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Monday Morning Market Minute – October 23rd 2017

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 23rd 2017, with your Monday Morning Market Minute.

Okay, before I get started, quick shutout to Kirby Hawk and the gang. We’re up at Kirby’s Ranch over the weekend, up in Geyserville, ranch is Geyser Peaks Ranch. Had a great weekend, getting the ranch prepared for the winter. But driving through Anderson valley, and seeing what the fires had done — and if you’ve heard of the pocket fire, that’s where it was, at Kirby’s Ranch; pretty much Geyser Peak was the pocket fire. Unbelievable sights to see there. God bless the firefighters. God bless all the first responders for doing a great job, and ultimately really, saving the Ranch.

Okay, single-family inventory from South San Francisco to Redwood City right now is 111 — that’s way down from 132 of last week. We had 24 homes come on the market, and we had 36 homes go into contract — very healthy number, under the 40, but right there with the 2017 average.

Okay, condominiums. Right now, we have 45 condominiums on the market — that’s down from 58 of last week. We had 20 (28?) condominiums come into the market, and we had 21 condominiums go into contract — very very healthy number.

For instance, real quick here, market snapshot: Millbrae, 10 homes on the market right now. Belmont, 10 homes on the market right now. Foster City, 2 homes on the market right now. Hillsborough, 34 homes on the market right now.

So, total-total, single-family homes and condominiums from South San Francisco to Redwood City, right now that inventory is 156 — that’s down 18% of last week from the 190. So the market, like I said, inventory is selling off, and the inventory is getting lower and lower. So if you’re thinking of selling your home, now is still a great time. Less homes on the market, less competition, and naturally your home looks great during the holidays. So, if you are wanting to take advantage of this market place, you can still do it. I would love to come out and see your home, put a plan together, and ultimately, help you get what you want and the time you wanted it. Won’t that be great?

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

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