Condos are a major part of the San Mateo County market. As a result, it’s a must to include their market activity in reporting. And, real estate pro, Carmen Miranda does that, each month. In fact, the August 2019 San Mateo County condo market has a lot to tell us, when it comes to overall market trends. Also, how it fares intertwines with how the single family home market fares. That’s true for many factors. That said, you can view Carmen’s full real estate market report. Although, let’s have a look at some of the highlights, as it relates to condos now.
August 2019 San Mateo County Condo Market Review
Interestingly, when it comes to condo sales price, some factors vary, from that of single family resale homes. For example, unlike median sales price for the latter, condo median sales price rose. And, it rose at a rate of 14.2%, year-over-year. Although, comparing to the data for previous month, July, the median sales price rose by 12.3%.
The August 2019 San Mateo County condo market also showed a rise in average sales price. And, it rose, over July, by 4%. Although, what about the year-over-year perspective? In that, the average sales price gained 3.5%.
A lot more to the condo sales story includes a focus on actual sales. And, the market data showed a rise in that. In fact, the rise leveled off at 23.6%, year-over-year.
Another key part of the condo market story for August includes inventory. In fact, inventory must be a part of any full analysis for a homes market. That said, it keeps expanding for condos. And in this area, condo activity is much the same as single family resale homes. Condo inventory has been higher than the year before. Also, it’s been higher 13 months, in a row. In fact, it gained over last August, by 39.1%. Although, single family was slightly higher, at 14 months, in a row.
Naturally, inquiring minds want to know how many San Mateo County condos for sale were on the market in August. That said, as of September 5th, there were 131 for sale. And, on an key side note, the average, since January 2003 is 350.
Do you want a more detailed look at San Mateo County real estate trends? Do you want that, as it relates to your home selling goals? Simply contact Carmen Miranda. Also, why not ask for her free home value analysis now?