It may come as no surprise to many that February 2019 median home pricing data showed a sustained down trend. That’s certainly true for San Mateo County real estate. Also, it has been trending that way for some months now, and noted in previous posts. That said, it helps to gain some solid concept of home pricing standards. In fact, some might say that the opposite is true. They might say that home pricing was up. As of January, figures do show it up for average pricing. Although, median pricing is the more useful tool for looking at prices. Why? Well, its the midway number between half the homes sold at a lower price and the other half of homes sold at a higher price. In other words, it’s usually the more realistic number to go by.
San Mateo County February 2019 Median Home Pricing Update
Average price can be easily skewed by sales that are quite high or quite low. As a result, a home buyer may even skip looking at homes in an area they like a lot. In fact, it might actually be a great place to look. Although, they may skip it simply since they relied on average pricing data. And, it skewed to the high end. It skewed due to a very pricey home or two selling in the area. As a result, home buyers can benefit hugely from knowing what exactly drives average and what drives median pricing.
San Mateo County January 2019 median home pricing was down from December’s number, by 3.6%. Also, December’s number was on the down trend. As a result, buyers have a realistic view of a softening in the market. And, that points to the chance of finding homes, in great locations, with sensible pricing now. The outlook differs widely, when compared to average pricing. Left to that figure alone, at $1,787,210, home pricing seems on the uptrend, 4.0% over December.
For details on the latest home pricing trends, view Carmen Miranda’s Monthly Report. Although, for full details on San Mateo County market trends, why not consult an expert? Why not consult Carmen Miranda?