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 24th 2017, with your Monday Morning Market Minute. Okay, single-family inventory from South San Francisco to Redwood City right now is 135 — that’s down from 138 of last week. We had 39 homes come on the market, and we only had 31 homes go into contract — that’s below the 40-number that we like to see, but I think that’s a little bit a part of the summertime lull that we do see. Condominiums, we have 62 condominiums on the market right now — that’s up slightly from last week of 60. We had 21 condominiums come on the market, and we had 18 condominiums go into contract — that’s a healthy number. So total-total, single-family homes and condominiums, from South San Francisco to Redwood City, right now inventory is 197; down 1 tick of 198 of last week. Still, under 200 homes for sale, from South San Francisco to Redwood City, and we’re under the 233 peak of 2017. The market continues to operate, even during the summer. Hey, thanks for listening, have a great day, and I’ll talk to you next week.