If you have been paying attention to the 2019 market trends in San Mateo County, you know a couple of things. You know single-family, resale home sales has been down, for a number of months, in a row. Also, you know that prices for these homes are down year-over-year. Although, did you notice home inventory continues to expand? In fact, it has been higher than the year before, eleven months in a row. For example, last month, it was up 21.5% over last year. As a result, you may attribute these factors largely to interest rates, even with a May San Mateo County market review. Although, interest rates alone don’t account for them. Could it also have to do with list prices? Could inventory selection play a role? Of course, inflated list prices and limited selection could serve as big turn offs to potential buyers.
May San Mateo County Market Review 2019
Some downsides in the single-family, resale home market may result in often turning buyers to the new homes market. In fact, it’s conditions are easier to navigate. And, in the larger picture, new home sales seem on a steady rise. Although that ought not surprise anyone, since supply and selection of new homes tends to be greater. Not to mention more individual choice. Naturally, buyers love the option to add or change some features through a builder’s flexibility.
In May San Mateo County market review, we can take special note of how many homes were for sale. And, that’s a key factor that helps tell the story in a somewhat tight market. In fact as of May 5th, there were 486 homes for sale. Although, another interesting fact sheds light on what a seller must know. That is, time it takes to sell a home. As a result, that is one of the most essential facts in the review. And, sellers simply cannot afford to be in the dark about it. That said, it is taking about twenty-four days to sell a home. Keep in mind that means from when a home is listed to when it goes to contract.
Whether it’s a resale home, rebuilt or new home, San Mateo County real estate accounts for a large portion of the nation’s active market and its barometer. Although, the County has a tight and dynamic market. And, to get the best results from it, sellers especially need a seasoned, market expert on their team. If that describes you, why not contact one today? Why not give Carmen Miranda a call? Also, while you’re at it, ask for a free comparative market analysis. It’s just a phone call or email away.