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Monday Morning Market Minute – June 6th 2016

Real Estate Update – Mid Peninsula

Inventory is up 30% from last year but sales are still strong. Dan Gilmartin breaks down the weekly house inventory numbers.

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Transcript – Hi, this is Dan Gilmartin, Gilmartin Group Real Estate Company in Burlingame, California, June 6th 2016, with your Monday Morning Market Minute. Okay total inventory, single family from South San Francisco to Redwood City is 182. That’s down slightly from 184, with 48 homes come onto the market and with 41 homes go into contract. Last week that number was 58. 58 is a huge number, 41 is still a good average number. For condominiums we have 73 condominiums on the market we had 25 come into the market, and that’s up from 13 last week. And we had 15 condominiums go into contract. That’s down from 21 last week. So total-total from South San Francisco to Redwood City, single family homes and condominiums, the inventory is 255. That’s up slightly from 247 of last week. And last year at this time, that number was 179. Year over year that’s a 30% increase in inventory. The fact that we had 41 sells though last week is still a very healthy number. So if you’re thinking of selling your home now is still a good time before the rest of the competition comes on the market. Thanks for listening, have a great day and I’ll talk to you next week.

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