Real Estate Update – Mid Peninsula
Dan Gilmartin reviews the weekly home inventory numbers.
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Okay, it’s always very interesting to see what the market does after a holiday week — last holiday being Memorial. And here we go: single-family inventory from South San Francisco to Redwood City, 174 — that’s up from 151 of last week. We had 66 homes come on the market — that’s a huge number. Last week, we only had 34 homes come on the market. We also had 38 homes go into contract — that’s right probably around the 40-number we like to see week in and week out.
Condominiums, 58 condominiums on the market — that’s up 1 tick from 57 of last week. We had 19 condominiums come on the market, and we had 18 condominiums go into contract — that’s a pretty healthy number.
So total-total, from South South San Francisco to Redwood City, single-family homes and condominiums, inventory is 232 — that’s up from 208 of last week. The peak for 2018 is 238, and the peak for 2017 was 233. So this is gonna be very interesting. More homes for buyers to look at, and next week, if the inventory continues to rise, I’m gonna say to my sellers now is the time to put your home on the market.
Thanks for listening, have a great day, and I’ll talk to you next week.