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 19th 2016 — Happy Holidays! — with your Monday Morning Market Minute. Okay, from South San Francisco to Redwood City, like I’ve said in the past, there’s roughly 66,000 single-family homes, and today inventory is 62, down from 103 — that’s down 40% in inventory right there. We had 9 homes come on the market, and we had 21 homes go into contract. Again, that’s not the 40-number, but a pretty good number during the holidays. Condominiums, 45 condominiums on the market — down from 56. We had 10 condominiums come on the market, and we had 12 condominiums go into contract — kind of a healthy number for the holidays. Jimmy Trevor, total-total single-family homes and condominiums, inventory is 107. 107. Remember my prediction, first Monday of 2017 is 82. We’re 25 away from 82. Incredible. Hey, great time to sell if you’re thinking of selling, because inventory is low, and there’s buyers out there right now, looking for a great home. Happy holidays, have a great day, and I’ll talk to you next week.