February 2020 ended with some interesting indicators in San Mateo County real estate. And, they included upticks. In fact, upticks in key factors stood out. You find one of these in sales price to list price ratio. It was up from 101.8% in January, to 105%. At the same time, that’s the highest it’s been since May 2019. A San Mateo County February market update also shows other areas of uptick. As a result, the median sales price and average sales price, for single family, resale homes stood out.
Median sales price jumped 9.5%, as compared to January. And, it was up, year-over-year(YoY), by 8.3%. Average price, it was up 14.6%, as compared to January. YoY, it was up by 19%.
San Mateo County February Market Update 2020
In San Mateo County market data, we also find that February home sales rose 27.2%, from January. On the other hand, home sales dipped by 2.8%, YoY. Although, how many total San Mateo County homes actually sold? the data shows 206 sold in February. On a side note, the average since 2003 is 398. And, how many total, San Mateo County homes for sale were on the February market? Well, as of March 5th, there were 330. On a side note, the average since January 2000 is 1,287.
Home inventory is another interesting player in market activity. And, San Mateo County February market data shows another downturn in single-family resale homes. In fact, inventory dipped 22.5%, compared to last year. As a result, we have 7 months, in a row, of inventory lower than the year before now.
Anyone interested in selling their San Mateo County home should take note of a ‘Days of Inventory’ factor. By the way, that’s the amount of time it would take to sell all homes for sale, divided by how many homes have sold. And, that factor fell 21 days to 45 days. That said, home sellers take note. It took about 30 days to sell a home last month. In January, it took about 42 days. Keep in mind, that covers the time from when a home is listed to when it goes into contract.
Ready to start the selling process? Do it right the first time. And, get your home sold with excellent support, in record time, for the best price. In fact, hire a San Mateo County area market and real estate expert. Hire Carmen Miranda. Although, don’t take anyone’s word for it. Read her client testimonials. Then, why not give her a call today?