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 8th, 2026. Let’s get started.
Single-family inventory from South San Francisco to Redwood City is currently at 215. Last week, that number was 212.
Last year at this time, inventory stood at 264. In 2024, it was 168, and in 2023, it was 190.
This week, 55 homes came on the market, compared to 64 last week. We also had 37 homes go into contract, a much stronger number than last week’s 29. As you may recall, last week’s lower number was influenced by the Memorial Day holiday weekend, so it’s encouraging to see contract activity rebound.
Thirty-seven contracts is very close to the 40-per-week pace we like to see in this market.
The average days on market for the 37 homes that went into contract was 15 days.
Turning to condominiums and townhomes, inventory currently sits at 188, down from 196 last week. That’s positive news for that segment of the market.
Last year at this time, condo and townhome inventory was 249. In 2024, it was 173, and in 2023, it was 116.
We had 16 condos and townhomes come on the market this week, down from 25 last week. More importantly, 18 went into contract, up from 15 last week. That’s a strong number and exactly the type of activity we like to see.
The average days on market for condominiums that went into contract was 39 days. That’s a significant improvement from the 50, 70, and even 75-day averages we were seeing in previous months.
Townhomes performed even better, with an average of just 6.5 days on market before going into contract.
We also had 15 homes expire, cancel, or withdraw from the marketplace, along with 24 price reductions. Those numbers are fairly typical for this time of year.
Overall inventory from South San Francisco to Redwood City including single-family homes, condominiums, and townhomes now stands at 403, down slightly from last week’s 408. The decline was largely driven by lower condo and townhome inventory.
For comparison, total inventory was 513 at this time last year. In 2024, it was 341, and in 2023, it was 306.
The market is clearly moving quickly. With an average of just 15 days on market for single-family homes, demand remains strong. Looking closer at the homes that went into contract, many sold within seven to nine days, while only a few lingered longer and pushed the average higher.
The single-family market continues to move at a fast pace with only 215 homes available, while condo and townhome inventory is contracting as well.
Overall, the Mid-Peninsula market continues to show impressive resilience and remains in full swing. We’re transitioning from the spring market into the summer market, with graduations taking place and many families looking to secure a home before the next school year begins.
For sellers, it’s still a great time to bring a home to market. But as always, the right pricing strategy and the right marketing plan make all the difference.
Thanks for listening. Have a great day, and I’ll talk to you next week.