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, July 17th 2017 with your Monday Morning Market Minute. Okay, single-family inventory from South San Francisco to Redwood City right now is 138 — that’s up slightly from 131 of last week. We had 39 homes come on the market, which is a pretty healthy number, and we only had 28 homes go into contract — that’s well below the 40-number that we like to see but I think it’s certainly a reflection of a carry-over from the 4th of July weekend; we have got a lot of buyers maybe still on vacation. Condominiums, we have 60 condominiums on the market — that’s exactly the same as last week. We had 22 condominiums come on to the market, and we had 19 condominiums go into contract — that is a healthy number. So total-total, single-family homes and condominiums, from South San Francisco to Redwood City, inventory is 198 — that’s up slightly from 191. Now, the peak for 2017 is 233, so we’re still under the peak, and we’re even under 200. So if you’re thinking of buying, now could be a good time ’cause some of your competition is on vacation. And if you’re thinking of selling, inventory is still relatively low and it’s still a good time. Hey, thanks for listening, have a great day, and I’ll talk to you next week.