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 7th 2018 with your Monday Morning Market Minute.
Okay, single-family inventory from South San Francisco to Redwood City right now is 148 — that’s down one tick of 149 of last week. We had 33 homes come on the market. We had 54 homes go into contract — that’s a super healthy number, and you might recall last week we had 61 homes go into contract. I can’t remember the last time we had 115 home sell in a two week period. Super super healthy.
Condominiums right now, 63 condominiums — that’s up from 58 of last week. We had 28 condominiums come on the market, 22 condominiums go into contract — that’s a really really healthy number. So the market’s showing, that as the inventory rises, they’re there ready to buy.
So total-total, from South San Francisco to Redwood city, single-family homes and condominiums, inventory is 211. That’s up from 207 last week, a new 2018 High. So the market is moving right along as inventories rise. Buyers are still there. We’re just waiting for more price(?). So if you’re thinking of selling your home, it’s showing: now is still a great time.
Thanks for listening, have a great day, and I’ll talk to you next week.