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Monday Morning Market Minute – November 14th 2016

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 14th 2016 with your Monday Morning Market Minute. Okay, single-family inventory from South San Francisco to Redwood City currently is 140, which is down from 150 of last week. We had 22 homes come on to the market, and we had 28 homes go into contract. Again, that’s below our 40 number, but that’s still pretty typical for this time of year. Condominiums, 74 condominiums on the market. We had 13 condominiums come into the market, and 17 condominiums go into contract — that’s a healthy number. Here’s something interesting: we had 11 price reductions last week — very big number for that. So, total-total from South San Francisco to Redwood City, single-family homes and condominiums, current inventory is 214 — 214, which is down from 230 of last week. Inventory continues to go down, so if you’re thinking of selling your home, competition is just getting less and less by the day, and now would be a great time to get your home on the market, and if you’re buying, you’ve got to act now, if you want to get in your home before the holidays. Thanks for listening, have a great day, I’ll talk to you next week.

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