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 20th 2017, with your Monday Morning Market Minute: Thanksgiving Edition.
Okay, here we go. Single-family inventory from South San Francisco to Redwood City right now is 86 — that’s way down from 105 of last week, so we only have 86 homes for sale right here in the mid-peninsula. We had 24 homes come on the market, and 36 homes go into contract which is right there with the 2017 average.
Condominiums right now, 32 condominiums on the market, down slightly from 37 of last week. We had 8 condominiums come on to the market, and 12 condominiums go into contract, little bit lower that we’ve seen, but very indicative of this very low inventory.
A little snapshot here of homes that are for sale: San Bruno has only 8 homes for sale. San Mateo has 20 homes for sale, and San Carlos has only 11 homes for sale right now.
So total-total, from South San Francisco to Redwood City, condominiums and single-family homes, inventory is 118. Only 118 homes for sale on the market, down from 142 of last week. So this market continues to show strength and great sales week in and week out.
Also I want to say thank you so much on this Thanksgiving week for continuing to watch us. I’m getting lots of great feedback and I just really appreciate that. Very thankful for everyone watching and giving me that great feedback. So have a wonderful holiday Thanksgiving, and I’ll talk to you next week.