Real Estate Update – Mid Peninsula
Local home inventory is up almost 100 homes from last year. Dan Gilmartin expalins the weekly house inventory numbers.
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Transcript – Hi, this is Dan Gilmartin, with the Gilmartin Group Real Estate Company in Burlingame, California, June 14th, 2016 with your Monday Morning Market Minute. Okay, single-family inventory today is 200. We had 58 homes come on to the market, and we had 42 homes go into contract. As I’ve said over the weeks, 40 sales a minimum a week is a good number. 42 is a good number. With condominiums, we have 71 condominiums on the market right now. We had 21 condominiums come into the market, and we had 20 condominiums go into contract. So total-total, from South San Francisco to Redwood City, single-family homes and condominiums, the inventory is 271. Last week that was 255. So we’re up slightly. Last year at this time, that number was 186. So completely different market when you look at inventory from this year to last year. So, if you’re thinking of selling you home, this is the year. Get your home on the market, before the rest of the competition. Thanks for listening, have a great day, I’ll talk to you next week.