Welcome to this month’s San Mateo County, California, real estate market report. Over the last month, San Mateo County has been one of the hottest real estate markets in the country. How much have single-family home prices climbed over the last month? Read this helpful to find out.
Are you ready to buy a home in San Mateo? Start your search here to find single-family homes or condos by price, size, location, and more. Be sure to save your favorites, then sign up to be notified as soon as new properties that meet your needs become available. Give us a call today and we can answer all your questions!
The climb in-home or condo prices may have you thinking of selling your home or condo but not sure for what price. Find out what your property may be worth by using our free home valuation tool. Simply enter some basic information about your property, then, we will provide a market estimation of your property. It is quick and easy, give us a call and we’ll get you started!
San Mateo Housing Statistics
At the end of April 2021, the median sale price for single-family homes in San Mateo County was $1,880,000, a year-to-year increase of 17.5%.
Over the last three months, single family home prices have climbed 13.6% compared to this same period one year ago.
A total of 534 single-family homes were sold during April, an increase of 137.33% compared to the previous April, reflecting the restrictions easing in the state this year.
There were 620 new single-family home listings to hit the market in San Mateo, also a steep increase of 78.67%, but not enough new listings to help with the lack of inventory of single-family homes available.
There is less than one month of single-family home inventory available to buyers at the end of April, a year-to-year drop of 66.67%.
Overbidding for single-family homes is common, sellers list price to sale price ratio is 109.8%, up 5.1% compared to one year ago.
The list price to sale price ratio for single-family homes has risen steadily over the last three years, averaging 104.4% during 2019, to 106.3% in 2020, and is 107.2% so far for 2021.
San Mateo County Condo Stats
Cond prices are cooling off a bit in San Mateo County, prices are down 5.6% over the last three months compared to this same time one year ago.
There were 180 condos sold last month, an increase of 87.5% compared to this time last year.
A total of 233 new condo listings became available during April, an increase of 164.77% compared to the previous April.
There is less than 1.3 months of condo inventory available in San Mateo, a year to year drop of 31.58%.
Sellers of condos are receiving on average 102.8% of their asking price, a drop of 0.7% from one year ago.
The average list to sale price ratio for condo sales in San Mateo has dropped from 103.57% at this time one year go to 102.1% at the end of 2021.
What Does This Mean For Buyers?
As inventory levels remain low and prices continue to rise, time is not a buyer’s friend right now. Buyers should remain focused and be prepared to act when a property is found. While the future is uncertain, work with your agent, ask questions and don’t be afraid to express your concerns.
Give us a call today at 650-627-3799 to get started and we can guide you through this difficult market.
What Does This Mean For Sellers?
If you own property and have been waiting to sell, now is time to get your home or condo listed and on the market. As demand continues and interest rates rise, sellers can expect to get a little more than their asking price for their homes.
San Mateo County Homes for Sale
Here are the most recent single-home listings just added to the database in the median sale price range for San Mateo County. All homes here are priced at $1,880,000 or less.
San Mateo County Condos for Sale
Here are the most recent condominium listings just added to the database in the median sale price range for San Mateo County. All homes here are priced at $937,000 or less.