September 2018 San Mateo County Real Estate Market Trends

It should be important to keep a close eye on the market trends for San Mateo County. Since it is such an active market, with popular real estate features, keeping an eye on its dynamics makes for a must-do. At least that’s true for engaged real estate pros. Also, plenty of facts and figures hold key significance for both home buyers and sellers. As a result, September 2018 San Mateo County real estate market trends should be of some interest to professionals and novices alike. And, as we approach 4th quarter 2018, September data becomes all the more key in gauging and forecasting. To that end, and for those interested, find the market trends for September laid out in detail now.

September 2018 San Mateo County Real Estate Market Trends, Courtesy of Carmen Miranda

Trends At-a-Glance for San Mateo County

Trends At a Glance Sep 2018 Previous Month Year-over-Year
Median Price $1,608,000 (+7.2%) $1,500,000 $1,436,250 (+12.0%)
Average Price $1,964,800 (+8.3%) $1,814,630 $1,754,060 (+12.0%)
No. of Sales 302 (+3.1%) 293 352 (-14.2%)
Pending 384 (+28.9%) 298 366 (+4.9%)
Active 596 (+24.2%) 480 421 (+41.6%)
Sale vs. List Price 107.0% (-2.0%) 109.2% 108.9% (-1.8%)
Days on Market 23 (+9.4%) 21 25 (-8.9%)
Days of Inventory 57 (+16.5%) 49 35 (+65.0%)

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Market Barometer

September 2018 San Mateo County Real Estate Market Trends

Prices and Sales

Days of Inventory

Sales Year-to-Date

Sale Price/List Price Ratio

Market Overview and Takeaways

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September’s trends reveal a bounce in home prices. Also, the trends reveal a bounce in home sales. For example, median pricing for single family, resale homes rose 7.2% from August. When it comes to average home pricing, September shows a trend in gain of 8.3%. Although, sales price to list price ratio, dropped to 107%. In fact, that’s the lowest since March 2017.

Besides pricing up-trends, the data shows that home sales also rose in September. After being on the down-trend, month-over-month for three months, sales rose by 3.1%. Although, when compared to last September, home sales were down 14.2%.

September 2018 San Mateo County real estate market trends also show interesting data for days on the market. The Days of Inventory graph leads us to a couple of conclusions. First, in September, home inventory rose 8 days to 57 days. Second, it’s interesting to note that since as early as January 2000, San Mateo County homes for sale had averaged 81 days of inventory. Also of special interest is the latest data on current inventory. As of October 5th, there were 596 homes for sale in the County. And it’s taking about 23 days to sell one.

When buying or selling San Mateo County real estate, it’s important to be in-the-know.  In fact, why not contact an  in-the-know, award-winning expert? Why not contact Carmen Miranda?