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Monday Morning Market Minute – February 26th 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 26th 2018 with your Monday Morning Market Minute.

Okay, single-family inventory from South San Francisco to Redwood City right now is 98 — that’s up from 91 of last week. We had 44 homes come on the market — that’s a healthy number, a little bit of breathing room for the buyers meaning a little bit of choice out there. Go out and find something great. We also had 36 homes go into contract — that’s a healthy number. Again, in 2017 the average was 37.

Condominiums right now, we have 42 condominiums on the market — that’s up from 32 of last week. We had 14 condominiums come on to the market, and we had 13 condominiums go into contract which is just the same as last week of 14.

So total-total, from South San Francisco to Redwood City, single-family homes and condominiums, inventory is 140. That’s up from 123. Again, a very very low number, but still, we like to see the inventory grow a little bit, kinda create some balance in our market right now. So if you are thinking of selling your home, now is still a fantastic time with low inventory, and if you’re out there buying, hey we have some homes for you to look at this week.

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

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