Real Estate Update – Mid Peninsula
Dan Gilmartin reviews the weekly home inventory numbers.
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So, how’s the housing market on the Mid Peninsula in San Mateo County?
Welcome to the Monday morning market minute where I go over the weekly housing inventory report for the Mid Peninsula in San Mateo County.
Hi, I’m Dan Gilmartin, part of the Gilmartin Group real estate company in Burlingame, California. It’s February 1st, 2026. Let’s get started.
Okay, single family inventory from South San Francisco to Redwood City right now is 128. Last week that number was 127. Last year this time that number was 133. 2024 103 and the 2023 number is 130 again. Here we are at 128. We had 43 homes come on the market. Last week that number was 47. Here’s some big news. 28 homes go under contract. Last week that number was 19. 28 is the most homes we sold in a single week in 2026.
The average days on market for the 28 homes that went into contract was 10 days, but we had one home that’s went into contract in Burlingame that was a carryover from 2025. We pull that out and the days on market dropped to eight days on the market.
Condominiums and town homes right now 135 on the market. Last week that number was 131. Last year this time that number was 150. Big change there. The 2024 number was 96 and the 2023 number was 110. We had 21 condos town homes come on the market and we had nine go under contract last week that number was 11.
The average days on market for the condominiums that went into contract out of the nine was 80 days and the average days on market for the townhomes that went into contract was 26 days. That’s a huge improvement on day son market for town homes. The condominium days on market still just staying very very high. We also had 11 homes either expire, cancel, withdraw from the marketplace and we had nine price reductions.
So total total from South San Francisco to Redwood City, single family homes, condominiums and town homes. Inventory is 263 up slightly from last week’s 261. Last year at this time that number was 283. In 2024, the number was 199 and the 2023 number was 240 again. Here we’re at 263.
So the eight days on market for the single family homes when we pull out that one home that went into contract which was a carryover just proves what we what I’ve been saying that this is a very hot beginning hot sellers market right now with you know homes that have come on already this year are selling within a week or less. So, , that just shows you right now how fast and how much of a sellers market we have going on right now. The town home market showing some big improvement there for sellers. And then the condominium market still showing lots of inventory, lots of day, you know, high days on market. So, opportunity there for condominium buyers. This is going to continue to go.
We’re going into the Super Bowl weekend, so we’re probably going to see a little hold back on inventory coming on the market, which just means what’s on the 128 single family homes. I daresay next Monday morning market minute, we’re going to show a lower number because we’re going to have good sales probably and less homes coming on the market.
So, if you are thinking of selling your home, as I’ve been saying, sooner is better than later. Get out there before your competition. Buyers right now interest rates are still staying up above that 6%. They’re talking about new Fed chair and when that happens, you know, hopefully we’re going to see interest rates come down. So, what am I what’s that all about? Well, if you find the home that you love, get that home and then refinance when these rates ultimately come down would be the play. Especially if your competition is more rate sensitive than you are.
Thanks for listening. Have a great day and I’ll talk to you next week.