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, May 14th 2018 with your Monday Morning Market Minute.
Single-family inventory from South San Francisco to Redwood City right now is 149 — that’s up one tick of last week’s 148. We had 54 homes come on the market last week — that’s a very healthy number; good news for buyers who are out trying to find something to put an offer on. And we had 46 homes go into contract — that’s a very healthy number for sales.
Condominiums right now, 59 condominiums on the market — that’s down from 63 of last week. We had 22 condominiums come to the market, and we had 26 condominiums go into contract — that is a very healthy number.
So, total-total, from South City to Redwood City, single family homes and condominiums, inventory is 208. That’s down from 211 of last week which was the peak for 2018. So the market continues to show, if we bring product on to the market, buyers who keep buying are there. So this market is moving great. If you’re thinking of selling your home, again, now is still a great time to put your home on the market, and 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.