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Monday Morning Market Minute- December 16th, 2019

Real Estate Update – Mid Peninsula

Dan Gilmartin reviews the weekly home inventory numbers.

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Video Transcript

Hi, this is Dan Gilmartin, part of the Gilmartin Group Real Estate Company in Burlingame, California, December 16th, with your getting ready for the holidays, Monday Morning Market Minute.

Single-family inventory from South San Francisco to Redwood City right now is 87that is down from 110 of last week. There are roughly 66,000 single family homes from south san francisco to redwood city and right now we have a Whopping 87 homes for sale! We had 6 homes come onto the market and 22 homes go into contract, now thats a really healthy number with such low inventory and way better than last weeks 9.

Condominiums right now… 70 condominiums on the market right now. That is down from 82 of last week.  We had 7 condominiums come on the market and 10 condominiums go into contract.

So total total from South San Francisco to Redwood City single family homes and condominiums; inventory is 157 that is down from 192 of last week.  That is like nothing, there is nothing in the market. So where does that take us? The big question is where do we start 2020? what is the number going to be, will it be under 100? I bet that it will be! Less than 100 homes for sale? Gee supply and demand, will that be a Seller’s market or a Buyer’s market? Obvioulsy we all know the answer and we will get more into that with our podcast with the Beyond the Minute Podcast.

Thanks for listening have a great day enjoy your shopping, and we will talk to you next week!

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