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, November 28th 2016 with your Monday Morning Market Minute, post-Thanksgiving. So from South San Francisco to Redwood City, roughly 66,000 single-family homes, today inventory is 103. Down from 117 of last week. We had 4 homes come on to the market during the hoiday, and we had 17 homes go into contract, again during the holiday. Very very typical for Thanksgiving week. Condominiums, 56 condominiums on the market. Last week was 76, so down there. We had 3 new condominiums come to the market, and we had 15 condominiums go into contract — that’s actually a pretty healthy number for a holiday week. So total-total, from South City to Redwood City, single-family homes and condominiums, inventory is 159. That’s way down from 193 of last week. This inventory continues to go down. If I’m gonna make a prediction, the first Monday of 2017, my prediction is, and we’ll check this out, is 82 homes will be on the market from South City to Redwood City. Hey thanks for listening, have a great day, I’ll talk to you next week.