Real Estate Update – Mid Peninsula
Dan Gilmartin reviews the weekly home inventory numbers.
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Transcript – Hi, this is Dan Gilmartin, part of the Gilmartin Group Real Estate Company in Burlingame, California, January 30th 2017 with your Monday Morning Market Minute. Okay, single-family inventory from South San Francisco to Redwood City right now is 86 — that’s up from 81 of last week. We had 32 homes come on the market — that’s great news for all those buyers out there, because we all know the market is so tight with inventory right now. And we only had 25 homes go into contract — that’s well below our 40-number that we’re always looking at, but that reflects the fact that inventory is so tight. Condominiums, 55 condominiums on the market right now — that’s up from 52 of last week. We had 18 condominiums come into the market, and we only had 12 condominiums go into contract. So, total inventory from South San Francisco to Redwood City, single-family homes and condominiums right now is 141 — that’s up from 133 of last week, but last year at this time, that number was 101, which really tells me: if you’re thinking of selling your home in 2017, now is the time to call me so I can come out, take a look at your home, put a plan together, get the price that you want, and the time you want. Won’t that be great? Thanks for listening, have a great day, I’ll talk to you next week.