Much like December 2018, January this year showed a general softening in home sales. Also, that adds to a steady trend. For example, the softening can be seen in median sales. In fact, the median sales price of single family, resale homes fell year-over-year. It fell for the second month in a row. As a result, with a year-over-year perspective, the median sales price was down 1.7%. In contrast though, San Mateo County February 2019 home sales data shows the average sales price was up 1.5 %, year-over-year.
Sales price to list price ratio also showed more softening, in January. That also shows for the second month in a row. In fact, this ratio reflects what buyers are paying over what sellers are asking. And, it was down 0.1% to 102.4%. Even home sales were down, again. That is, down by 4.8% compared to last January.
San Mateo County February 2019 Home Sales and Inventory
Just as we saw for last December, home inventory kept up its expansion in January. Also, it’s quite interesting to note inventory has been higher than the year before. In fact, It’s been at that level for 8 months in a row. Just for January, it was up as much as 81.5%, over last year. And, a look at February 5th showed some of the latest numbers. It showed inventory at 372, San Mateo County homes for sale.
San Mateo County February 2019 home sales figures also show how much time it takes to sell a home. That means from time listed to time a home goes into contract. Again, this figure looks similar to December’s, 30 days to sell. As a result, time it takes to sell settles around thirty-seven days, as of January.
It often takes more than the average know how to ‘read’ the San Mateo County real estate market. As a result, for help with that, simply consult a market expert. For more insight on current market trends, contact an expert. In fact, find out how these trends can be used to benefit your home selling prospects. Contact a real estate expert. Contact Carmen Miranda. And while you’re at it, ask for a free comparative market analysis (CMA).