The figures are in. And, we now know how the San Mateo County January homes market performed. In fact, its performance provides key perspectives for previous month and future month activity. Although, getting a feel for what the rest of 1st quarter 2020 has in store is a primary focus. As a result, a breakdown for January 2020 home sales and prices has the data readied. Also, it’s courtesy of 5 Star Real Estate agent, Carmen Miranda.
January 2020 Home Sales and Prices, San Mateo County Real Estate
The first thing pundits and average folks typically want to know is how single family, resale home sales and prices fared. That said, home sales activity took a dip. It dropped 42.8%, from December. Also, home sales dipped from a year-over-year (YoY) perspective, by 12.4%. Although, as noted in our December activity post, these dips are typical for the end/beginning of a year. And, 162 homes actually sold in San Mateo County last month. Note that the average since 2003 is 398.
Now when it comes to single family, resale pricing, that breaks down into two categories, median and average. That said, the median sales price took a dip, from December figures. And, it dipped by 4.7%. Although, the average sales price was up 4.5%. With the YoY ratio in mind, median sales price also dipped, by 1.4%. On the other hand, average price was up 8%.
If you’ve been keeping up, you know there’s some talk about inventory. And, single family, resale home inventory was down by 38.2%. That’s a figure derived from comparison to last year. Although, how many homes were actually for sale in January? Well, as of February 5th, the January 2020 home sales and prices data clearly shows there were 249, in San Mateo County. It’s interesting to note the average since January 2000 is 1,287.
Last month, it took about 42 days to sell a home. And, that’s an uptick from 39 days in December. In fact, that’s the time, from when a home is listed, to when it goes into contract.
If you plan to sell a home in San Mateo County, count on Carmen Miranda to provide the quickest, most efficient, solution in a dynamic market. In fact, she’s an expert sellers agent. Why not give her a call today?