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 30th 2018, with your Monday Morning Market Minute, coming to you from New York City, hanging out with a good friend of mine, Randy Whitebrook.
Okay, single-family inventory from South San Francisco to Redwood City right now is 160, up slightly from 155 of last week. We only had 35 homes come on the market, and we only had 27 homes go into contract, whereas last week we had 51 homes go into contract.
Condominiums, right now we have 69 condominiums on the market, up slightly from 64. We had 20 condominiums come to the market, and we only had 13 condominiums go into contract.
So, total-total from South San Francisco to Redwood City, single-family homes and condominiums, inventory is 229 — that’s up from 219 of last week, and again the peak for 2018 is 236. So it’s clear that we’re at the end of July and it’s affecting people, putting their homes on the market and homes going into contract. So, if you’re thinking of selling your home, now can be a perfect time as inventory’s still really low.
Thanks for listening, have a great day, and I’ll talk to you next week.