San Mateo County April 2020 home sales data settled on some key takeaways. And, while indicating a downtrend in the market, they were not unexpected. In fact, some pandemic panic took its toll on sales and inventory, for resale, single-family homes. Seeing the downturn in both areas also indicates generally subpar participation by both buyers and sellers, for April.
Below is a clip from an April overview, courtesy of Carmen Miranda. Although, the clip. itself is rich with data. For example, it even addresses pending home sales. And, it shows that up at 254 vs. 242 in March.
San Mateo County April 2020 Home Sales and Supporting Data
The amount of home sales in April shows a cautionary number. And, April sales settled at 189. Although in March sales topped off at 267. At the same time, April sales was even lower compared to the YoY total of 488, as the chart shows. In fact, San Mateo County April 2020 home sales was lower than YoY by as much as -49.7%.
|Trends At-a-Glance for San Mateo County|
|Trends At a Glance||Apr 2020||Previous Month||Year-over-Year|
|Median Price||$1,630,000 (-6.9%)||$1,750,000||$1,600,000 (+1.9%)|
|Average Price||$2,022,130 (-4.9%)||$2,126,710||$1,986,030 (+1.8%)|
|No. of Sales||189 (-29.2%)||267||376 (-49.7%)|
|Pending||254 (+5.0%)||242||323 (-21.4%)|
|Active||398 (+21.0%)||329||488 (-18.4%)|
|Sale vs. List Price||104.1 (-1.9%)||106.2||105.4 (-1.2%)|
|Days on Market||22 (-1.1%)||22||24 (-8.8%)|
|Days of Inventory||61 (+65.2%)||37||38 (+62.3%)|
Notice the amount of San Mateo County homes for sale, under the ‘Active’ subheading. Although, it’s more than the previous month, relational to year-over-year (YoY), it’s less, by -18.4%.
In pricing data on existing homes for sale, all figures noted are key. Although, median price carries a bit more weight, generally, in analysis than average price. At the same time, the chart shows dips in both for April, compared to March. Also, looking at both median and average pricing, they were higher than YoY. Finally, the sales price to list price ratio dropped from 106.2% in March to 104.1%.
Would you like more details on San Mateo County real estate, as it relates to home sales? And, are you thinking of selling? Contact a local area market expert and real estate pro. In fact, why not ask for a free home value analysis now?