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Monday Morning Market Minute- November 11th, 2019

Real Estate Update – Mid Peninsula

Dan Gilmartin reviews the weekly home inventory numbers.

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Video Transcript

Hi, this is Dan Gilmartin, part of the Gilmartin Group Real Estate Company in Burlingame, California, November 11th 2019 Veterans Day, Monday Morning Market Minute . 

Certainly want to start off by saying God bless our Vets and this wonderful country of ours.

Single family inventory from South San Francisco to Redwood City right now is 174 which is WAY down from last weeks 195. Last year at this time that number was 233, what a difference a year makes. We had 23 homes come onto the market and 29 homes  go into contract, week in week out thats a low number.

Condominiums right now is 110 on market that is down from 121 of last week.  We had 13 condominiums come on the market and 22 condominiums go into contract pretty healthy number, certainly better than the 29 for single family home

So total total from South San Francisco to Redwood City single family homes and condominiums; inventory is 284, down from 316 of last week. Las year at this time that number was 321, inventory is CRASHING! This really makes the market a lot more competitive for the buyers who are out there and sellers if you are thinking of selling your home right now inventory is low this is an incredible incredible time. Really speaks to our market, it is HOT, we will get more into that in the podcast Beyond the Minute  stayed tuned for that.

Thanks for listening have a great day and we will talk to you next week!

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