Real Estate Update – Mid Peninsula
Dan Gilmartin reviews the weekly home inventory numbers.
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So, what’s going on with the real estate market on the Mid Peninsula in San Mateo?
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 26, 2026. Let’s get started.
Okay. Single family inventory from South San Francisco to Redwood City right now is 127. That is up big number from 102 of last week. Last year this time the number was 116. In 2024 that number was 109 and the 2023 number was 133. Again here we’re at 127. We had 47 homes come on the market. That’s a big number. Last week that number was 25. And we had 19 go into contract. That’s the most sales in a single week so far for the 2026 year. Last week that number was 16.
The average days on market for the 19 that went into contract was 26 days. But we had three that were carried over from 2025 that went into contract. If I take those three homes out of the study, the days on market for the for the rest came way down to 10 days on the market. So, it shows you right there that the new inventory that’s coming on, priced right, marketed right, is selling really, really quick.
Condominiums and town homes right now, 134 on the market. Last week, that number was 114. Last year at this time, the number was 141. 2024 was 83 and the 2023 number was 110. Again, here we’re at 134 with 31 condominium/town homes come on the market. That’s also a very large number for homes coming on in the single week. Last week that number was 21. And we also had 11 go into contract. Very good number there. With more inventory that does help. Last week that number was six.
We also had four homes either expire, cancel, withdraw from the market place and with seven price reductions. Those two numbers are very average for this time of year.
So total total from South San Francisco to Redwood City, single family homes, condominiums and town homes inventory is 261. That’s way up from last week’s 216. Last year at this time, that number was 257. In 2024, that number was 192 and the 2023 number was 243. Here we’re at 261. It really is the condominium town home inventory that’s ballooning that total total number. But I got to say, 127 home, single family homes on the market more than last year, more than 2024. and the 2023 number was 133.
You know, we do generally see inventory pop right before that Super Bowl weekend. I might say our our 49ers didn’t make it. They may have caused some home sellers to come on even earlier than maybe they were planning. So, I think that’s going on. Then we’re going to have, you know, so we’re going to have this weekend a lot of homes sold this week. We’re going to have this weekend free of Super Bowl. The following weekend will be SuperBowl. that’ll probably be reduction in inventory coming on the market and then from there we’re going just going to take off.
So if you’re thinking of selling if you’re ready right now that’s very good but sooner is better than later as I’ve been saying each week here. The sales for buyers interest rates are up a little bit again this week. Really want to see those interest rates start coming down getting below 6%. It’s going to happen.
So, again, if you find a home that you really like and you’re not as interest rate sensitive as your competition, get in on that home and then refinance when this market this when the rates do come below hopefully, I believe that’s going to happen below 6%.
Thanks for listening. Have a great day and I’ll talk to you next week.