Real Estate Update – Mid Peninsula
Dan Gilmartin reviews the weekly home inventory numbers.
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Hi, this is Dan Gilmartin, part of the Gilmartin Group Real Estate Company in Burlingame, California, March 11th 2019, with your Monday Morning Market Minute.
Okay, single-family inventory from South San Francisco to Redwood City right now is 164. That’s down one tick of 165 of last week. We had 48 homes come on the market — that’s a healthy number and that’s more than last week’s 44. And we had 41 homes go into contract. Now that is a number that we like to see, and much better than last week’s 31 which was actually a pretty good number.
Condominiums right now, 71 condominiums on the market — that’s up slightly from 69 of last week. We had 19 condominiums come on the market (kind of a high number). And we had 14 condominiums go into contract — that’s lower than last week’s 18 which was a great number, but 14 is still a very healthy number.
So total-total, from South San Francisco to Redwood City, single-family homes and condominiums, inventory is 235 — that’s up one tick from last week’s 234. This market is moving very well. There’s more inventory than last year for buyers so there’s more things to look at, and yet 41 sales in single family homes, that’s fantastic. That’s the pace that shows that it’s very healthy, a very healthy market for both sides, buyers and sellers.
Thanks for listening, have a great day, and I’ll talk to you next week.