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Monday Morning Market Minute – October 30th 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 Comapany in Burlingame, California, October 30th 2017 — Happy Halloween! — with your Monday Morning Market Minute.

Before I get started, I had another fabulous weekend. My niece, Ali Gilmartin — now Ali Davis, got married on Saturday; what a wonderful wedding, what a great time seeing friends and family. If you were there, you know how wonderful that was.

Okay, single-family inventory from South San Francisco to Redwood City right now is 110 — that’s down 1 tick from 111 of last week. We had 27 homes come on the market, and we had 27 homes go into contract, below the 2017 average of 35 and below that 40-number that we really like to see week in and week out.

Condominiums right now, 45 condominiums on the market — that’s just the same as last week. We had 19 condominiums come into the market, and we had 17 condominiums go into contract; pretty healthy number; we’ve seen higher numbers, but still pretty healthy number because inventory is so low.

A little snap show of the market: Burlingame has 10 homes on the market right now. San Bruno, 16 homes on the market right now. San Carlos, 11 homes on the market right now. Redwood Shores, where they call Redwood Shores, 1 home for sale on the market right now.

So total-total, from South San Francisco to Redwood City, single-family homes and condominiums, inventory is 155. Last week was 156. Still extremely low inventory. So if you’re thinking of selling your home, the market is still super strong.

Hey, another thing we were doing that didn’t work out, but let’s see if we can do it again: Question of the Week. If you have a question about real estate here on the peninsula, give me a shout; I’d be more that happy to answer your questions.

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