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Monday Morning Market Minute – July 22nd, 2019

Real Estate Update – Mid Peninsula

Dan Gilmartin reviews the weekly home inventory numbers.

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Video Transcript

Hi, this is Dan Gilmartin, part of the Gilmartin Group Real Estate Company in Burlingame, California, July 22nd, 2019, with your Monday Morning Market Minute .

Single family inventory from South San Francisco to Redwood City right now is 211 that is up from 196 of last week . We had 45 homes come onto the market and we had 30 homes go into contract that is better than last weeks 25 but not quite the 45 number we like to see week in and week out.

Condominiums right now, 90  condominiums on the market right now that up slightly of 85 last week. We had 20 condominiums come onto the market and 13 condominiums not as good as last weeks 18.

So total total from South San Francisco to Redwood City single family homes and condominiums; inventory is 301, that is up from 281 of last week. Remember the pea for 2019 is still at 313. Here we are towards end of July and we are not even at the peak number and usually that is what we see in July is a peak number, we will probably see that in August. So what does this all that mean ? The market is moving exactly the way it normally does and there are no big surprises here. If you put your home on the market with the right price and get prepare properly you will get offers. buyers there are more homes to look at and interest rates are still down. Altogether this market is moving very efficiently!

Don’t forget to listen to Beyond the Minute where Tim and myself are going to dive deeper into these numbers and what they mean.

Thanks for listening, have a great day and we will talk to you next week!

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