2018 San Mateo County Real Estate Market Trends Through February

Well, here we are headed into the last stretch of 1st quarter 2018. Also, it’s been quite an interesting ride. In fact, it’s been one with a number of upsides. Although, keeping it in perspective, for real estate pros is always the best policy. As a result, for some perspective in details, including graphs and the numbers, have a look at these 2018 San Mateo County real estate market trends through February.

2018 San Mateo County Real Estate Market Trends Through February

Trends At-a-Glance for San Mateo County

Trends At a Glance Feb 2018 Previous Month Year-over-Year
Median Price $1,610,000 (+11.0%) $1,450,000 $1,352,000 (+19.1%)
Average Price $2,024,690 (+15.0%) $1,760,780 $1,620,480 (+24.9%)
No. of Sales 215 (+30.3%) 165 193 (+11.4%)
Pending 284 (+34.0%) 212 255 (+11.4%)
Active 250 (+22.0%) 205 313 (-20.1%)
Sale vs. List Price 112.2% (+1.8%) 110.2% 104.8% (+7.1%)
Days on Market 21 (-24.1%) 28 31 (-31.3%)
Days of Inventory 31 (-15.8%) 37 44 (-28.3%)

 

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Market Barometer

2018 San Mateo County Real Estate Market Trends Through February

Prices and Sales

Days of Inventory

Sales Year-to-Date

Sale Price/List Price Ratio

Market Overview

Some takeaways for the trends in 1st quarter 2018 through February include a continuation of new highs in pricing. That’s true for both single family, resale homes and condos. In fact, the median price for homes has well exceeded that of the prior year. Also, this trend has not changed for about 6, consecutive months. What’s more, it is expected to continue into 2nd quarter 2018.

Other steadily trending features of 2018 San Mateo County real estate market trends through February include multiple offers on San Mateo County homes for sale. Also, this trend is expected to continue. In fact, it appears as consistent a trend as that of highs in pricing.

Not surprisingly, low inventory continues to be a key player in 2018 1st quarter trends. It too is forecast to remain a determining factor in the San Mateo County real estate market. As a result, high home demand and low inventory seem to be setting the norm for through 2018.

Visit the full report for more details and even some tips on the difference between a Deed and a Title.