Real Estate Update – Mid Peninsula
Dan Gilmartin reviews the weekly home inventory numbers.
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So, what’s going on with the housing market on the Mid-Peninsula in 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, part of The Gilmartin Group real estate company in Burlingame, California. It’s July 13th, 2026. Let’s get started.
Single-family inventory from South San Francisco to Redwood City currently stands at 175 homes, up from 165 last week.
For comparison, inventory was 213 at this time last year, 163 in 2024, and 193 in 2023.
We had 43 homes come on the market last week, a significant increase from just 16 the previous week as sellers returned after the Fourth of July holiday.
However, only 17 homes went into contract. That’s an extremely low number. Last week we were disappointed with 25 homes going into contract, and this week’s total is even lower.
The average days on market for the 17 homes that went into contract was 24 days.
This marks four consecutive weeks in which days on market have been much higher than what we had become accustomed to earlier this year, when many homes were selling in just 7 to 10 days.
Based on current inventory and the pace of sales, the market now has approximately an 11.5-week supply of inventory if no additional homes were to come on the market. Even so, the homes that are going into contract are still selling in about three to four weeks.
Turning to the condominium and townhome market, inventory now stands at 186 homes, up from 179 last week.
Last year at this time, inventory was 238. In 2024, it was 201, and in 2023, it was 126.
Overall, inventory levels remain healthier than they were over the past two years, giving buyers more choices.
We had 26 condos and townhomes come on the market this week, up from 12 the week before. Ten properties went into contract, compared to eight last week.
While contract activity improved slightly, this marks four consecutive weeks of relatively low sales in the condo and townhome market.
The average days on market for condominiums that went into contract was 47 days. While that’s still elevated, it’s an improvement over the 50- to 70-day averages we were seeing earlier in the year.
Townhomes averaged 48 days on market, which is generally consistent with recent weeks.
We also had 15 homes expire, cancel, or withdraw from the marketplace, which is fairly typical for this time of year.
There were 23 price reductions, which is on the higher end of the normal range and reinforces the importance of pricing correctly.
Overall inventory from South San Francisco to Redwood City including single-family homes, condominiums, and townhomes now stands at 361 homes, up from 344 last week.
For comparison, total inventory was 451 at this time last year, 364 in 2024, and 319 in 2023.
We’re now entering what many in real estate call the “dog days of summer.”
For buyers, this can be a great time to shop, as inventory is increasing and there are more options available.
For sellers, pricing strategy has become more important than ever. This is not the time to overprice a home in hopes of negotiating later. With interest rates remaining elevated, many buyers on vacation, and inventory beginning to rise, homes that are priced correctly from the start are the ones most likely to sell quickly.
If you’re thinking about selling this summer, an aggressive and well-planned pricing strategy is one of the most important decisions you can make.
Thanks for listening. Have a great day, and I’ll talk to you next week.