Real Estate Update – Mid Peninsula
Dan Gilmartin reviews the weekly home inventory numbers.
See your home value right now: http://www.thegilmartins.com/home-valuation/
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 26th, 2026 let’s get started.
Single-family inventory from South San Francisco to Redwood City is currently at 196, down from last week’s 221. Last year at this time, the number was 233. In 2024, it was 169, and in 2023, it was 186.
We had 37 homes come on the market this week. Last week, we had a whopping 70 homes come on the market the highest number of new listings in a single week so far in 2026.
To back that up, we also had 61 sales last week. The week before, that number was 41. In fact, 61 sales is the highest number we’ve seen in a single week since July of 2021.
It makes sense when you have 70 homes hit the market, you’re going to see a lot of activity, and we certainly did.
The average days on market for those 61 homes that went into contract was 17 days. However, there were a handful of homes that had been sitting on the market for quite a while, which skewed the average. If you removed those outliers, the average days on market was probably closer to eight days.
For condominiums and townhomes, inventory currently sits at 205, down from last week’s 212. Last year at this time, that number was 234. In 2024, it was 164, and in 2023, it was 146.
We had 23 condos and townhomes come on the market this week, down from 30 last week. We also had 13 go into contract. Last week was slightly higher at 15, but staying in the teens is exactly what we like to see in that category.
We also had 18 homes either expire, cancel, or withdraw from the marketplace, along with 15 price reductions. Those numbers are around average, maybe slightly on the higher side.
Overall, total inventory from South San Francisco to Redwood City including single-family homes, condominiums, and townhomes is now at 401, down from last week’s 433. Last year at this time, that number was 467. In 2024, it was 333, and in 2023, it was 301.
Right now, inventory is still very tight, especially in the single-family home market. Interest rates remain in the low-to-mid 6% range, and the stock market continues to perform well. Buyers clearly recognize that inflation is still a factor, and many believe homes purchased today will cost more tomorrow.
I think that’s one of the reasons we’re seeing such strong sales numbers in both categories. The single-family market had an outstanding week, and 13 condo and townhome sales is still a very solid number.
This is also a great time for homeowners to start thinking about putting their homes on the market. School is beginning to wrap up, and many families are actively looking for their next home so they can get settled before the new school year begins. Buyers are paying close attention to school districts and timing right now.
If you’re considering selling, now may be the ideal time to get ahead of the summer inventory peak. Historically, we tend to see inventory peak around July, so getting your home on the market before that increase in competition can be a smart strategy.
Thanks for listening, have a great day, and I’ll talk to you next week.