If we are going to take a look at the state of San Mateo County homes sales for July, then we must also look at condos. And, that’s quite true for the County. Since condos make up a huge part of the market, how they perform matters. In fact, plenty of data rolls into real estate reports for them. As a result, a San Mateo County July 2019 condo update should be available. And, Carmen Miranda makes sure it is, each month.
San Mateo County July 2019 Condo Update and Market Trends
Key takeaways for the July condo market include median sales price for re-sale condos. And, it was down, from a new high in June. Although, looking at a year-over-year baseline, median sales price was down 7.8%. In fact, even the year-over-year factor for average sales price fell. As a result, it took a dip of 7.4%. Also, the average sales price was down, from June, by 8.8%.
A San Mateo County July 2019 condo update wouldn’t be complete without highlighting condo sales and inventory. That said, condo sales rose 2.8%. And, that’s the year-over-year data. When it comes to inventory, much like single family homes, it keeps expanding. As a result, it has been higher than the prior year. And, it’s been higher for 12 months, in a row. And to put things in perspective, it gained 30.9% over last July. Conversely, days of condo inventory fell to 34.
When it comes to San Mateo County condos for sale, there were 123. That number was tallied as of August 5th. Although, the average since the start of 2003, is 350. And as for selling a condo, it is taking just 25 days. As a result, if you plan on selling your condo, contact a market expert. Contact Carmen Miranda. Then, why not ask for her free comparative market analysis?