Wondering how August fared in real estate activity? You can find a comprehensive rundown, for the San Mateo County August 2019 homes market. And, you can find it right here, on the Local Market Trends Real Estate Report. Although, for a concise summary of the pricing data for single family homes, you can have a look at the following. By the way, the data and this summary comes to you courtesy of Carmen Miranda, a real estate market and homes expert, serving the whole County.
San Mateo County August 2019 Homes Market Single Family Pricing Summary
It’s interesting that back in 1st quarter 2019, the indicators pointed to home prices moving upward, as the year progressed. Also, that upward move was forecast due to the many tech IPOs rolling out. The roll out was expected to create a lot of new millionaires. Although here, in the 3rd quarter, data shows no boost in home prices. Instead, home prices have declined. In fact, they have declined steadily. At the same time, the reason for this decline seems to be the result of other factors.
Research and review into the San Mateo County August 2019 homes market seems to indicate that the Chinese have something to do with the home prices dip. The data shows sales of real estate to them is down 56%, year-over-year. Now, that’s a significant factor, in the local market trend. In fact, an article in USA Today goes into the trend, with more detail.
Breakdown for August Pricing Data
Not only were prices for single family homes down in August. They were down for the 3rd month, in a row, month-over-month. When it comes to median sales price, it also was part of the downtrend. In fact, it fell 1.8%. And, the average sales price fell 4.7%.
Another significant factor in pricing, the sales price to list price ratio dropped, from 104.7% to 104.2%. And, home sales fell 11.8%, from July. Although, home sales were up, year-over-year, by 14.3%. As a result, that broke a nine month losing streak. When it comes to how many San Mateo County homes for sale sold in August, there were 335. The average since 2003 is 398.