San Mateo County has a booming condo market. And, it has plenty of impact on the local economy. In fact, it plays a key role in the dynamics of month-to-month market trends. As a result, it’s factored into many levels of analysis and forecasting. That said, there’s plenty to report on for a San Mateo County condo market update that covers September 2019. Also, much like the single family homes market, resale condos registered ups and downs in that month. Although, exactly where were those ups and downs centered?
San Mateo County Condo Market Update, September 2019
The median sales price was a central part of the September picture. It registered a rise, from the year-over-year perspective, by 2.3%. Although at the same time, it was down 9.2%, from August.
The average sales price took a dip. From the year-over-year perspective, it dipped by 4.4%. At the same time, it fell 4.1%, from August. Now when it comes to condo sales, another dip took place. And, sales fell 9.8% year-over-year.
What would any serious San Mateo County condo market update be, without review of the inventory? That said, condo inventory keeps expanding. In fact, it’s been higher than the year before. And, it’s been higher 14 months, in a row. At the same time, it gained 35.7%, over last September. Although, what about condos for sale? How many were there?
As of October 5th, there were 175, San Mateo County condos for sale. And, the average for sale, since January 2003 is 350. Plus, days of inventory rose to sixty-nine. Although, what about when it comes to selling a San Mateo County condo? How long does it take? In fact, it only takes about 21 days, currently.
Do you plan to sell your condo? Now is a great time to start the process. Then, contact a local market expert. Contact Carmen Miranda. She is also an expert sellers agent. Why not give her a call? And, while you’re at it, ask for a free comparative market analysis today.