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 3rd 2017, with your Monday Morning Market Minute. Okay, single-family inventory from South San Francisco to Redwood City right now: 125. That’s way down from 165 of last week. We had 13 homes come on the market — that’s very low, probably very indicative this holiday week this 4th of July. We had 48 homes go into contract — very good number right there. Condominiums, we have 58 condominiums on the market right now — that’s down from 68 of last week. We had 17 condominiums come on to the market, and we had 23 condominiums go into contract — that’s a healthy number. So, add the single-family homes and condominiums from South San Francisco to Redwood City right now total inventory is 183 — that’s way down from 233 of last week. And you might recall, 233 was the peak of inventory for 2017, and with this holiday week, with hardly any homes come on the market and lots of sales, that inventory came crashing down. So if you’re thinking of selling your home, right now is a great time to take advantage of this low inventory ’cause I’m sure that the inventory is going to grow. Thanks for listening, have a great day, and I’ll talk to you next week.