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Monday Morning Market Minute – January 21st 2019

Real Estate Update – Mid Peninsula

Dan Gilmartin reviews the weekly home inventory numbers.

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Video Transcript

Transcript – Hi, this is Dan Gilmartin, part of the Gilmartin Group Real Estate Company in Burlingame, California, January 21st 2019, with your Monday Morning Market Minute.

Okay, single-family inventory from South San Francisco to Redwood City right now is 104 — that’s up slightly from last week’s 99. We had 24 homes come on the market, and we had 20 homes go into contract. Now that’s not the 40-number we like to see week in and week out, but for the third week of January, with inventory so low, that’s a very good number.

Condominiums right now, 66 condominiums on the market — that’s actually down from 70 of last week. We had 13 condominiums come on the market, and we had 13 condominiums go into contract. Now that’s a very healthy number for the third week of January.

So total-total, from South San Francisco to Redwood City, single-family homes and condominiums, inventory is 170 — that’s up 1 tick from last week’s 169. So, market right now is still showing very good resiliency. Interest rates are still down. Inventory is still relatively way down. So, it’s gonna be very interesting to see what happens, especially for whatever reason this next week, and then after Super Bowl, how this market’s gonna wake up a bit.

Thanks for listening, have a great day, and we’ll talk to you next week. Oh and by the way, if you wanna go beyond the minute and listen to Tim and myself go a little deeper with these numbers, listen to our third episode podcast called Beyond the Minute. Okay, have a great day, talk to you next week.

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