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Monday Morning Market Minute – December 4th 2017

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 4thh 2017 with your Monday Morning Market Minute.

Okay, single-family inventory from South San Francisco City to Redwood City right now is 91. That’s up from 74 of last week. We had 40 homes come on the market last week — that’s a huge number — and we only had 17 homes go into contract — that’s a very low number. 2017 average is 35. I really like to see that number at 40 week in and week out.

Condominiums right now, 35 condominiums on the market — that’s up from 25 of last week. We had 16 condominiums come on the market, and we only had 5 condominiums go into contract — that’s a very low number.

City by city, Hillsborough right now, interesting: 22 homes on the market. Burlingame: 12 homes on the market. Foster City: only 2 homes on the market. Millbrae: 8 homes on the market.

So, total-total, from South San Francisco to Redwood City, single-family homes and condominiums, inventory is 126 — that’s way up from 99 of last week. Clearly, we have some sellers out there wanting to take advantage of the end of the year right here; with low inventory, I think it was a great idea. So it’s gonna be very interesting to see next week is how many sales we have this week. I bet you it’s gonna be at 40 or over — that’s gonna be my prediction.

Anyway, hey, thanks for listening, have a great day, and I’ll talk to you next week.

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