A similar trend in home sales played out in San Mateo County April 2020 condo sales. That is, a plunge in sales and inventory stood out. In fact, resale condo sales were down 36.3% from March. And, condo inventory fell 22.8% year-over-year (YoY). Although in an interesting caveat, it was up 38.2% compared to March. Also, these sequences of activity in the condo market are largely attributed to the height of the pandemic.
San Mateo County April 2020 Condo Sales Trends
San Mateo County April 2020 condo sales not only experienced a plunge from March numbers. They also fell YoY. And, they fell to the tune of 37.9%. As a result, these sales numbers are the most acute variables in the data showing affects of the lock down/slow down.
When it comes to pricing, serious analysts always look at median sales price. Since it’s one of the most relevant markers in the overall data, that makes sense. Although, average sales price is never overlooked and plays its respective role in analysis. That said, the median sales price for resale condos rose 10.1% YoY. And, it was up 2.8% from March. At the same time, average sales price rose 8.4% YoY. Then, it rose 4.5% from March.
A close look at the inventory for condos in April, gives us specifics on how many San Mateo County condos for sale were on the market. And, as of May 5th, there were 105. Although, that’s not the whole story. In fact, the average for sale, since January 2003 is 350.
For another twist in inventory trends, days of inventory rose. And, it rose from 20 to 42 days. At the same time, it took an average of 16 days to sell a condo in April. With these facts in mind, do you plan on selling your property? Stay ahead of the uncertain market curve, contact a local market expert. In fact, contact one who is also a seasoned real estate pro. Contact Carmen Miranda. Meanwhile, why not ask for a free home value analysis?