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 in Burlingame, California, March 13th 2017 with your Monday Morning Market Minute. Okay, single-family inventory from South San Francisco to Redwood City right now is 101. That’s up from 94 of last week. We had 51 homes come to the market — that’s a very healthy number — and here’s some great news: we had 4 homes go into contract — that’s the number we’re looking for week in and week out. And if you recall last week, I said, “What’s up with all these price reductions?” clearly those price reductions work, and we got the homes sold that we need to get sold that got us to the 40-number. Condominiums, we have 53 condominiums on the market right now. We had 19 condominiums come on to the market, and we had 13 condominiums go into contract — that’s still a healthy number, but a little lower than I like to see, but again, with such a low inventory, that’s why that’s a healthy number. So total-total, single-family homes and condominiums, from South San Francisco to Redwood City, total inventory right now is only 154. Now that’s up from 141, but still, 154? That’s still a really low number. But what’s happening is the sun’s coming up, and people are thinking, “Hey, if I’m gonna sell my home, now is the time.” Well, if you’re thinking of selling your home, you want to get ahead of the curve, so, if that’s what your wanting to do, simply give me a call, naturally I’d want to come out, take a look at your home, put a great plan together, and then ultimately,help you get what you want and the time you want. Won’t that be great? Hey, thanks for listening, have a great day, and I’ll talk to you next week.