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 May 11th, 2026, let’s get started.
Single family inventory from South San Francisco to Redwood City is currently at 211, up slightly from last week’s 199. Last year at this time, the number was 227. In 2024, it was 175, and in 2023, it was 178.
We had 60 homes come on the market this week, which is a healthy spring inventory number. Last week, that number was 54.
And here’s some great news: 40 homes went into contract this week. That’s exactly the kind of number we like to see week in and week out. The average days on market for those 40 homes was just 14 days, showing the market is moving very efficiently.
For condominiums and townhomes, inventory is currently at 207, slightly down from last week’s 210. Last year at this time, the number was 234. In 2024, it was 163, and in 2023, it was 107.
We had 27 condos and townhomes come on the market, and 16 went into contract a very healthy number for that sector. Last week, 12 went into contract.
The average days on market for condominiums that went into contract was 40 days, which is improving. For townhomes, the average days on market was just 19 days.
We also had 15 homes expire, cancel, or withdraw from the marketplace, along with 19 price reductions. Those numbers are about average, maybe slightly higher than average, but still typical for the market.
Overall, total inventory from South San Francisco to Redwood City including single-family homes, condominiums, and townhomes is now at 418, up from last week’s 409. Last year at this time, the number was 461. In 2024, it was 338, and in 2023, it was 285.
The market is continuing to move very well. We’re still in the spring market, although we’re starting to approach the transition into summer. Families are beginning to think about moves, school systems, and getting settled before the next school year starts.
We’re really ramping up and finishing the spring market very strong. Even with uncertainty happening around the world, the Mid-Peninsula market continues to show impressive resilience, with strong sales and healthy inventory levels.
It continues to prove that the right pricing and the right marketing strategy get homes sold immediately. And for buyers, the homes that sit on the market a little longer are where the opportunities can often be found.
Thanks for listening, have a great day, and I’ll talk to you next week.