Now that March is already upon us, it’s an opportune time to review February’s condo market activity. And, plenty of folks are interested to know how it did, including real estate pros, who keep a sharp eye on their local area trends. In fact, that’s definitely true for Carmen Miranda, who provides market analysis, every month. She provides that for her clients and anyone interested in San Mateo County real estate. As a result, you can find her full Real Estate Report, and view some of the key takeaways for San Mateo County February 2021 Condo Market activity below. Those takeaways includes both ups and downs, as you will see.
San Mateo County February 2021 Condo Market Activity Update
The most significant of market activities that people automatically want to know about is sales and pricing. Were they up? Were they down? How many resale condos sold? How many were for sale? As a result, the figures are as follows.
When it comes to resale condo sales, they were up year-over-year (YoY). And, they were up by 38.4%. In fact, 101, San Mateo County condos were sold last month. At the same time, as of March 5th, there were 137, San Mateo County condos for sale.
San Mateo County February 2021 condo activity shows a drop in median sales price. And, that fell for resale condos by 11.1% YoY. At the same time, average sales price fell. And, it fell by 3.4%.
Resale condo inventory was up YoY. And, it rose to 42.7%. Although, when it comes to days of inventory, that fell from 51 days to 37 days.
When it comes to selling a condo, it took about 35 days in February. And, that points to more timely opportunity to sell a condo promptly. As a result, if you are planning to sell your property, why not ask Carmen for her free, comparative home value analysis? Why not give her a call today?