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/
So, what’s going on with the housing market on the Mid-Peninsula in San Mateo County? Welcome to the Monday Morning Market Minute, where I go over the weekly housing inventory report for the Mid-Peninsula in San Mateo County.
Hi, I’m Dan Gilmartin, part of The Gilmartin Group real estate company in Burlingame, California. It’s July 6, 2026. We hope you had a wonderful weekend celebrating our nation’s 250th birthday. Let’s get started.
Single-family inventory from South San Francisco to Redwood City currently stands at 170 homes, down from 188 last week.
For comparison, inventory was 211 at this time last year, 154 in 2024, and 186 in 2023.
We had 25 homes come on the market last week, down from 30 the week before. While that’s a lower number, it’s not surprising given the Fourth of July holiday weekend, which is typically not the most active time to launch a new listing.
We also had 25 homes go into contract, down from 37 the previous week. While 25 is below the pace we like to see, it’s likely a reflection of the holiday slowdown.
One of the biggest stories this week is the average days on market for the 25 homes that went into contract: 29 days.
That’s the highest average days on market we’ve seen for single-family home sales in quite some time. Last week, the average was 18 days. This marks the second consecutive week where days on market have been noticeably higher than normal.
The single-family market is currently operating at approximately a 6.8-week supply of inventory, yet the homes going into contract are still selling within about four weeks.
That continues to raise an important question: what separates the homes that sell quickly from those that take much longer?
Turning to the condominium and townhome market, inventory now stands at 189 homes, up slightly from 183 last week.
Last year at this time, inventory was 224. In 2024, it was 185, and in 2023, it was 115.
We had 12 condos and townhomes come on the market last week, compared to 27 the week before. Again, the holiday likely played a role in the lower number.
We also saw eight properties go into contract, down from 11 last week. That marks two consecutive weeks of relatively low sales activity in the condo and townhome sector.
However, the average days on market tell a more positive story.
Condominiums that went into contract averaged 27 days on market, a significant improvement from the 50-day averages we had seen previously.
Townhomes averaged just 12 days on market, another strong result compared to the 40-day averages that had been common in recent months.
We also had 20 homes expire, cancel, or withdraw from the marketplace, which is fairly typical for this time of year. There were also 14 price reductions, another average figure for the season.
Overall inventory from South San Francisco to Redwood City including single-family homes, condominiums, and townhomes now stands at 350 homes, down from 371 last week.
For comparison, total inventory was 435 at this time last year, 339 in 2024, and 301 in 2023.
The key takeaway is that inventory continues to contract during a time of year when we would normally expect it to peak.
The single-family market, in particular, is tightening. While sales activity slowed somewhat over the holiday weekend, inventory continues to decline, indicating that demand remains strong.
The condominium and townhome market still offers buyers a bit more breathing room, but strategy remains critical across all property types.
Whether you’re buying or selling, pricing, positioning, and marketing matter now more than ever.
Thanks for listening. Have a great day, and I’ll talk to you next week.