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Monday Morning Market Minute – May 23rd 2016

Real Estate Update – Mid Peninsula

Inventory is up a little more this week but how is it compared to last year?  Dan Gilmartin breaks down the weekly house inventory numbers.

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Transcript – Hi, this is Dan Gilmartin, part of the Gilmartin Group Real Estate Company in Burlingame, California, May 23rd 2016 with your Monday Morning Market Minute. Okay, single family inventory from South San Francisco to Redwood City right now is 205, just up slightly from last week. We had 65 homes come on to the market — and here’ a great number, we had 52 homes go into contract. Very, very healthy number. 14 cancels and withdrawns though last week. In the last 4 weeks, that gets us up to 43 homes that have come off the market, mainly because they didn’t get what they want. Very interesting there. Condominiums, 73 condominiums on the market. We had 23 condominiums come on to the market, and 17 go into contract. That’s the same numbers last week. And there we had 5 withdrawn and cancels. So total-total, South San Francisco to Redwood City inventory, 278. That’s up slightly. Last year this time, 206. Very interesting. As I’m saying, inventory will continue to grow as we get into June and July. Now is a great time to put your home on the market, get ahead of competition. Thanks for listening, have a great day, I’ll talk to you next week.

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