Real Estate Update – Mid Peninsula
Dan Gilmartin reviews the weekly home inventory numbers.
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Hi, this is Dan Gilmartin, part of the Gilmartin Group Real Estate Company in Burlingame, California, December 2nd, with your post holiday, Monday Morning Market Minute. I am going to keep this one a little short as you might be able to tell my voice is a little off I came off a cold I sound way worse than a ifeel.
Single-family inventory from South San Francisco to Redwood City right now is 119 that is down from 135 of last week. We had 4 homes come on the market…20 homes go into contract. That’s down from last weeks 27. Again, with less homes on the market obviously there will be less sells.
Condominiums right now… 86 condominiums on the market right now. That is down from 91 of last week. We had 5 condominiums come on the market and 10 condominiums go into contract. We also had 11 homes either cancel withdraw or expire from the market place and only 2 price reductions.
So total total from South San Francisco to Redwood City single family homes and condominiums; inventory is 205 that is down from 226 of last week, this market is going to continue to contract as we move through the holidays here and through December and first week of January. What does that really mean? Less invnetory is always better for sellers, and buyers there are homes out there right now that have been on the market a little longer than they should be there is an opportunity there.
Tim and I are going to dive deeper into that conversation with the Beyond the Minute Podcast.
Thanks for listening have a great day and we will talk to you hopefully more clearly next week!