Welcome to this month’s San Mateo County real estate market report. This helpful report will get you up to date about the fast-moving house and condo market of San Mateo.
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San Mateo Housing Statistics
Single-family home sale prices in San Mateo are up 11.0% over the last three months compared to this time last year.
There were 427 single-family properties sold last month. The number of single-family properties sold is up 17.3% over the last three months compared to this time last year.
During November homes in San Mateo spent an average of 27 days on the market before being sold, this is a decrease of 6.5% from the 24-day average at this time one year ago.
Seller’s were averaging 102.6% of the list price for their home. Overbidding has slowed over this year, the list to sale price ratio has dropped 0.7% this year, down from 103.5% one year ago.
San Mateo County Homes And Condo Stats
The median sale price for condos has increased over the last three months compared to this time last year, up 1.7% from $905,000.
In San Mateo, during November condos averaged 31 days on the market before being sold, a drop of 4.7% from this time one year ago.
Sellers were getting 100.2% of the original list price for their condo during November 2020, down 1.5% from the 101.97% the previous November.
A total of 157 new condo listings hit the market last month in San Mateo. The new listings brought the total amount of condo inventory available to 2.1 months.
What Does This Mean For Buyers?
There is an abundance of competition, especially for move-in ready properties. Buyers should have financing in place and be ready to act when a property is found.
What Does This Mean For Sellers?
Sellers who want to sell quickly need to have their home priced correctly and show ready for buyers. As interest rates remain low and demand continues, sellers may see multiple offers on their property.
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 $1,650,000 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 $910,000 or less.