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 27th, 2020, with your Go Niners Monday Morning Market Minute.
Single-family inventory from South San Francisco to Redwood City right now is 95 thats up from 83 of last week. We had 28 homes come onto the market kind of al ow number last week was 31 leading into the super bowl weekend. We also had 22 homes go into contract that is a healthy number with such Low inventory
Condominiums right now…52 condominiums down from 56 of last week that is incredible we usually see inventory rise at this time of year. 12 come onto the market and 18 go into contract that is a super healthy number!
We only had 4 price reductions and one home come off the market cancel withdraw or expire only one house very low number
So total inventory from South San Francisco to Redwood City single family homes and condominiums is…147 that is slightly up from 139 . There are roughly 90,000 homes single family homes condominiums and town homes out of 90000 homes there are only 147 which is 1/6 of 1% is on the market. That is extremely crazy! Last year at this time the T/T number was 191 so again 147, here we go we are going into the super bowl weekend tends to be kinda like a holiday especially with the 49ers in there! Go Niners! This is what I would like to happen have the 49ers win this weekend and then inventory start growing more and more it will be a great time to sell your home with all the inventory being so low, but for buyers more homes are coming.
Thanks for listening have a great day, GO NINERS and we will talk to you next week.