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 March 23rd, 2026 — let’s get started.
Okay, single-family inventory from South San Francisco to Redwood City right now is at 194. Last week, that number was 178.
194 is a very high number. Last year at this time, the number was 184. In 2024, it was 133, and in 2023, it was 172.
A big reason why our single-family inventory is so high is that we had 70 homes come on the market this past week. That’s a massive number — last week, it was 55. This really shows that the spring market has officially opened right in front of us.
This is great news for buyers — there’s more choice and more homes to look at.
Now, looking at pending sales, 38 homes went into contract. That’s a strong number, especially with higher inventory. Last week, that number was 35.
The average days on market for those 38 homes was just 11 days.
Moving on to condominiums and townhomes — there are currently 166 on the market, down from 176 last week. Last year at this time, that number was 196. In 2024, it was 140, and in 2023, it was 101.
We had 23 condos and townhomes come on the market this week, which is lower than last week’s 35. But here’s the good news: 21 went into contract. That’s the highest number of condo and townhome sales we’ve seen in a single week so far in 2026. Last week, that number was 16.
The average days on market for condos that went into contract was 50 days. That’s still a bit higher than we’d like, but just a few weeks ago we were seeing 70–75 days, so this is definitely trending in the right direction.
For townhomes, the average days on market was just 16 days.
We also saw 16 homes expire, cancel, or be withdrawn from the market — slightly on the higher side — along with 32 price reductions, which is a significant number.
Now, looking at the total inventory from South San Francisco to Redwood City — including single-family homes, condos, and townhomes — we are at 360, up from 354 last week.
Last year at this time, that number was 380. In both 2024 and 2023, it was 273 — interesting to see the same number year-over-year like that.
Overall, the spring market has clearly opened up. This is great for buyers because there are more homes available. At the same time, sellers who price and prepare their homes correctly are still seeing strong results.
Homes are selling quickly — around 11 days or less. In fact, our listings have been selling in 7 to 9 days with 5 to 15 offers.
So yes, the spring market is here. Buyers — don’t be discouraged, there are more opportunities right now. Sellers — if you do it right, you can still achieve the price you’re looking for.
Thanks for listening, have a great day, and I’ll talk to you next week.