In the last post, the focus was on single family resale homes, for March. Although, today’s post focuses on the San Mateo County condo market March 2020. After all, condos and townhomes make up a big junk of the County’s real estate market. And, they figure in closely with the way overall ‘trend winds’ blow. That said, the trend winds definitely blew through March. As a result, analysis has a lot to tell us about what exactly played out and where trends might blow, in April.
San Mateo County Condo Market March 2020 Update
When we look at condo market activity, it’s not unusual to see some likeness in the data for the single family home market. And, that tends to play out month-to-month. Although, these markets do behave differently in key areas. As a result, that variation also shows up in the data. In fact, what about that? (See full Real Estate Report.)
Starting with pricing factors, median sales price leads the pack, with a rise over February pricing. And, it rose by 13.7% in March. Although, from a year-over-year (YoY) standpoint, it rose by 5.8%. Then, average sales price, again, teetered up and down. In fact, it was up YoY by 9.8%. At the same time, it was down slightly from February, by 1%. That said, what about actual condo sales?
A San Mateo County condo market March 2020 update wouldn’t be complete without sales and inventory data. And, condo sales jumped by 29.6% over February. YoY, sales rose by 13%. Although, when it comes to condo inventory, it fell slightly from February, by .03%. And YoY, it slumped by 36.1%. That said, there were actually 76, San Mateo County condos for sale, as of April 5th. Also, days of inventory trended downward to settle at 20. Last month it settled at 37.
It took only about 17 days to sell a condo in March. And, if you plan to sell your condo or townhome, now’s a great time. That is, with a market expert and real estate pro in tow. In fact, with trends as up and down as they are currently, settle for no less than a 5 Star Real Estate Pro. As a result, why not give Carmen Miranda a call today? Also, ask for a free home value analysis.