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Monday Morning Market Minute – November 13th 2017

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, November 13th 2017, with your Monday Morning Market Minute.

Okay, single-family inventory from South San Francisco to Redwood City right now is 105. Last year at this time, that number was 140. We had 35 homes come on to the market, and we had 31 homes go into contract.

Condominiums, right now 37 condominiums on the market. Last year at this time, 74 condominiums were on the market. We had 12 condominiums come into the market, and 17 condominiums go into contract.

Here’s a little snapshot of what’s going on: Millbrae right now has 6 homes for sale. Hillsborough has 26 homes for sale. Belmont, 11 homes for sale.

So, total-total, from South San Francisco to Redwood City, condominiums and single-family homes, inventory is 142. Last year at this time, that number was 214. What does this tell us? I’m telling you right now, we’re setting up for 2018 to be even stronger than 2017. If you can believe that, it’s gonna be more of a sellers’ market if this continues in 2018.

Hey, thanks for listening, have a great day, and I’ll talk to you next week.

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