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%)|
Prices and Sales
Days of Inventory
Sale Price/List Price Ratio
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.