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Monday Morning Market Minute – May 22nd 2017

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 22nd 2017 with your Monday Morning Market Minute. Okay, single-family inventory from South San Francisco to Redwood City right now is 153 — that’s up from 146 of last week. We had 58 homes come on the market, and we had 43 homes go into contract — that’s a healthy number as you know. Condominiums, we have 61 condominiums on the market right now — that’s up slighty from 57 of last week. 21 condominiums came into the market, and 17 condominiums went into contract — that’s a healthy number. Here’s something interesting: we had 11 homes either expire, cancel or withdraw. The only reason that happens is that they didn’t get the price they’re looking for; they must have started too high. So, there’s always a strategy, even in the seller’s market. So total-total, from South San Francisco to Redwood City, single-family homes and condominiums, the inventory is 214 — that’s up from 203 of last week, and that’s the highest number we’ve had all year, but still a very low number. It was 60 sales a week; that’s a 3-week market. So this market’s still very strong. So if you’re thinking of selling your home, now is time to get into that final spring market to get what you want and the time you want. Won’t that be great? Hey, have a great day, and I’ll talk to you next week.

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