Glance at San Mateo County Real Estate Trends

The latest glance at San Mateo County real estate trends reveals an active market and a number of upsides. Also, there’s plenty to glean from this report that points to a productive 1st quarter in the new year. As a result, have a look at the closing trends in 4th quarter, 2017.  You can also read on for some analysis, and View Full Report Online.

A Glance at San Mateo County Real Estate Trends Ending 4th Quarter

Trends At-a-Glance for San Mateo County

Trends At a Glance Dec 2017 Previous Month Year-over-Year
Median Price $1,500,000 (0.0%) $1,500,000 $1,325,000 (+13.2%)
Average Price $1,861,700 (+0.8%) $1,847,310 $1,642,140 (+13.4%)
No. of Sales 308 (-16.8%) 370 311 (-1.0%)
Pending 185 (-39.9%) 308 197 (-6.1%)
Active 165 (-38.2%) 267 271 (-39.1%)
Sale vs. List Price 109.6% (+1.1%) 108.4% 103.7% (+5.7%)
Days on Market 28 (+34.2%) 21 31 (-10.1%)
Days of Inventory 16 (-23.2%) 21 26 (-38.5%)

 

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Market Barometer

Glance at San Mateo County Real Estate Trends

Prices and Sales

Days of Inventory

Sales Year-to-Date

Sale Price/List Price Ratio

Glance at San Mateo County Real Estate Trends, Overview

Some takeaways from December’s data round up.

1. Prices for single-family, resale homes surged again in December. Also, they reached a new high. In fact, the high shows in a gain of 13.4% year-over-year.

2. The lack of inventory continued to affect sales activity. Both homes and condo sales trended down. Although, home sales trended down only slightly, 1.0%.

3. Bidding wars continue to shape the buyers market. Also, this trend to multiple offers is mainly a product of the low inventory issue. In fact, buyers paid in excess of the list price by 109.6% for homes, 107.6% for condos.

4. Both single family homes and condos are selling at record pace. That is, homes sales were within an average of 28 days. Also, condo sales fell within an average of 17 days.

For more details than a glance at San Mateo County real estate trends herein, contact a San Mateo County real estate agent. Also, for professional assistance with home buying or selling, contact an expert. In fact, contact 5 Star Real Estate Agent, Carmen Miranda. No one may know the San Mateo County market and know how to make it work for your benefit better than Carmen.

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