Real Estate Update – Mid Peninsula
Dan Gilmartin reviews the weekly home inventory numbers.
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So you wanna know what’s going on with the housing market on the Mid-Peninsula and San Mateo County? Welcome to the Monday Morning Market Minute, where I go over the weekly housing inventory report for the Mid-Peninsula and San Mateo County. Hi, I’m Dan Gilmartin. I’m part of the Gilmartin Group, real estate company in Burlingame, California. Let’s get started.
Single-family inventory from South San Francisco to Redwood City right now is 116. Up slightly from last week’s 114. That’s relatively a low number. Last year this time though, that number was 109. In 2023, that number was 133. In 2022, 78. In 2021, 141. And the 2020 number was 95. We had 34 homes come on the market. Last week, that number was 32. And we had 24 homes go into contract. Last week, that number was 15. That’s the most homes we’ve sold in a single week in 2025, to be expected. Last year at this time though, that number was down at 18.
So, condominiums and townhomes right now: 141 on the market. That’s up from 132 of last week. That’s a bit of a high number. Last year at this time, that number was 83. In 2023, that number was 110. In 2022, that number was 87. ’21, 117. And the 2020 number was 52. We had 24 condominiums, townhomes come on the market. Last week, that number was 31. And we only had 8 go into contract. Last week, that number was 11.
We also had 6 homes either expire, cancel, withdraw from the marketplace. That’s about an average number. We had 12 price reductions. That is actually a high number for this time of year.
So, total-total, from South San Francisco to Redwood City, single-family homes, condominiums, and townhomes, inventory is 257. Up from 246 of last week. Last year at this time, that number was 192. In 2023, that number was 243. In 2022, that number was 165. 2021, 258. And the 2020 number was 147. Again, here we are at 257.
Single-family inventory is relatively a low number. Market is getting going. Here we have 24 sales. That’s really good news. You know, we like to see 30, around 30 week in and week out, but we don’t have enough inventory for that at this time. So the C24, with such low inventory means a very strong market for the single-family inventory. So if you’re thinking of selling your home, I’m telling you right now is, and has usually is for first quarter, a great time to put your home on the market. Less inventory, less competition, good time to sell.
Condominiums and townhomes right now, condominiums still, inventory’s much higher than we’re used to. So there’s opportunity there for buyers. Townhomes are definitely selling much quicker already this year than we’ve seen in the later half of last year.
Thanks for listening. Have a great day. And I’ll talk to you next week.