Hi this is Dan Gilmartin with the Gilmartin Group Real Estate Company here in Burlingame California, February 1st 2016 the week of Super Bowl 50 with your Monday Morning Market Minute. Okay, so, why am I bringing up the Super Bowl? Well, many years ago we used to say “let’s put home on the market after the Super Bowl, let’s let the market wake up a little bit.” But here at the Gilmartin Group probably about three or four years ago we decided, discovered, that the best thing you can do if you’re think of selling your home is to put your home on the market before the Super Bowl. It’s like being the only girl at the dance!
Here’s the inventory from South City to Redwood City. One hundred and one homes for sale. That is the same as last week. We had 29 new homes come on the market and we had 28 home go into contract. Now last week we had thirteen home go into contract. And you may recall me saying that having 40 sales per week is a very healthy market. But still we had a 46% increase of homes going into contract. Plus we had two expires last week.
Now, on the condominium side of the conversation, thirty-six condominiums on the market. Last week was thirty-four. Roughly the same but we had twenty-three new condominiums come on the market and eighteen sales. Eighteen condominiums went into contract and again, last week was sixteen. That’s a very healthy number right there. Plus we had three expired.
Out of the two parts of the conversation, we have 137 homes for sale out of the 82,089 homes. Hey! Inventory is still really low. We’ve got a big exciting week ahead of us plus it’s Super Bowl 50. It’s going to be interesting to see after the Super Bowl what happens to the inventory. Thanks for listening and I’ll talk to you next week.