Real Estate Update – Mid Peninsula
Dan Gilmartin reviews the weekly home inventory numbers.
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Single-family inventory from South San Francisco to Redwood City right now is 170. That’s up from 164 of last week. We had 43 homes come on the market — that’s a healthy number. That’s lower than last week’s 48 which is also a huge healthy number. But here’s some incredible news, 43 sales. Last week was 41. That’s two weeks in a row we’ve hit that 40 marker. 43 sales is the most sales in one week for 2019.
Condominiums right now, 63 condominiums on the market — that’s down from 71 of last week. We had 13 condominiums come on the market — 21 condominiums go into contract — that’s a huge number healthy, healthy number.
So total-total, from South San Francisco to Redwood City, single-family homes and condominiums, inventory is 233 — that’s down from 235 of last week. That’s two weeks in a row that inventory has actually gone down. So, I said last week — this market is very healthy. We have more homes on the market — good for buyers — yet homes are selling — great for sellers. With more homes on the market does mean more sales. So that’s right inline with what is going on right now. The weather is fantastic, the weekend was fantastic for open houses — this market is officially on.
Thanks for listening, have a great day, and I’ll talk to you next week.