January 2020 San Mateo Market Overview

What can January 2020 tell us about how the real estate market is faring in the new year? That’s what pundits and many average folks want to know. And, it’s certainly something of interest to many involved with San Mateo County real estate. In fact, Carmen Miranda knows that keeping an eye on market activity and trends is totally essential. It’s vital to operating at top performance level for real estate pros. As a result, the following January 2020 San Mateo Market overview lays out how each key activity went down, courtesy of Carmen. Also, you can contact her with any questions about home selling or buying in the County.

January 2020 San Mateo Market Overview and Trends As a Glance

Trends At-a-Glance for San Mateo County
Trends At a Glance Jan 2020 Previous Month Year-over-Year
Median Price $1,405,440 (-4.7%) $1,475,000 $1,425,000 (-1.4%)
Average Price $1,874,930 (+4.5%) $1,793,520 $1,735,520 (+8.0%)
No. of Sales 162 (-42.8%) 283 185 (-12.4%)
Pending 191 (+15.1%) 166 166 (+15.1%)
Active 249 (+5.1%) 237 403 (-38.2%)
Sale vs. List Price 101.8 (-0.1%) 101.9 102.0 (-0.2%)
Days on Market 42 (+8.9%) 39 36 (+15.6%)
Days of Inventory 46 (+83.5%) 25 65 (-29.4%)
Market Barometer
Prices and Sales
January 2020 San Mateo Market Overview
Days of Inventory
Sales Year-to-Date
Sale Price/List Price Ratio
Market Overview

Home Inventory Down 6th Month in a Row

Inventory of single-family, re-sale homes was down 33.1% compared to last year. As of February 5th, there were 249 homes for sale in San Mateo County. The average since January 2000 is 1,287.

The median sales price for single-family, re-sale homes was down, year-over-year, by 1.4%. The average price, on the other hand, was up 4.9%.

The median sales price was down 3.1% compared to December. The average sales price was up 6.2%.

The sales price to list price ratio dropped from 102.1% to 101.8%.

Home sales dropped 40.2% from December. That is typical for December/January. Home sales were up 3.2% year-over-year. There were 162 homes sold in San Mateo County last month. The average since 2003 is 398.

It took forty-seven days to sell a home last month. That is up from twenty-five in November. That is the time from when a home is listed to when it goes into contract.

The median sales price for re-sale condos fell 6.1% year-over-year. It was down 9.1% from December. The average sales price fell 10.1% from December. Year-over-year, the average sales price rose 9.7%.

If you are planning on selling your property, call me for a free comparative market analysis.