Real Estate Update – Mid Peninsula
Dan Gilmartin reviews the weekly home inventory numbers.
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Single family inventory from South San Francisco to Redwood City right now is 204 slightly up from 202 of last week. We had 46 homes come onto the market thats a healthy big number, and a whopping 48 homes go into contract, now that is a very healthy number for sellers!
Condominiums right now, 102 condominiums thats down from 104 of last week. We had 19 condominiums come onto the market and we had 15 condominiums go into contract, not as good as last weeks 21 but still a healthy number! Here is something that is interesting, we had 20 price reductions.
So total total from South San Francisco to Redwood City inventory is 306, that is exactly the same number as last week! What does that mean? Typically this time of year middle of June inventory starts to rise, here we are middle of june and last week it went down and then this week we stayed at 306 , that is more inventory than last year at this time so good for buyers, and interest rates are still down! Yet, 48 sales which shows sellers, if you do it right your homes will sell!
Thanks for listening and we will talk to you next week!