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Monday Morning Market Minute – February 19th 2018

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 19th 2018, with your Monday Morning Market Minute.

Okay, according to the parking lot here, everyone here is taking President’s Day Off. So single-family inventory from South San Francisco to Redwood City right now is 91. That’s down slightly from 89 of last week. We have 26 homes come on the market, versus last week we had 45 homes come on the market. So that was a very low number for a week’s worth of new inventory. We also only had 22 homes go into contract. That’s a low number, and again in 2017, that average was 35.

For condominiums right now, we have 32 condominiums on the market — that’s down from 40 of last week. We only had 14 condominiums come on to the market, and we had 14 condominiums go into contract.

So total-total, from South San Francisco to Redwood City, single-family homes and condominiums, inventory is 123, down slightly from 129. That is an extremely low number for inventory. This market is continuing staying hot for sellers. So if you’re thinking of selling your home, now is a great time.

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

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