Welcome to this month’s San Mateo County real estate market report, presented to you by The Chris Eckert Real Estate Team .
How has the real estate market in San Mateo performed this last year? Want to know what to expect if you are planning to buy or sell a home in the coming months? This report will break down the numbers of single-family homes and condo sales over the last month.
Are you thinking of buying a home in the coming months? If you are, you can search for homes using our search tool. Browse for homes by price, square footage, or neighborhood. Be sure to save your searches and sign up to be notified as soon as new properties that match your criteria become available.
Are you considering selling your home and want to know what it might be worth? We provide a free home valuation tool that will provide you with an estimate of your home’s value. It’s free and easy to use, simply answer a few questions and we will provide you with a report estimating what your home might sell for. Give us a call and we can go to work for you getting your home listed and sold.
San Mateo Housing Statistics
The median sales price for single-family homes in the San Mateo real estate market ended 2019 at $1,475,000, up 1.2% for the year, and up 1.7% over the last three months. The high for the year was in May when the median sales price climbed to $1,765,000.
In December 2019, there were 300 homes sold, down from 329 the previous month. The number of single-family residence sales is down 3.6% over the last six months. The highest number of sales for the year was 431 during the month of May this year.
New listings dropped during the month of December, falling to 117 compared to 209 in November. Listings for single-family homes are down 13.9% over the last three months. The most active month for new listings last year was 580 during May.
The sold price to list price ratio has declined 1.2% over the last three months, falling to 101.8% in December 2019, down from 103.7% in October. The high for 2019 was during May when the sold to list price ratio was 106%.
In San Mateo during the last three months homes have stayed on the market a little longer before being sold. The median number of days on the market for homes ended December 2019 at 23, up from 13 during November, and overall down 7.7% for the last three months.
San Mateo County Condo and Townhome Stats
The median sales price for condos in San Mateo ended December 2019 at $950,000, down 1.0% from one year ago, but up from $890,000 in November 2019. Condo sales prices have fall 0.8% over the last three months. The high for 2019 was during May when the median sales price increased to $1,039,000.
There were 121 condo listings sold during December, an increase from 112 in November, and the number of condos sold has climbed 12.3% over the last six months. The highest number of condos sold was 131 in the month of July.
In the San Mateo area there were only 44 new listings to become available in December; this is a steep decrease from 100 new listings in November. New condo listings have kept pace with sales, increasing 12.3% over the previous six months.
The condo sold to list price ratio ended December 2019 at 101.5%, slightly decreasing from 101.7% the previous month. Sales price to list price has fallen 2.0% over the last three months, and is down from the high of 104.3% in May of 2019.
In San Mateo, the median number of days a condo was on the market before being sold was 24 at the end of December 2019. The median increased from 19 in November, and 14 during October. When compared to this time last year, the median days on the market before being sold is down 1.7%.
What Does This Mean For Buyers?
In the San Mateo area, buyers can expect low inventory, rising prices, and a competitive buying market. Strong job growth in the area and interest rates being very attractive will create an increase in demand for homes.
Buyers should have financing in place and stay up to date with new listings as they become available. Be sure to search properties on our site, and sign up to be notified as soon as new properties become available. Then give The Chris Eckert Real Estate Team a call and let us go to work for you to find you the perfect home.
What Does This Mean For Sellers?
Now is a great time to sell your home or condo in San Mateo! There is currently a strong demand for housing in the area and sellers can take advantage of the opportunity.
If you are thinking of selling your home consider this, over the decade, home prices have increased from $730,000 to $1,475,000, an increase of 102%! If you are interested in getting the most from your investment in your home or condo, use our free home valuation tool, its free and easy to use.
Then, give us a call and we can answer all of your questions about selling your home. We put our experience to work for you to market your home to the most qualified buyers to sell your home quickly. Give The Chris Eckert Real Estate Team a call today
See Additional Reports on the San Mateo County Real Estate Market
San Mateo County Homes for Sale
Here are the most recent home listings just added to the database in the median sale price range for San Mateo County. All homes here are priced at $1,475,000 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 $950,000 or less.