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 in 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 in San Mateo County.
Hi, I’m Dan Gilmartin. I’m part of the Gilmartin Group real estate company in Burlingame, California. Happy New Year. It’s January 5th, 2026. Let’s get started.
Okay, single family inventory from South San Francisco to Redwood City right now is 80. Tim, if you were watching, Tim said the first Monday of the year was going to be 81. I was saying it was going to be 70. If we’re playing prices right, I’m the winner. Last year at this time, the number was 81. In 2024, the number was 78. And in 2023 that number was 120. When I look back for the last 6 to 10 years 80 tends to be the medium number. So that is very interesting. You know being under a 100 homes single family homes is a a huge indicator for a robust sellers market. Remember we have over 60,000 single family homes from South San Francisco to Redwood City. And right now there’s only 80 for sale.
We had 12 come on the market in the first few days of the year and we had six go into contract which is actually right in line with years in the past.
Condominiums and town homes 89 on the market right now. Last year that number was 108. In 2024 that number was 80 and then 2023 that number was 91. We had three condominiums come on the market and we had five go into contract in the first few days of the year. And again that number is also right in line with previous years.
Expires, cancels, & withdrawn’s here’s a really big number,36. Very large number. In 2020, that number was 20 or excuse me, in 2025, that number was 20. In 2024, that number was 21. And the 2023 number was 8. So, here we are at 36. We also had eight price reductions.
So, total total from South San Francisco to Redwood City, single family homes, condominiums, and town homes inventory is 169. Last year that number was 189. In 2024 that number was 158 and the 2023 number was 211 again. Here we’re at 169.
So the condominium and town home inventory is still high, but it’s good to see that number under 100. The last couple weeks of 2025 that number was up in the like 113 120 somewhere right in that range. So it’s good to see that. So with only 80 single family homes on the market right now, here we are getting ready to start the 2026 season and I’m going to tell you like I’ve been was saying coming up and out of the the 2025 year. This is a indicator that we are in a big sellers market right now for single family homes. Especially if interest rates start to ease as we’ve been hearing about and talking about. If those interest rates continue to ease or start easing, I should say, it’s only going to be even more rust.
So, here we go. If you’re thinking of selling your home in 2026, sooner is better than later. First quarter of the year tends to be one of our highest sales price to list price ratios. So, if you’re wanting to sell your home here in the first quarter, you want to sell for the highest amount possible. Obviously, I’m telling you, this first quarter is going to be a very robust sellers market. So, please give me a call and we would love to get together, show you what we can do to get you the highest dollar amount for your home and make this next move in 2026 the best move you’ve ever made.
Thanks for listening. Have a great day and I’ll talk to you next week.