Skip To Content

Monday Morning Market Minute – December 18th, 2023

Real Estate Update – Mid Peninsula

Dan Gilmartin reviews the weekly home inventory numbers.

See your home value right now:


Hi this is Dan Gilmartin, part of the Gilmartin Group, real estate company in Burlingame, California. December 18th 2023, with your Monday Morning Market Minute.

Okay, single-family inventory from South San Francisco to Redwood City right now is 99. That’s down from 124, under a hundred, right on schedule. Last year this time, though, that number was 171. In 2021, 53. In 2020, 140. 2019, 87. And the 2018 number was 97. Here we are at 99. Interesting. We had 8 homes come on the market. Last week that number was 33. And we had 15 go into contract. Last week that number was 17. I think with the inventory really shrinking, and at the end of the year right now, probably a high-teen number is a good number for this time of year.

Condominiums, townhomes right now, 93 on the market. That’s down from 106 of last week. Last year this time, that number was 116. 2021, 64. 2020, 151. The 2019 number was 70. And the 2018 number was 48. Again, here we are at 93. We had 8 condo, townhomes come on the market. And we had 9 go into contract.

We also had 22 homes either expire, cancel, withdraw from the marketplace. And we had 3 price reductions.

So total-total, from South San Francisco to Redwood City, single-family homes, condominiums, and townhomes inventory is 192, down from 230 of last week, under the 200 marker. And it’s gonna keep on going. I think we’re gonna start the new year, I think we’ve said here, Tim and I were, “130 to 150 will be that 1st Monday of 2024.” That, we’ll see what happens there. But last year this time, that number was 282. In 2021, 117. 2020, 291. 2019, that was 157. And the 2018 number was 145. Here we are at 192.

The big difference between this year and the 2018 number is that condominium number. You know, with the higher interest rates that does affect that first-time home buyer. So, we have more condo, townhomes on the market right now than we certainly did half that 2018. Hey, there’s still some great homes out there right now, and the fact that they’re on the market means that they want to sell. And if you wanna sell your home and catch that last couple of weeks, with inventory so low and your house looking so great, could be a good time.

Thanks for listening. Have a great day. And I’ll talk to you next week.

Trackback from your site.

Leave a Reply


About our blog

Our agents write often to give you the latest insights on owning a home or property in the local area.