Welcome to this month’s San Mateo County real estate market report. How have the Covid restrictions affected the real estate market in San Mateo? Read this helpful report to find out.
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Give us a call at the Chris Eckert Real Estate Team | 650.627.3799 and we can answer all your real estate questions in San Mateo County!
San Mateo Housing Statistics
The median sale price for single-family homes in San Mateo ended December 2020 at $1,699,000, a year to year increase of 14.3%.
There were 236 new single-family homes to hit the market in San Mateo during December, a significant increase of 103.4% compared to the previous December. There were a total of 481 new single-family home listings in 2020, an increase from 351 in 2019, an up from 408 during 2018.
A total of 414 single-family homes sold in San Mateo at the end of December, up 35.29% for the year. Sales of single-family are up 26.1% over the last three months.
Single-family homes were on the market for an average of 27 days before being sold in December, there is approximately 0.8 months of inventory available.
In San Mateo sellers were receiving 102.2% of their list price at closing at the end of December 2020, list price to sale price averages have dropped over the last two years, down from 104.1% during 2018, and down from 102.9% during 2019.
What Does It Cost To Buy A House?
San Mateo County Homes And Condo Stats
The median sale price for condos in San Mateo at the end of December 2020 was $$830,000, a drop of 12.2% from one year ago.
There was an explosion of new condo listings during December, a total of 92 condos hit the market, up 109.9% compared to last year. New listings for condos have increased over the last two years, up from 108 in 2018, to 123 in 2019, and ending 2020 with a total of 186 new condo listings.
A total of 153 condos sold at the end of 2020 in San Mateo County, up 21.43% for the year. Condo sales have increased year to year as well, up from 108 in 2018, to 123 in 2019, and ending 2020 with 186 new listings.
Condos were on the market for an average of 39 days before being sold in December, there is 1.4 months of inventory available in San Mateo, and sellers of condos averaged 99.5% of the list price when selling their condos.
What Does This Mean For Buyers?
Buyers of homes or condos in San Mateo can expect to see prices rising and inventory diminishing. Inventory levels are lower this year than last, pushing prices upward. Buyers should be ready to act assertively when a property is found and work to make their offer stand out among other offers.
Contact us today and we can show you how we help buyers search for homes safely and make sure you don’t miss out on the perfect home!
What Does This Mean For Sellers?
With sales numbers increasing in both categories there is strong demand for both single-family homes and condos in San Mateo. Sellers of single-family homes are very much in demand now and condos are experiencing a surge in activity as well.
If you are ready to sell your home or condo today, give us a call and we can show you how to help you sell your property safely and quickly!
Give us a call at the Chris Eckert Real Estate Team | 650.627.3799 and we can answer all your real estate questions in San Mateo County!
See Additional Reports on the San Mateo County Real Estate Market
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 $1,699,000 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 $830,000 or less.
