August 2020 San Mateo County Market Activity

August 2020 San Mateo County market activity was marked with plenty of up-trends. And, it was a continuation of similar activity in July. In fact, August trends showed rises in activity, from home sales and home pricing, to sales to list price ratio and home inventory. All that as it relates to single family, resale homes. Although, there were a few down turns. At the same time, they did not tip the scales, weighing in at a solid month. As a result, for those interested in a closer look, details and analysis for August 2020 are provided below, courtesy of one of the nation’s top real estate agents, Carmen Miranda.

San Mateo County Market Activity and Trends

Trends At-a-Glance for San Mateo County
Trends At a Glance Aug 2020 Previous Month Year-over-Year
Median Price $1,800,000 (+4.3%) $1,725,000 $1,543,500 (+16.6%)
Average Price $2,274,470 (+4.7%) $2,172,280 $1,830,190 (+24.3%)
No. of Sales 362 (-15.2%) 427 336 (+7.7%)
Pending 429 (+5.9%) 405 278 (+54.3%)
Active 559 (+7.5%) 520 493 (+13.4%)
Sale vs. List Price 102.4 (+1.1%) 101.3 104.1 (-1.7%)
Days on Market 26 (-8.8%) 28 30 (-13.7%)
Days of Inventory 46 (+26.8%) 37 44 (+5.2%)
Market Barometer
August 2020 San Mateo County market activity
Prices and Sales
Days of Inventory
August 2020 San Mateo County market activity
Sales Year-to-Date
Sale Price/List Price Ratio

August 2020 Single Family Market Overview

Single family, resale home prices jumped to all time highs, in August. And, the median sales price was up by 4.3%. over July. Plus, it was up by 16.6%, year-over-year (YoY). Although, what was the new median sales price high? In fact, it reached $1,800,000. At the same time, the average price was up by 4.7% over July. Also, it rose by 24.3% YoY. In fact, it reached a record high of $2,274,470.

August 2020 San Mateo County market activity shows more upward momentum in sales activity. And, single family resale homes sales were up 7.7% YoY. Although, they were down slightly from July by -15.2%. At the same time, in August a total of 362 homes sold in San Mateo County. In fact, that total comes close to the average since 2000, of 398.

And what about the sales price to list price ratio? It rose from 101.3% to 102.4%. Although, it was down slightly by -1.7% YoY.

When it comes to home inventory, it was up by 13.4% YoY. Although, it was also up by 7.5% over July. And as of September 5th, there were 559, San Mateo County homes for sale.

It took about 26 days, to sell a home in August. By the way, that’s the time, from when a home is listed to when it goes into contract. That said, if you plan to sell your property, call me for a free home value analysis.