Welcome to this month’s San Mateo County, California real estate market report for the month of July 2021. How has one of the hottest real estate markets performed over the last month? Are single-family home and condo prices still going up or pulling back in San Mateo County? Read this helpful report to find out.
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San Mateo Housing Statistics
The median sold price for single-family homes in San Mateo at the end of July was $2,111,000, a year-to-year increase of 23.1%. Single-family home prices are up 11% from April 2021, and 5% since the end of May 2021.
There were 448 single-family properties sold in San Mateo last month, a 1.1% increase from one year ago. Sold listings are down from 478 sold in June and 456 sold during May.
There were 500 new listings to hit the market in San Mateo during July, a drop of 1.0% compared to the previous July. New listings are down month to month from 516 in June, but higher than the 470 new listings during May of this year.
There is less than one month of single-family homes available to buyers in San Mateo, homes are on the market for an average of 16 days before being sold, and sellers are getting 106% of their list for their homes at closing.
San Mateo County Condo Stats
There were 124 condos sold in San Mateo last month, an increase of 4.2% compared to the previous July. Down from 168 sold in June and 136 sold in May of this year.
There were only 187 new condo listings in San Mateo last month, down 11% from one year ago.
There is only 1.2 months of condo inventory available to buyers in San Mateo. Condos are on the market for an average of 24 days before being sold, and sellers were getting an average of 105% of their asking price for their condo at closing.
What Does This Mean For Buyers?
Buyers looking for homes in San Mateo should expect a market of rising prices and overbidding for homes. However, this is not the case as some market segments remain flat.
Buyers should be aware that time is not on their side and that buyers should be ready to act quickly and aggressively when a property is found.
What Does This Mean For Sellers?
Now is a good time to sell your home or condo in San Mateo. The market is full of hungry buyers and low-interest rates. Some sellers may see significant over-listing price offers for their home or condo as the summer buying season heats up.
If you are thinking of selling your home or condo, give us a call today! We can help by pricing your home accurately, showing off the most desired features of your property, and marketing it to the most qualified of buyers!
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 $2,111,000 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 $939.000 or less.