Condo market activity had a number of interesting takeaways for September. And, they included a significant jump in sales. In fact, condo sales jumped 66.2% year-over-year (YoY). Add to that an increase over August sales by 18.5%. Although, sales price took a slight dip in Sept. As a result, median sales price for resale condos fell 1.4% YoY. Also, it was down from August by 1.5%. At the same time, you find in the San Mateo County Sept condo update that average sales price gained slightly YoY, by 0.2%. On the other hand, it fell from August’s number by 4.4%.
San Mateo County Sept Condo Update, 2020 Overview
September condo inventory showed increases in both YoY and monthly tracking. And, resale condo inventory jumped 46.3% YoY. At the same time, it jumped 13.6%, compared to August inventory. Although, how many exactly were for sale? As of October 5th, there were 275, San Mateo County condos for sale. Interestingly, the average since as early as January 2003 is 350. And, days of inventory wound down from 67 to 62.
In September 2020, it took only about 22 days to sell a condo. Obviously, that’s less than a month, and prime timing for condo sellers. In fact, that points to a trend in similar timing for 4th quarter. And, it points to a number of benefits in the condo seller’s favor, for San Mateo County real estate, interests and matters. As a result, those planning to sell their condo property have plenty of incentive to do so now. Add to that an expert sellers agent. And, you have all you need for a successful selling experience. Although, who should you choose to assist you? After all, it should be someone with not just expert knowledge of condo sales. It should be someone who is a market expert and knows how to make that work for your benefit.
You can tap on Carmen Miranda for the complete package in real estate and market know how. Also, she will provide you with a free, no-obligation home value analysis of your condo. In fact, why not do it right, from the start? Why not give Carmen a call today?