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, part of The Gilmartin Group real estate company in Burlingame, California. It’s June 22nd, 2026. Let’s get started.
Single-family inventory from South San Francisco to Redwood City currently stands at 208 homes, down from 215 last week.
For comparison, inventory was 241 at this time last year, 184 in 2024, and 193 in 2023.
We had 43 homes come on the market this week, down from 58 last week. We also had 37 homes go into contract, compared to 39 last week. While 37 is slightly below the 40 contracts per week that we like to see, it’s still a very positive number.
The average days on market for the 37 homes that went into contract was just 13 days, indicating strong buyer demand and a fast-moving market.
Turning to the condominium and townhome sector, inventory has dropped to 177 homes, down from 186 last week. That’s encouraging news for that segment of the market.
Last year at this time, condo and townhome inventory was 252. In 2024, it was 192, and in 2023, it was 114.
We had 23 condos and townhomes come on the market this week, compared to 22 last week. More importantly, 19 went into contract, up from 16 last week.
That marks several consecutive weeks with contract activity in the mid-to-high teens, which is a very positive trend for the condo and townhome market.
The average days on market for condominiums that went into contract was 54.5 days, while townhomes averaged 44 days. Those are relatively high numbers and suggest that several properties that had been sitting on the market for a while finally found buyers.
We also saw 17 homes expire, cancel, or withdraw from the market, along with 18 price reductions. Both figures are fairly typical for this time of year.
Overall inventory from South San Francisco to Redwood City including single-family homes, condominiums, and townhomes is now at 385 homes, down from 402 last week. That brings total inventory back below the 400-home mark.
For comparison, total inventory stood at 493 at this time last year. In 2024, it was 376, and in 2023, it was 307.
The market continues to show strong sales activity, especially in the single-family home sector.
One interesting observation is that if you divide the total number of active homes on the market by the current pace of sales, it suggests roughly a 5.6-week supply of inventory. Yet the average home going into contract is selling in just 13 days.
So the real question becomes: what separates the homes that sell in under two weeks from those that sit on the market much longer?
That’s where strategy comes into play.
Successful home sales don’t happen by accident. The right preparation, pricing strategy, marketing plan, and buyer competition all contribute to faster sales and stronger outcomes.
In fact, our listings this year have averaged approximately 7 to 9 days on market and roughly 23% over asking price. Those results come from creating demand and generating competition from day one.
Thanks for listening. Have a great day, and I’ll talk to you next week.