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/
So, what’s going on with 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. I’m part of the Gilmartin Group real estate company in Burlingame, California. It’s January 12th, 2026. Here’s your week 2 report.
Okay, single family inventory from South San Francisco to Redwood City right now is 94. That’s up from last week’s 80. Last year, this time that number was 103. In 2024, that number was 93. In 2023, that number was 118. Again, here we’re at 94.
We had 32 homes come on the market. Last week, that was that number was 12. 32 is a really robust number for the second week of 2026 and we had 14 go into contract last week that number was six. The average days on market though homes that went into contract 35 days.
Condominiums and town homes right now 104 on the market. Last week the number was 89. Last year this time that number was 120. In 2024 that number was 85. In the 2023 number was 98. We had 22 will come on the market. Another healthy number for the second week of the year. Last week that number was three and we had only two go into contract. Good, you know, to be expected. Last week though, that number was five.
The average days on market for the two that went into contract and they were actually those two were condominiums, not town homes. So, the average days on market for the two condominiums that went into contract was 63 days. Still a higher number than than we like to see. Last year, we were seeing as high as 70 75. So that in terms of that that’s that is better but still 63 is not a days on market that we’re used to seeing or a number we really would like to see come down.
Also we had 10 homes either expire, cancel, withdraw from the marketplace average number for this time of year, the beginning of the year and we had seven price reductions.
So total total from South San Francisco to Redwood City. Single family homes, condominiums, and town homes. Inventory is 198 up slightly from last week’s 169. Last year this time that number was 223. The 2024 number was 118 and the 2023 number was 216. Again here 198.
So again like always, the big story is the high inventory for condominiums and townhomes. But the other great story for sellers that is is the low inventory at 94. We’re still under a 100 homes for sale from South City to Redwood City. Market’s still waking up, getting ready to get going here. And like I say here in the first quarter, sooner is better than later. You want to be, you know, if you’re thinking of selling your home, you want to get on the market before your competition basically is what I’m getting at.
So right now markets looking still very strong. Friday, interest rates came down below 6% and then by Sunday night they peaked back over. So, you know, interest rates are are looking more favorable and the rhetoric coming out of of of the the markets is that, you know, rates are going to continue to ease. So, we’re watching that. The more they ease, the more competition is going to build with buyers. And so it’s again, we’re setting up, like I’ve been saying, certainly really, really healthy first quarter for sellers.
Thanks for listening. Have a great day and I’ll talk to you next week.