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 3rd — Labor Day 2018, God bless America, with your Monday Morning Market Minute.
Okay, single-family inventory from South San Francisco to Redwood City right now is 178 — that’s down from 185 of last week. We had 45 homes come on the market, and we had 32 homes go into contract. Again, towards the end of summer here, that’s a pretty good number, although we like to see 40 week in and week out; 32 is a great number for the end of the summer.
Condominiums, right now we have 48 condominiums on the market — that’s down from 53 of last week. We had 6 condominiums come on the market and 9 condominiums go into contract — that’s below 13 of last week, so I’d like to see a little higher number there.
But total-total, from South San Francisco to Redwood City, single family homes and condominiums, inventory is 226 — that’s down from 238. So everyone’s trying to walk around and say ‘hey, the market’s changing.’ I’m going to tell you right now: inventory is low. If you’re thinking of selling your home, it’s still a great time.
Thanks for listening, have a great day — have a great Labor Day, and again, God bless this country of ours. Talk to you next week.