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 30th 2017, Tuesday, with your Monday Morning Market Minute. Yesterday being Memorial Day, we took the day off. We all hope you had a wonderful weekend, and God bless our veterans. Okay, single-family inventory from South San Francisco to Redwood City right now is 126 — that’s way down from 153. Let me pause real quick; there’s roughly 66,000 single-family homes from Redwood City to South San Francisco, and right now we only have 126 homes on the market. We have 41 homes come on the market, and we had 64 homes go into contract — that’s the largest number of sales this year in 2017. Way to go. Condominiums, we have 50 condominiums on the market right now — that’s down from 61. We had 14 condominiums come into the market, and we had 22 condominiums go into contract; again another really healthy number. So, total-total, from South San Francisco to Redwood City, single-family homes and condominiums, the inventory is 176 — that’s way down from 214, about 22% down. Hey, this market just heated up big time. So if you’re thinking of selling your home, you have not missed the boat. So if you’re thinking of selling, naturally, I’d love to come out to your home, give you a plan, and help you get what you want and the time you want. Won’t that be great? Thanks for listening, have a great day, and I’ll talk to you next week.