Real Estate Update – Mid Peninsula
Dan Gilmartin reviews the weekly home inventory numbers.
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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 19th, 2026, Martin Luther King Day. Let’s get started.
Okay, single family inventory from South San Francisco to Redwood City right now is 103. That is up from last week’s 94. Last year at this time, that number was 114. In 2024, the number was 106. And the 2023 number was 124. As some context, in 2022, which was our last really peak hot super hot sellers market, that number was 56. So here we are at 103. But since rates started going up in mid 2022, this is the best number inventory number we have seen in single family inventory sector.
We also we had 25 homes come on the market. Last week that number was 32 and we had 15 go under contract. Last week that was 14. 15 is now the most sales we’ve had in a single week in the 2026 first three weeks. Last week that number was 14. That was the best. And out of the 15 that went into contract, the average days on market was 20 days, but we had one home in San Mateo, an attached home, really nice house, but was on the market for 144 days. So, if I take that out, the days on market on the 14 that went into contract was 11 days. So, that’s a big indicator how fast things are moving right now.
Townhomes and condominiums, active inventory 113. That’s up from last week’s 104. Last year, this time that number was 132. In 2024, the number was 84. In the 2023 number was 107. Again, here we are at 113. We had 12 come on the market. Last week that number was much larger at 22 and we had four go into contract last week that number was two. The average days on market for the four that went into contract which was again only condominiums, no town homes sold, was 123 days. Ouch. That’s just way longer than what we’re used to here in our marketplace on the Mid Peninsula.
So total total from South San Francisco to Redwood City, single family homes, condominiums, and town homes, inventory is 216. That’s up from 198 of last week. Last year at this time, that number was 246. In 2024, that number was 190. And the 2023 number was 236. So again, here we are at 216.
Markets still just still getting going here in terms of inventory starting maybe you know trickling on to the marketplace as we get through February post Super Bowl I believe is February 8th inventory will start coming on even at a more rapid pace but if you are thinking of selling your home I’m telling you right now sooner is better than later to beat that competition buyers right now interest rates down up a little bit, down a little bit, up today feels like maybe going up a little bit. I think the big conversation on rates is they’re going to be they’re going to come down. They’re going to eventually get below 6%. Right now, they’re just over 6%. I would find if there’s a great home on the market right now, I would lock in now less competition if there if your competition is very rate sensitive and then refinance once those rates do comeback down. That is a great strategy for you right now. So sellers now buyers look for opportunity and then refinance when rates do come down.
Thanks for listening. Have a great day and I’ll talk to you next week.