Real Estate Update – Mid Peninsula
Dan Gilmartin reviews the weekly home inventory numbers.
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Hi, this is Dan Gilmartin, part of the Gilmartin Group Real Estate Company in Burlingame, California, July 6th 2020 with your Monday Morning Market Minute.
Single-family inventory from South San Francisco to Redwood City right now is now is 181. That’s down from 171. That’s down from 181 of last week with 35 homes coming on the market, which is a pretty healthy number going into a holiday weekend. We tend not to put homes on the market on a fourth of July weekend. Last week, the number was 50. We also had 39 homes going to contract. That’s a very healthy number. Last week that was 56. But still, again, going into a holiday week, 39 sales right there, just shy of that 40 number, we typically like to see
Condominiums right now 115 condominiums on the market that’s up from 107 of last week. We had 20 condominiums come on the market last week. Again, a pretty healthy number going into a holiday week and 10 condominiums going to contract. That’s a little bit lower than what we’ve been seeing in the last several weeks, but still a healthy number.
Also, we had 8 homes either expire, cancel, withdraw from the marketplace and we had 17 homes reduced their price, which is a pretty typical number for this time of year.
So total inventory from South San Francisco to Redwood City single family homes and condominiums inventory is… 286. That’s down slightly from last weeks to 288. And this real estate economy, this real estate market continues to forge forward. It’s almost incredible how healthy this is. And and it’s got a true testament to the Mid Peninsula real estate market. Thanks for listening. Have a great day. And I’ll talk to you next week.