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Monday Morning Market Minute – July 2nd 2018

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 2nd 2018, with your Monday Morning Market Minute.

Okay, we have a holiday week, so it’s very interesting to see what happens up to the holiday week and what happens after the holiday week. So single-family inventory from South San Francisco to Redwood City, inventory right now is 168. Last year at this time, that number was 125, and that number is actually down from 185 of last week. We had 36 homes come on market, and 43 homes go into contract — very healthy number.

Condominiums right now we have 54 condominiums on the market — that’s down from 59 of last week. We had 15 condominiums come on to the market, and we had 14 condominiums go into contract, which is a pretty healthy number.

So, total-total, from South San Francisco to Redwood City, single-family homes and condominiums, inventory is 222 — that’s down from 244 of last week, 244 being the peak of inventory so far for 2018. And, last year at this time, that number was 183. So we need to see what happens here next week and week after to see exactly where this market’s going, but right now, market’s showing how resilient and efficient it is. So, if you’re thinking of selling your home, it’s proving that it’s still a good time.

Thanks for listening, have a great day, and I’ll talk to you next week.

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