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Monday Morning Market Minute – January 9th 2017

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 9th 2017 — Happy New Year — with you Monday Morning Market Minute. Okay, little refresher. From South San Francisco to Redwood City there’s roughly 66,000 single-family homes. And as of today, there’s 56 homes on the market. Last week was only 44. We had 26 homes come on to the market this first week, and we had 5 homes go into contract. Condominiums, we had 4 condominiums on the market. We had 14 condominiums come on to the market, and we had 6 condominiums go into contract. So, from South San Francisco to Redwood City, single-family homes and condominiums, inventory is 98. And if you’ve been following along, my prediction for the first Monday of 2017 was 85. Well, last Monday, the first Monday of 2017, that number was 78. So I was 7 over, not bad. So what does this all mean? We are geared up for a very strong sellers’ market right now. Interest rates today is about 4.1, so still low interest rates, and extremely low inventory. So if you’re thinking of selling your home in 2017, now is the time. Give me a call, naturally I’d love to come out, see your home, put together a plan, and help you get what you want any time you want. Thanks for listening, have a great day, and I’ll talk to you next week.

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