Real Estate Update – Mid Peninsula

Dan Gilmartin reviews the weekly home inventory numbers.

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Video Transcript

Transcript – Hi, this is Dan Gilmartin, part of the Gilmartin Group Real Estate Company in Burlingame, California, January 7th 2019 with the first Monday of the year and the first Monday Morning Market Minute for 2019.

Okay, single-family inventory from South San Francisco to Redwood City right now is 82. Only 82 homes on the market. Last year that number was 49. We had 10 homes come on the market. Last year we had 14 homes come on the market. Also, we had 10 homes go into contract. Now that’s a very healthy number for the first week of the year.

Condominiums right now, 56 condominiums on the market. Last year at this time, that number was 20. We also had 7 condominiums come on the market. Interesting enough, last year at this time, we had 7 condominiums come on the market. Also we had 2 condominiums go into contract. Last year at this time, that number was 4.

So total-total, from South San Francisco to Redwood City, single-family homes and condominiums, inventory is 138. Only 138 homes on the market. What does that mean? That means this market is already starting out very very strong. Also, I want to introduce you to our new podcast. Right after this, we’re gonna have a podcast called ‘The Minute After’ where Tim and I are gonna dive a little deep into these numbers, and I think you’re gonna really like that.

So, thanks for listening, have a great day, and I’ll talk to you next week.