Real Estate Update – Mid Peninsula
Dan Gilmartin reviews the weekly home inventory numbers.
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Hi, this is Dan Gilmartin, part of the Gilmartin Group Real Estate Company in Burlingame, California, July 1st, 2019, with your Monday Morning Market Minute .
Single family inventory from South San Francisco to Redwood City right now is 204 that is down from 219, which was a 2019 peak. We had 31 homes come onto the market and 37 home go into contract. Which is just under that 40 number we like to see week in and week out.
Condominiums right now, 92 condominiums on the market right now. That’s down from 94 of last week. We had 14 condominiums come onto the market and we had 18 condominiums go into contract that is a very healthy number!
So total total from South San Francisco to Redwood City single family homes and condominiums; inventory is 296, that is down from last week’s 2019 peak of 313. So what does that mean? This market is still show how resilient it is. And I have been hearing people walk around town saying, “Hey the market is changing,” “Hey the market is going down.” According to these numbers, the market is not slowing down. Homes are coming on the market and a they are getting sold. So if you’re thinking of selling your home, it’s still a great time.
Thanks for listening, have a great day and we will talk to you next week!