As we advance into May, we can look back and pull the data together for how April played out in the real estate market. And, the San Mateo County April home market, as in prior months has a lot to show us. In fact, one of the key figures in monthly market reports was a significant piece of news for April. You see, single-family, re-sale home prices are down year-over-year. Although for April, they show signs of picking up. At the same time, the median home sales price was flat, as compared to March. Also, the average home sales price took a dip. It was down 2.1%, from March.
San Mateo County April Home Market Analysis 2019
One of the most interesting figures in market activity data has to be the sales price to list price ratio. And, it was registered at a peak last spring of 113.3%. Although, by January 2019 that dropped to 102.4%. Then in April, it rose to 105.3%.
San Mateo County April home market analysis also showed home sales down. That’s the same news , year-over-year, for the 6th month, in a row. Although, exactly how many homes were sold last month? April data shows a 315 total. For comparison sake, the average in home sales for San Mateo County, since 2003 is 398.
What to Know About Home Inventory
The home inventory story continues on an expanding note. That is, inventory has been higher than the previous year. In fact, it’s been that for 11 months, in a row. And for April, it was up by 21.5%, over last year. Now when it comes to days of inventory for San Mateo County homes for sale, it was down some. The April average was 45 days. That’s good to know. Although, what about how many homes were actually for sale in the County? Well, as of May 5th, there were 486. Also, home take an average of about 24 days to sell. You know, that’s the time from listing to contract/closing.
If you want, have a look at the full report on April data. Although, if you want a detailed analysis of your local market in San Mateo County, contact an expert. In fact, contact Carmen Miranda. And, if you plan to sell your home, be sure to ask for a free comparative market analysis.