San Mateo County April Market Trends

With the reporting and data in now, the time is ripe for review of San Mateo County April market trends. And, it’s key to examine a number of specific areas of the real estate market. In fact, it’s essential to do that for staying informed, as some uncertainties color market activity. As a result, April’s real estate data breakdown, from pricing and sales, to inventory and sales to list/price ratio is available below, courtesy of Carmen Miranda.

San Mateo County April Market Trends 2020 Update

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%)
Market Barometer
San Mateo County April market trends 2020
Prices and Sales
San Mateo County April Market Trends
Days of Inventory
Sales Year-to-Date
Sale Price/List Price Ratio

April 2020 Key Market Takeaways

The data shows two significant trends. And, they are intrinsic to the pulse of the real estate market. In fact, resale, single-family home sales fell in April. At the same time, inventory slid for the same, in April.

Compared to April last year single-family, re-sale homes sales slumped by 49.7%. And, April 2020 home sales slumped by 29.2%, compared to March. In fact, a downtrend can also be seen in the amount of homes sold in San Mateo County. While the average since 2000 is 398, 189 homes sold in April. Although, a significant slump in sales was expected due to pandemic panic. As a result, the downtrend is expected to lean into the next two months ahead.

The County’s single-family, resale homes inventory has been on a downtrend for the 8th month, in a row now. And with April 2020 compared to last year, inventory was down by 18.4%. Although, how many San Mateo County homes for sale were on the market? A look at the numbers, as of May 5th shows 398 for sale. Note the average since January 2000: 1,287.

It took twenty-two days to sell a home in April. By the way, that’s the time it takes from when a home is listed to when it goes into contract. And, if you are planning on selling your property, call or email me for a free comparative market analysis.