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Monday Morning Market Minute – September 18th 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, September 18th 2017 with your Monday Morning Market Minute. Okay, single-family inventory from South San Francisco to Redwood City right now is 146 — that’s up from 121 of last week. We had 59 homes come on the market — that’s a big number — and only 27 homes go into contract — that’s below the 40-number that we like to see, and below the 35-average of 2017. Condominiums, we have 65 condominiums on the market right now — that’s up from 57 of last week. We had 25 condominiums come into the market, and we had 19 condominiums go into contract — that’s a pretty healthy number. So, total-total, from South San Francisco to Redwood City, single-family homes and condominiums, inventory is 211 — that’s up from 178 of last week; the 7th time we’ve gone over the 200-marker in 2017; the high water mark for 2017 is 233. So out of the 211, what’s interesting, we have 37 homes for sale in San Mateo, we have 37 homes for sale in Hillsborough for instance, and San Carlos, we have 24 homes for sale. So, inventory has come up, so if you’re thinking of buying, now is a good time to get in there and find that home you’ve been looking for. And still, out of 90,000 homes from South City to Redwood City, we only have 211 available. Thanks for listening, have a great day, and I’ll talk to you next week.

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