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/
Single family inventory from South San Francisco to Redwood City right now is 219 which is up from last weeks 218. WE had 46 homes come onto the market and we had 39 homes go into contract.
Condominiums right now 112, exactly the same as last week. We had 20 condominiums come on to the market and 18condominiums go into contract. Here is something interesting 18 homes expired, cancelled or withdrew from the market, and 19 more price reductions.
So total total from South San Francisco to Redwood City single family homes and condominiums; inventory is 331 up from last weeks 330.Here is something very interesting, October 1st, 2018 we jumped from total Total inventory from 307 to 331. How interesting is that? Than we reached our peak of 344 on October 22nd 2018.
Where is this marketing going ? That is what we are watching we are watching to see if we are going to go over the 344, last year it was on the 22nd of October. Are we going to go over that or stay under that? What does that mean in terms of going into next year? This year was really a positive year all in all there is a lot of rhetoric out there that the market is shifting and changing, and yet I am seeing a lot of multiple offers and at the same time we are seeing price reductions. In confusion does lie opportunity. That is why if you are thinking of selling or buying you want to call a professional.
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!