Real Estate Update – Mid Peninsula
Dan Gilmartin reviews the weekly home inventory numbers.
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Single family inventory, from South San Francisco to Redwood City, right now is 210. That’s up slightly from last week’s 206, Last year at this time that number was 228 and it represented a 2019 peak in single family of inventory 228. We had 46 homes come on the market. That’s a little bit lower than last weeks 48. Last year this time, 46 homes came on the market. We also had 45 homes going to contract last week over two, 52 at 45 is a very, very healthy number above that 40 that we typically like see week over week. Last year, that number was only 33.
Condominiums right now we have 173 condominiums on the market. thats actually down one tick from last week, 174. Last year at this time that number was 99. We had 20 economies come on the market and we had a whopping 22 Condominiums going to contract. That’s a super healthy number. You know, more inventory in the kind of been talking about which I’ve been talking about obviously equals more sales. Last week the number was only 12.
We also had 10 homes either expire, cancel, withdraw from the marketplace and we had another twenty eight homes reduced their price
So total total from south San Francisco to Redwood City, single family homes and condominiums. Inventory is 383. That’s up slightly from last week’s 380. And then again, last year, that number was 327, which represented a new 2019 total total inventory of 327 of 383. More inventory still with the condominiums. Less inventory with single family homes. Interest rates are still way down. Market’s really functioning very, very efficiently right now. So if you are thinking of selling your home, it’s not too late and buyers take advantage of this fantastic interest rates. Now is a great time to find a great home. Have your own space. Have you know what I mean? Thanks for listening. Have a great day. I’ll talk to you next week.