Real Estate Update – Mid Peninsula
Dan Gilmartin reviews the weekly home inventory numbers.
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Hi, this is Dan Gilmartin, part of the Gilmartin Group Real Estate Company in Burlingame, California, October 11th 2021, with your Monday Morning Market Minute at the Annual Burlingame Rotary Golf Charity Tournament.
Okay, single-family inventory from South San Francisco to Redwood City right now is 169. That’s up from 155 of last week. We had 55 homes come on the market. Very healthy number. And 47 homes go into contract. That’s a little lower than last week’s number but again, over than 40 that we like to see week in and week out.
Condominiums right now, 138 condominiums on the market. That’s up from 129 of last week. We had 33 condominiums come on the market. And 21 condominiums go to contract. That’s a very healthy number.
Also we had 6 homes either cancel, expire, withdraw from the marketplace, and 12 price reductions.
So, total-total, from South San Francisco City to Redwood City, single-family homes and condominiums, inventory is 307. That’s up from 288 of last week. And ??? we crossed over the 300-marker, I think for the second or third time this year. I don’t have all my notes in front of me right now, but I believe that 307 is right there at the 2021 peak. Great news.
So that’s very typical for October. So from here, inventory’s gonna start going probably back down. And, if it continues to do that, which I think it will, it is going to setup that 2022 really hot sellers market. But right now, if you’re thinking of selling your home, we still have time before Thanksgiving.
Hey, thanks for listening, have a great day, and I’ll talk to you next week.