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, February 13th 2017 with your Monday Morning Market Minute. Okay, single-family inventory from South San Francisco to Redwood City right now is 96 — that’s up from 87 of last week — good news for buyers. We had 36 homes come on the market, and we had 24 homes go into contract — now that’s well below the 40-number that we like to see, but very representative of the low inventory. Condominiums, we have 60 condominiums on the market right now — that’s up from 53 of last week. We had 22 homes come in to the market, and we had 19 homes go into contract — that’s a very healthy number. So total-total from South San Francisco to Redwood City, single-family homes and condominiums, the inventory right now is 156 — that’s up from 140. Still, 156? That’s really low. So, if you’re thinking of selling your home, now is a great time to get invovlved in the market, and as the inventory grows, that gives a little bit more breathing room for the buyers. Thanks for listening, have a great day, and I’ll talk to you next week.