Real Estate Update – Mid Peninsula
Dan Gilmartin reviews the weekly home inventory numbers.
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Single family inventory from South San Francisco to Redwood City right now is 162 that is down from 184 of last week. We had 24 homes come onto the market which is a light number and to be expected on labor day weekend and 38 homes go into contract thats a very healthy number for a holiday week.
Condominiums right now, 75 condominiums on the market that is down of 84 last week. We had 6 condominiums come onto the market another light number and 18 condominiums go into contract another healthy number!
So total total from South San Francisco to Redwood City single family homes and condominiums; inventory is 237 that is down from 268 that is an extremely low number, what we want to do now is see where inventory goes from here once we get passed labor day and see how inventory reacts in the next set of holidays. If inventory continues to rise we might have some what of a soft landing, but if we continue to stay down like this market is going to continue to be very hot and 2020 is going to start off to be very hot. That is what we are watching at this last quarter of the year we want to really watch that inventory we will get more into this on our podcast Beyond the Minute 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!