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Monday Morning Market Minute – July 8th, 2019

Real Estate Update – Mid Peninsula

Dan Gilmartin reviews the weekly home inventory numbers.

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Video Transcript

Hi, this is Dan Gilmartin, part of the Gilmartin Group Real Estate Company in Burlingame, California, July 8th, 2019, with your Monday Morning Market Minute .

Single family inventory from South San Francisco to Redwood City right now is 196 that is up from 180 of last week . We had 45 homes come onto the market that is average the most we have ever had in 2019 was in the 60s last week that number was 10.  WE also had 25 homes go into contract clearly not the 40 number we like to see week in and week out, last week that number was 37.

Condominiums right now,85  condominiums on the market right now that up slightly of 79 last week. We had 16condominiums come onto the market and 18 condominiums go into contract now thats a healthy number for condominiums!

So total total from South San Francisco to Redwood City single family homes and condominiums; inventory is 281, that is up from 259 of last week. The 2019 peak is 313, for reference and last year at this time that number was 223. So Mark, here we are basically in the middle of the year  and middle of summer and market is definitely going on pace very much like it nomrall does in terms of time of year. With more inventory on the market that is very good for buyers, and sellers homes are still selling however you have to do it right and put the right price on there and get teh home prepared to go on the market to take advantage of the marketplace right now.

Don’t forget to listen to Beyond the Minute where Tim and myself are going to dive deeper into these numbers and what they mean.

Thanks for listening, have a great day and we will talk to you next week!

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