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Monday Morning Market Minute – January 15th 2018

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 15th 2018 — Happy Martin Luther King Day — with your Monday Morning Market Minute.

Okay, single-family inventory from South San Francisco to Redwood City right now is 73 — that is up from 49 of last week. Last year at this time, that number was 76. We had 32 homes come on the market — very healthy number. And we only had 8 homes go into contract. I know for a fact the Gilmartin Group was at least one of those sales.

Condominiums right now, we have 29 condominiums on the market — that’s up from 20 of last week. And last year at this time, that number was 44. We had 16 condominiums come on the market, and only 4 condominiums go into contract.

So total-total, from South San Francisco to Redwood City, single-family homes and condominiums, total inventory is 102. That’s up from 69 of last week, and last year at this time, Martin Luther King Day in 2017, that number was 120. So this market’s still getting going here, and the people that are putting their home on the market now, those are the smart move.

I can’t help but think about the analogy we have at this time of the year when the inventory is low like this: the seller that put up their sale first wins the race. So if you’re thinking of selling your home, you have the day off, feel free to give me a call today and I’ll be more that happy to come out to your home, put a plan together, and ultimately help you get what you want and the time you want. Won’t that be great?

Hey, thank for listening, have a great day off, and I’ll talk to you next week.

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