May was a month of certain uptrends. And, one of them was re-sale home prices. In fact, single family, re-sale home prices were up, from April’s. The same was true for median and average sales prices. As a result, median sales price rose 9.1% and average sales price rose 8.9%. When it comes to year-over-year, the median sales price was up 10.3%. Although, the average sales price fell 2.8%. All in all, these figures mean that May 2019 San Mateo County home prices closed out the month on a relatively positive note.
May 2019 San Mateo County Home Prices and Home Data Update
Other key news coming out of May market activity includes home sales factors. And, they were up 26% over last April. At the same time, when it comes to them year-over-year, they were down. In fact, they were down for the 7th month, in a row, by -6.8%.
Another key factor when analyzing May 2019 San Mateo County home prices has to do with sales price to list price ratio. Previously it was reported that this factor had its peak last spring. Then, it was up 113.3%. And, while it dropped to 102.4%, in January, it’s back up to 105.9%.
Homes Sold and Inventory Update
San Mateo County market data for May shows that 397 homes sold. Also, that’s a factor much in line with the average. In fact, 398 reflects the average for homes sold, since 2003. Although, what about how many homes were for sale? As of June 5th, there were 544. That’s an interesting figure, when compared to the average, since January 2003 of 1,287.
In May, inventory saw no change with a trend in expansion. Also, it has been higher than the year before, for 12 months, in a row. Point in fact, May reveals a 42.4% expansion, over last year.
What about days of inventory? That’s a key factor, since it is determined with the amount of time it would take to sell all homes for sale, divided by how many homes have sold. As a result, for May, days of inventory was down to 41.
One of the most relevant and key factors, especially related to sellers is time it takes to sell a home. Currently that about 21 days. Although, keep in mind that begins when a home is listed and ends when it goes into contract.
21 days, and it could be even better for home sellers, with the right professional assist. If you want to sell a San Mateo County home, now’s a great time to begin. And, you won’t skip a beat or miss a step, with a market expert and experienced real estate pro you can trust like Carmen Miranda. Why not give her a call today? And, while you’re at it, why not ask for her free comparative market analysis?