San Mateo County condo market activity in October was quite active, as usual. And, it played out in a number of the usual data points. In fact, much of that resulted in down trends. That said, October 2019 San Mateo County condo market trends give us insight into current and future activity. Although, where do you get a good look at the data? Well, right here, right now, courtesy of Five Star Real Estate Agent, Carmen Miranda.
October 2019 San Mateo County Condo Market Overview
October ended with an uptrend in condo sales. And, sales rose by a healthy 17.3%. In fact, that’s a year-over-year percentage. At the same time, the key factors of median and average sales pricing were down. In fact, median sales price for re-sale condos fell. And, it fell 1.2% year-over-year. Although, it was down 3.6% from September. When it comes to the average sales price, it also fell slightly. It fell 0.4% from September. That said, from a year-over-year perspective, the average sales price dropped 2.9%.
The trend in condo inventory hasn’t changed significantly. That is, it continues to expand. And, it was up 41.7% over last October. In fact, inventory has been higher than the year before for 15 months in a row, now. Although, what about the cardinal factor of San Mateo County condos for sale? How many were there on the October market? In fact as of November 5th, there were 181.
October 2019 San Mateo County condo market trends also give us a good look at days of inventory data. And, that data focuses on the amount of time it would take to sell all homes for sale, divided by how many homes have sold. As a result, it’s an interesting equation that shows a nice dip in length of time. In fact, for October it dropped from 69 to 42 days.
The latest data on time it takes to sell a condo points to 26 days. And, that’s opportune news if you are planning to sell your property. As a result, now could be the best time to get started.
For more details on condos, view the October Real Estate Report. Although, do you plan to sell your San Mateo County condo or townhome? Then, why not give me a call? And, ask for a free comparative market analysis.