Real Estate Update – Mid Peninsula
Dan Gilmartin reviews the weekly home inventory numbers.
See your home value right now: http://www.thegilmartins.com/home-valuation/
Hi, this is Dan Gilmartin, part of the Gilmartin Group Real Estate Company in Burlingame, California, February 3rd 2020, Monday Morning Market Minute.
Single-family inventory from South San Francisco to Redwood City right now is 87 thats down from 95 of last week. Last year at this time that number was 129 and inventory was rising. We had 17 homes come onto the market and 32 homes go into contract which is a super healthy number with such low inventory!
Condominiums right now…50 condominiums last week was 52. We had 14 condominiums come onto the market and 15 go into contract that is a super healthy number.
We only had 6 homes either expire, cancel or withdraw from the market place, and we had only one home reduce their price. Last year we had 9 at this time reduce their price, very interesting year over year with that conversation.
So total inventory from South San Francisco to Redwood City single family homes and condominiums is…137 that down from 147 of last week and last year at this time that number was 206. Yes Super Bowl, niners didn’t win that was very sad. Leading up to the Super Bowl is kind of like a holiday week, not a lot of people are thinking its the best weekend to do an Open House which is probably why inventory stayed down, not much came on the market, but we are seeing is that a lot of homes are getting ready to come on the market in march. A lot of homes wont be ready in February. If you are thinking of selling your home and you can get your home ready in February that is going to be a VERY good time. Buyers we are waiting out here with the buyers trying to see more inventory. IF you are thinking of selling your home give us a call, we will CLOSE THE DEAL, we will not lose in the 4th quarter.
Thanks for listening have a great day and we will talk to you next week.