You If you are in a need to know position, think it would be helpful, or are just curious, you’ll find monthly real estate market updates right here in the CarmenMiranda.com blog. Carmen wants to keep you in the know about your housing market. In this case, San Mateo County Jan 2018 market trends at a glance. In fact, you should find plenty of info that’s insightful and useful, whether you are a real estate pro, home buyer or seller.
San Mateo County Jan 2018 Market Trends at a Glance
|Trends At a Glance||Jan 2018||Previous Month||Year-over-Year|
|Median Price||$1,450,000 (-3.3%)||$1,500,000||$1,150,000 (+26.1%)|
|Average Price||$1,760,780 (-5.4%)||$1,861,700||$1,452,440 (+21.2%)|
|No. of Sales||165 (-46.4%)||308||188 (-12.2%)|
|Pending||212 (+14.6%)||185||194 (+9.3%)|
|Active||205 (+24.2%)||165||308 (-33.4%)|
|Sale vs. List Price||110.2% (+0.6%)||109.6%||103.0% (+7.0%)|
|Days on Market||28 (-1.1%)||28||38 (-26.9%)|
|Days of Inventory||37 (+131.9%)||16||49 (-24.2%)|
Prices and Sales
Days of Inventory
Sale Price/List Price Ratio
Some things to keep in mind about the San Mateo County Jan 2018 market trends at a glance include a trend in rising home prices. Also, the trend dominated Jan 2018 for both single-family, resale homes and condos. In fact, this bears more validity in double digits for January, year-over-year. As a result, the same is true for median home prices.
1. This is the 22nd month in a row where the median price was higher than the year before.
2. Also, the average price for homes rose 21.2%. The average price for condos was up 17.2% over Jan 2017.
Another market trend that held on in Jan 2018 was multiple offers on San Mateo County homes for sale. In fact, that has become a norm. As a direct result of it, the typical sales price surpassed the list price to the tune of 110.2% for homes.
1. San Mateo County real estate continues to have quite a low inventory of available homes and condos.
-Early in Jan 2018, there were just 205 homes and 47 condos for sale in all San Mateo County.
2. Homes do not stay on the market more than about 28 days. For condos, the average selling time is only 17 days.
Getting Your Home Ready to Sell
In fact, for great tips on getting your home ready to sell, have a look at this section on the full Jan 2018 Market Trends Report.