Real Estate Update – Mid Peninsula
Dan Gilmartin reviews the weekly home inventory numbers.
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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 with The Gilmartin Group real estate company in Burlingame, California. It’s June 15th, 2026. Let’s get started.
Single-family inventory from South San Francisco to Redwood City currently stands at 215 homes, unchanged from last week.
For comparison, inventory was 251 at this time last year, 167 in 2024, and 188 in 2023.
We had 58 new homes come on the market this week, compared to 55 last week.
More importantly, we had 42 homes go into contract. Last week’s number was a solid 37, but 42 is exactly the type of activity we like to see week after week.
The average days on market for those 42 homes was 18 days. While that’s slightly higher than recent weeks, it’s still a very short amount of time. Looking closer at the data, a handful of homes had been sitting on the market longer before finally reaching agreements with buyers. Most of the remaining homes sold in just seven to eight days, which once again highlights how important pricing strategy is.
Turning to the condominium and townhome market, inventory remains at 188 homes, unchanged from last week.
Last year at this time, inventory was 250. In 2024, it was 180, and in 2023, it was 113.
We had 22 condos and townhomes come on the market this week, up from 16 last week. We also had 16 go into contract, compared to 18 last week.
The average days on market for condominiums that went into contract was 57.5 days. That’s noticeably higher than the past few weeks and suggests that several condos that had been sitting on the market for an extended period finally negotiated deals and went under contract.
Townhomes showed a similar pattern, with an average of 37.5 days on market before going into contract, also higher than recent weeks.
We also saw 22 homes expire, cancel, or withdraw from the market, which is a relatively high number. In addition, there were 25 price reductions, which is on the higher end of average. Historically, we tend to see closer to 18–22 price reductions, so 25 indicates that pricing remains a critical factor in today’s market.
Overall inventory from South San Francisco to Redwood City including single-family homes, condominiums, and townhomes remains at 403 homes.
For comparison, total inventory was 501 at this time last year, 347 in 2024, and 301 in 2023.
The single-family market continues to perform very well. While inventory has been higher at points during the year, homes that are priced and marketed correctly are still moving quickly.
The condo and townhome market is also showing encouraging signs. While inventory remains elevated compared to previous years, consistent contract activity week after week indicates improving market conditions.
As we move further into the summer market, conditions continue to favor sellers. If current trends continue, the market is likely to remain competitive.
Financial markets have been performing well, and broader economic sentiment has become more positive. If those factors continue to improve, housing demand could strengthen further, creating an even tighter seller’s market.
For buyers, that means sooner may be better than later. For sellers, it remains an excellent time to bring a home to market and take advantage of strong demand.
Thanks for listening. Have a great day, and I’ll talk to you next week.