Featuring the market data for January, this February’s condo update highlights all things related to condo sales. Also, it reveals some key trends. In fact, both median and average condo sales prices stuck to an upward trend in January. How so? Well, median sales price for resale condos rose to 23.3% last month. And, that’s year-over-year. When it comes to average condo sales price, that was up by 5.2%. As a result, these figures point to more upticks in the San Mateo County condo sales February update. For example, the condo sales price to list price ratio also rose in January. It rose 0.5% of a point to 101.7%. And, for those not familiar with the ratio, it’s from what sellers are asking over what buyers are paying. Meanwhile, another uptick in the condo market dealt with condo sales. In fact, they were up 22.9% in January.
San Mateo County Condo Sales February Update 2019
Much like single family homes, condo inventory expanded, in January. Also not unlike single family homes, inventory was up over the year before. That is, for six months in a row. In fact, January shows an increase by 138.3% over last year. Although, exactly how many condos currently make up inventory? Well as of February 5th, there were 112, San Mateo County condos for sale.
San Mateo County condo sales February update for inventory also shows ‘days of’ data. Days of inventory data is derived from number of days it would take to sell the current inventory divided by homes sales. And, that figure for January more than doubled. It went up to 78. Although, how many days does it take to sell one San Mateo County condo? In fact, it takes about 33 days now.
Do you plan to sell your condo? Look at all the trends. At the same time, consult a condo market expert. In fact, why not consult with real estate expert, Carmen Miranda? She goes right to work on your selling goals. You can expect the best results. And, while you’re at it, why not ask Carmen for a free comparative market analysis? She’s happy to provide one. Give her a call today.