Real Estate Update – Mid Peninsula
Dan Gilmartin reviews the weekly home inventory numbers.
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So, what’s going on with the housing market on the Mid Peninsula in San Mateo County?
Welcome to the Monday Morning Market Minute where I go over the weekly housing inventory report for the Mid Peninsula in San Mateo County. Hi, I’m Dan Gilmartin. I’m part of the Gilmartin Group Real Estate company in Burlingame, California. It is September 8th, 2025. Let’s get started.
Single family inventory from South San Francisco to Redwood City right now is 189. That’s actually up from last week’s 163. 163 was a very low inventory number for this time of year. Last year this time that number was 176. In 2023 193 in 2021 224, the 2021 number 121 and that 2020 number was 214. Again, here we are at 189.
We had 63 homes come on the market. That’s a large number. Last week, the number was 29 and we had only 23 go into contract with the average days on market on those homes that went into contract uh 18 days. Last week, the number was 44. And let me pause and say that August proved be to be a very robust month in sales. We had high sales weekend and week all through August. And then we came into Labor Day weekend. Obviously, that’s what the numbers we have here. And it seemed like everyone everyone wanted to get their deal done or buy a home before Labor Day because we had massive sales in August, which was very interesting to watch.
Condominiums and town homes right now 210. That is up from last week’s 202. Last year this time that number was 155. In 2023, that number was 112. 2022 162. The 2021 118. And that 2020 number 164. Here we are again at a very large number at 210. We had 28 come onto the market and we only had well we had 15 go into contract. We like to see in the teens teens and higher so mid- teens there. Last week the number was 15 as well.
Average days on market for the condominiums that went into contract was 32 days. And the average days on market for the town homes that went into contract was actually 35 days. But we had one town home that actually took 57 days. When I pulled that out of the study, the days on market for the other town homes that went into contract dropped dramatically to 14 days. We also had 21 homes either expire, cancel, withdraw from the marketplace and 21 price reductions.
So, total total from South San Francisco to Redwood City. Single family homes, condominiums, and town homes, inventory is 399. That’s up from last week’s 365. Last year, this time that number was 331. In 2023, that number was 305. And the 2022 number was 386. Again, here we’re at 399. And last week that number at 365 was a very lower number. It is this town home condominium inventory number that’s really ballooning that number. But with only 189 single family homes on the market right now, inventory is generally very low right now.
We’re going to get through this post Labor Day holiday. And what when what I’m seeing in the news with the talks of the couple interest rate drops, maybe one, maybe two, not sure, it is definitely causing buyers to get off the fence. So if you are thinking of selling, know that the market’s feeling like it’s going to be pretty darn hot here as on our finish. And if this continues, we’ll be talking about a very hot, robust start in 2026.
Thanks for listening. Have a great day and I’ll talk to you next week.