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 6th, Happy New Year, Monday Morning Market Minute.
Single-family inventory from South San Francisco to Redwood City right now is 56, last year at this time that number was 82. We had 11 homes come on the market and 8 go into contract
Condominiums right now…47 condominiums on market, last year that number was 56. Also 11 condos come on the market and 12 into contract. Very healthy number for the first 6 days of the year!
So total inventory from South San Francisco to Redwood City single family homes and condominiums is…103. Last year at this time that number was 138. And in 2018 just for contrast that number was 69. I did predict that number would be 78 and its 103 so I was off but still 103. From south city to Redwood City when you add up the single family homes the condos that number is roughly 88,000. Out of 88,000 homes there are 103 on the market! That is insane! What ma I saying ? It is a full fledge sellers market right now, interest rates are still very attractive. Our economy our local economy is very strong. WE have a lot of buyers looking for homes, there is nothing to really see. If you are thinking of selling your home guess what? This is going to be a great time for you to sell, this first quarter is going to be super super hot. As long as you do it right, hire the right agent, put the right price on the home and prepare you home to go on the market.
Have a great day, have a great year and we will talk to you next week.
Thanks for listening have a great day have a wonderful Holiday and we will talk to you next week!