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 16th 2017, with your Monday Morning Market Minute.
Okay, single-family inventory from South San Francisco to Redwood City right now is 132 — that’s down from 145 of last week. We had 43 homes come on the market, and we had 47 homes go into contract. Now as you know, that’s a very healthy number. Condominiums right now, 58 condominiums on the market — that’s up from 50 of last week. We had 18 condominiums come into the market, and we had 16 condominiums go into contract — that’s a pretty healthy number for condominiums.
So, total-total, from South San Francisco to Redwood City, single-family homes and condominiums, inventory is 190 — that’s down from 195. This is very typical for this time of year, for the inventory to start going down, pulling away from even that 200 number that we’re kinda watching right now.
For instance, right now, San Mateo had a 9 homes sell last week. Redwood City had 7 homes sell last week. Hey, the inventory is low, and if you’re thinking of selling your home, don’t be afraid of these holidays. Buyers are out there; they’re looking for the right home, so if your’re thinking of selling your home, now is still a great time. Naturally, I’d love to come out, see your home, put a plan together, and ultimately, help you get what you want and the time you want. Won’t that be great?
Thanks for listening, have a great day, and I’ll talk to you next week.