Real Estate Update – Mid Peninsula

Dan Gilmartin reviews the weekly home inventory numbers.

See your home value right now: http://www.thegilmartins.com/home-valuation/

Video Transcript

Hi, this is Dan Gilmartin, part of the Gilmartin Group Real Estate Company in Burlingame, California, July 29th, 2019, with your Monday Morning Market Minute .

Single family inventory from South San Francisco to Redwood City right now is 190 that is down from 211 of last week . We had only had 25 homes come onto the market thats a very low number, last week we had 45 homes come on the market and we had 33 homes go into contract thats not the 40 number we like to see week in and week out but thats better than last weeks 30.

Condominiums right now, 74 condominiums on the market right now that way down from 90 of last week. We had 16 condominiums come onto the market and a whopping 29 condominiums go into contract that is a super healthy number for here at the ned of July. Expired Cancelled and Withdrawn, 10 homes either expired withdrew or cancelled, and we had a whopping 17 price reductions!

So total total from South San Francisco to Redwood City single family homes and condominiums; inventory is 264 , that is DOWN from 301 of last week. That is incredible for end of July here we are in the summer time. Last year at this time inventory actually went up. What is going on here? WE had al ow number of homes come onto the market

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!