December 2020 San Mateo County Real Estate

Now that we are on our way into the new year, it gives us a chance to review how 2020 closed. And, the look back should provide a lot of insight for how December 2020 San Mateo County real estate may reflect on January and the 1st quarter. In fact, we should find many trends continuing into December, from previous months of 2020. For example, San Mateo County homes for sale continued on an uptrend in total sales and increased pricing, when it comes to single family, resale property. Although, for best way to get a good sense of how December played out and its influence on January 2021, it pays to look at all the data. As a result, you can find that below, courtesy of local market expert, Carmen Miranda.

December 2020 San Mateo County Real Estate Activity Overview

Trends At-a-Glance for San Mateo County
Trends At a Glance Dec 2020 Previous Month Year-over-Year
Median Price $1,699,500 (+3.3%) $1,645,000 $1,475,000 (+15.2%)
Average Price $2,080,410 (-0.2%) $2,085,040 $1,791,370 (+16.1%)
No. of Sales 390 (-4.9%) 410 285 (+36.8%)
Pending 290 (-33.2%) 434 155 (+87.1%)
Active 252 (-45.3%) 461 269 (-6.3%)
Sale vs. List Price 102.0 (-0.5%) 102.6 101.9 (+0.1%)
Days on Market 27 (+5.3%) 25 38 (-30.3%)
Days of Inventory 19 (-40.6%) 33 28 (-31.5%)
Market Barometer
December 2020 San Mateo County Real Estate
Prices and Sales
December 2020 San Mateo County Homes Market
Days of Inventory
Sales Year-to-Date
Sale Price/List Price Ratio

Market Overview

As mentioned, and if you looked over some of the data points above, you know that sales of single family, resale homes were up. And, they were up for the 6th month in a row, in December. In fact, that’s a strong showing, in a month and year that was marked by a lot of slow downs in other areas of the economy. Not only that. Home sales rose year-over-year (YoY), by 36.8%. At the same time, for the year, homes sales rose by 0.7%. Also, the amount of San Mateo County homes for sale that actually sold in the month settled at 390. As a result, that’s a comparative high when set against the average since 2000 of 398.

When it comes to pricing, December 2020 San Mateo County real estate activity shows a continued trend on the high end. And, although it doesn’t meet an exceptional high set in August, December median sales price was up YoY, by 15.2%. At the same time, average price showed a similar trend. In fact, it was up 16.1% YoY. Although in a related data point, the sales price to list price ratio fell slightly, from 102.7% to 102.0%.

The single family, resale homes inventory was also up compared to last year. And, it was up by 6.3%. In fact, as of January 5th, 252 homes were for sale in San Mateo County.

Home Selling Overview

What about the amount of time it took to sell a home in December? With the data in tow, the average settled around 27 days. And, that’s the time frame from when a home is listed, to when it goes into contract. With that in mind, are you planning to sell your property? Now may be the best time to start the process. Since many indicators point to more of the same high points in activity, it’s a great time for sellers. As a result, why not give a market expert and home selling pro a call? Why not contact Carmen today?