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Transcript:
Hi this is Dan Gilmartin with the Gilmartin Group Real Estate Company in Burlingame California. February 22, 2016 with your Monday Morning Market Minute. Okay, so now, from South San Francisco to Red Wood City, like I’ve said in the past, there’s roughly 66,000 single family homes. And as of today we have 119 home on the market. The low for the year, for 2016, was 63. That’s up 89%, 89% from the low. We had 29 homes come on the market and we had 25 homes go into contract. 25 is 8% higher sales than last week.
And on the condominium side we have 49 condominiums on the market. That’s up 70% from last week. That’s huge! 20 new condominiums came on the market and 13 condominiums went into contract. So, out of the 82,089 homes, that’s the single family and condominiums put together, we have a total of 168 homes on the market. That’s up 22% from last week.
Inventory grows, typically, through June and July. So I always ask, if you’re thinking of selling your home do you want to sell when the inventory is at its peak or do you want to sell when inventory is at its lowest? Naturally, the less competition you have the better is for you, if you’re thinking of selling your home. So if your thinking of selling your home now is the time. It is still a sellers market. As you can see inventory is growing. Thanks for listening. I hope you have a great day. I’ll talk to you next week.