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Monday Morning Market Minute – September 24th 2018

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 24th 2018, with your Monday Morning Market Minute.

Okay, single-family inventory from South San Francisco to Redwood City right now is 224 — that’s down slightly from 227 of last week. We had 54 homes come on the market — very healthy number — and we had 54 homes go into contract — that’s a very healthy number.

Condominiums right now, 83 condominiums on the market — that’s up slightly from 79 of last week. We had 21 condominiums come on the market — that’s a healthy number — and we also had 14 condominiums go into contract. Very healthy market.

So total-total, from South San Francisco to Redwood City, single-family homes and condominiums, inventory is 307 — up from 306 of last week. Again, here is another week where we stay above 300, and like you’ve heard me say, it’s been years since we’ve been over 300, and yet we’re hovering just at low 300.

So the market’s showing very good resiliency, but I’ll tell you what’s a factor there: we also had 25 price reductions last week — that’s a high number, or a higher number than we’ve seen all year. So, the market’s adjusting, and when it does, the buyers are buying. So if you’re thinking of selling your home, now is still a great time, and the first step is to click the link below to get a free home evaluation — and then the next step is invite me over so we can put a plan together to help you, ultimately, get you what you want and the time you want. Won’t that be great?

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

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