are wanting to come down. Job report was healthy. We’re, like I’ve been saying, we’re going to go into the first quarter of 2026, and it is going to be a very hot market for sellers. Inventory is going to be low. There’s going to be plenty of buyers, so we’re going into a very, very hot market.
Thanks for listening. Have a great day, and I’ll talk to you next week.