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Monday Morning Market Minute – October 15th 2018

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, October 15th 2018 with your Monday Morning Market Minute.

Okay, single-family inventory from South San Francisco to Redwood City right now is 242 — that’s up from 238 of last week. We had 47 homes come on the market — that’s a big number. And we only had 27 homes go into contract — that is a low number and certainly not the 40 that we like to see week in and week out.

Condominiums right now, 91 condominiums on the market — that’s up from 90 of last week. We had 14 condominiums come on the market, and we only had 8 condominiums go into contract — that is also not the number that we like to see week in and week out for condominiums.

So total-total, from South San Francisco to Redwood City, single-family homes and condominiums, inventory is 343. Now that’s up from 328 of last week, and that is a new 2018 peak for inventory. The last time we were at this type of level the year was 2013 as you may have heard me say a couple of shows ago, and that number in 2013 was 336. So we have broken through the 2013 peak of inventory.

So if you’re thinking of selling your home, now is the time to hire the professionals to help you get what you want and the time you want for maximum dollar. And if you’re thinking of buying, we have just entered in a buying season. Interest rates are gonna go up again — that’s at least what they’re saying. Inventory is up. There are things to look at. Now is the time to start making off, so give us a call. Use our website. Figure out what your home is worth. Then invite me over. Use our website to find the home that works for you and then give me a call and we’ll go look at it. Now is the time to start doing some real estate before the end of the year.

Thanks for listening, have a great day, and I’ll talk to you next week.

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