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 22nd 2021, with your Thanksgiving Week Monday Morning Market Minute.

Okay, single-family inventory from South San Francisco to Redwood City right now is 91. That is down from 115 of last week. Last year at this time, that number was 181. Today, 91 single-family homes, under a hundred homes, on the market from South San Francisco to Redwood City. We had 22 homes come on the market, and we had 46 homes go into contract. That’s a super healthy number going into the holiday week. Last week, that number was 43.

Condominiums, we have 106 condominiums on the market. That’s down from 124 of last week. Last year at this time, that number was 182. Only 106 condominiums, townhomes on the market. Unbelievable. We had 15 condominiums come on the market, and 21 condominiums go into contract. That’s a really healthy number.

We also had 10 homes either expire, cancel, withdraw from the marketplace, and 6 homes reduce their price.

So, total-total from South San Francisco to Redwood City, single-family homes and condominiums, inventory is 197. That is down from 239 of last week. Last year at this time, that number was 363. 197 total-total, that is super, super low. Now, we’re starting to think, what’s that inventory gonna be in the first Monday of 2022. 50? 60? Only time will tell, but that’s just incredible.

So if you’re thinking of selling your home, holiday is gonna be great, and going into 2022 is also just gonna be really, really hot.

Thanks for listening, have a great day, have a wonderful Thankgiving. If you’re listening to this and watching this, you clearly have a lot to be thankful for. Thank you, have a great day, and we’ll talk to you next week.