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 2018, Tuesday, with your Monday Morning Market Minute.
We spent the weekend at the Hawk Ranch; had a wonderful time hootin’ hard. I lost my voice, hence why I’m doing the Monday Morning Market Minute on Tuesday, ’cause I couldn’t even talk yesterday.
So, single-family inventory from South San Francisco to Redwood City right now is 161. That’s up from 155 of last week. We had 40 homes come on the market — that’s a pretty healthy number. And we only had 34 homes go into contract. Last week that number was 34. Very interesting.
Condominiums right now, 62 condominiums on the market — that’s down from 67 of last week. We had 21 condominiums come on the market, and we actually only had 9 condominiums go into contract — that is kind of a low number although inventory dropped.
So, total-total, from South San Francisco to Redwood City, single-family homes and condominiums, inventory is 223. Last week was 222, and the week before that was 222. What does that tell us? Hey, this market continues to stay efficient through these summer months. If you’re thinking of selling your home, it’s not too late.
Thanks for listening, have a great day, and I’ll talk to you next week.