Real Estate Update – Mid Peninsula
Dan Gilmartin reviews the weekly home inventory numbers.
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Transcript – Hi, this is Dan Gilmartin, part of the Gilmartin Group Real Estate Company, June 26th 2017 with your Monday Morning Market Minute at the Sierra High School Annual Alumni Golf Classic. Okay, here’s the inventory: single-family homes from South San Francisco to Redwood City right now is 165 — that is up from 151 of last week. We had 57 homes come on the market, and we only had 36 homes go into contract — that a little bit under that 40-number that we’re looking for. Condominiums, we have 68 condominiums on the market right now — that’s up from 65 of last week. We had 21 condominiums come into market, and we only had 12 condominiums go into contract. That number is a little lower than I like to see. So from South San Francisco to Redwood City, single-family homes and condominiums, total inventory right now is 233 — that’s up from 216 of last week, and that’s the highest number for 2017. Right on schedule; highest inventory always happens on June and July, so that’s right on schedule. So if you’re thinking of buying, now is a great time to go out there with all the new inventory. Hey, thanks for listening, have a great day, and I’ll talk to you next week.