We hope you enjoy this month’s San Mateo County real estate market report for October 2019.
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San Mateo Housing Statistics
The median sale price for single-family homes in the San Mateo real estate market for October 2019 is $1,595,000, up 3.0% from this time last year.
The median sales price for single-family homes has increased over the last three months from $1,449,600 in July 2019, and up slightly from the August 2019 median of $1,559,900.
There were 571 new single-family home listings during September 2019, a decrease of 6.39% compared to this time last year.
There was also a decrease from year to year of homes sold during this time, down 7.55% to 294 ending September 2019.
Median days on the market for single-family homes were lower going into October 2019, increasing 7.14% to 13 days on the market.
Inventory is the same when compared to this time last year, seeing no change and holding at 2.2 months of single-family housing available.
San Mateo Condo Stats
The median sale price for condo and townhouses ending September 2019 is $946,900, up 7.7% from one year ago.
The median sale price for condos is only slightly down over the last three months. Down from $949,000 in July 2019, but up from the August 2019 median of $866,400.
There were 194 new condo/townhome listings during September 2019, a huge 26.80% increase compared to one year ago. Condo/townhouse inventory has increased over the last three months, up from 131 in July 2019, and 122 during August 2019.
Condo/townhouse inventory has increased over the last three months, up from 131 in July 2019, and 122 during August 2019.
Condo/townhome sales in San Mateo County have fallen over the last three months; there were 129 condo/townhomes sold in July 2019, 118 during August 2019, and 73 for September 2019.
While the sales to list price ratio have decreased 5.4% over the last year, the sales price to list price ratio has increased for condos/townhomes over the last three month period, increasing from 102.0% in July 2019 to 102.7% in September 2019.
The median days on the market before being sold for condos/townhomes is down 7.69% to 12 days compared to this time last year, however over the last three months the median has dropped from 14 days in July 2019 to 12 days in September 2019.
What Does This Mean For Buyers?
For buyers looking for a property in San Mateo County can expect to see less single-family homes available, and an increase of condo/townhomes for sale.
Buyers may see a little less competition for homes; however, buyers may end up paying more than asking price when they find the perfect property.
The Chris Eckert Real Estate Team can help you locate the perfect home or investment property. Give us a call today and let’s get started.
What Does This Mean For Sellers?
Sellers who are selling a home or property in San Mateo County may see buyers who are more picky and hesitant.
While there is an increased demand for condos/townhomes, there is slightly less demand for single-family homes.
We list and sell all types of housing, single-family homes, condo/townhomes, and investment properties.
We understand the market and work with you to sell your property to get you the most amount of money. Give us a call today to get started.
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 $1,595,000 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 $946,900 or less.