What does the analysis of real estate activity for October 2020 tell us about single family, resale homes? After all, they make up a lion’s share of the market. And when it comes to San Mateo County real estate, a lot of notable activity happened. Not to mention the domestic market, overall. In fact, an October San Mateo County homes update will show plenty of interesting data points that include many up trends.
Just how well did single family, resale homes perform in San Mateo County? Well, let’s look at how the trends wrapped up for the month, starting with home sales. And, that was up by a whopping +15.4%, over the previous month. It even jumped well past the year-over-year (YoY) factor by +27.9%. Although, what was the actual total of homes sold for October? And, what was the YoY, for comparison? In fact, 486, San Mateo County homes for sale sold, for the month. At the same time, the YoY trend was 380. Also, the previous month even outpaced YoY data. It’s total home sales settled at 421. As a result, home sales were actually up, in more previous months. They were up for a total of 4 months in a row, YoY, by the close of October.
October San Mateo County Homes Update and Overview 2020
What about the actual, sum total of homes for sale in October? A look at the total as of November 5th provides the answer. In fact, there was a total of 543 for sale. Interestingly, the average since January 2000 is 1,287.
The October San Mateo County homes update for 2020 shows pricing of single family, resale homes also kept pace with trend setting. And, median sales price was up YoY, by 7.6%. At the same time, average pricing was up, by 6.3% YoY. Then, the sales price to list price ratio took a step up from the previous month. In October, it rose from 102.4% to 103.4%.
View the Real Estate Report for detailed October Trends
It took about 21 days to sell a home last month. And, that’s the time from when the home is listed to when it goes into contract. As a result, it took less than a month, leading to the same expectation in the remainder of 4th quarter. In fact, now is likely the best time to start the process. If you’re planning to sell, call me for a free comparative market analysis.