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/
Hi, this is Dan Gilmartin, part of the Gilmartin Group Real Estate Company in Burlingame, California, January 1st 2018 — Happy New Year! — with your Monday Morning Market Minute.
Okay, single-family inventory from South San Francisco to Redwood City right now is 36. There’s 36 single-family homes on the market right now, the first Monday of 2018. Now, there’s roughly 66,000 single-family homes from South San Francisco to Redwood City, and right now we only have 36 homes on the market. I know offices that have more than 36 agents in the office. Last year at this time, first Monday of 2017, that number was 56. Some interesting stats: last year, we sold single-family homes, 1852 homes were sold in 2017, with an average sales price of $1,850,140, as an average price per square foot — and I’m talking about 2017 numbers — of $957.50.
Okay, condominiums, from South San Francisco to Redwood City right now there’s currently, 17 condominiums on the market. Last year at this time, that number was 42. Last year, 2017, there was 858 condominiums that were sold from South San Francisco to Redwood City, with an average price of $1,010,117, with an average price per square foot of $757.
So what does this all mean? Already, 2018, like what I was saying leading up to 2018, is leading up to be a fantastic seller’s market. It’s hotter today than it was last year on this date. And if you thought 2017 was hot, get ready for 2018.
So if you’re thinking of selling your home, naturally give me a call, I’d love to put a plan together, and ultimately, help you get what you want and the time you want. Won’t that be great?
Thanks for listening, I’ll talk to you next week.