Real Estate Update – Mid Peninsula
Dan Gilmartin reviews the weekly home inventory numbers.
See your home value right now: http://www.thegilmartins.com/home-valuation/
Hi, this is Dan Gilmartin, part of the Gilmartin Group Real Estate Company in Burlingame, California, September 23rd 2019, with your first day of FAll Monday Morning Market Minute .
Single family inventory from South San Francisco to Redwood City right now is 218 which is down from last weeks 228 which is the 2019 peak. WE had 44 homes come onto the market and we had 46 homes go into contract VERY HEALTHY number, more listings equals more sales.
Condominiums right now 112, that is up from last weeks 99, and a 2019 peak for condominiums. We had 33 condominiums come on to the market and 15 condominiums go into contract now that is not like last weeks 23. Here is omething interesting 15 homes expired, cancelled or withrew from the market, and 19 piice reductions. Price reductions also equal more sales.
So total total from South San Francisco to Redwood City single family homes and condominiums; inventory is 330 up from last weeks 327 and creating a NEW 2019 peak in inventory. Remember 2018 that peak number is 344 so that is what we are watching are we going to go over that 344 number here in 2019 with 46 sales healthy sales liek taht and another 15 sales it is going to be very interesting to see how that goes.
Also listen to Beyond the Minute podcast where we will take a deeper dive into the numbers and what is happening in the market.
Thanks for listening and we will talk to you next week!