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%)|
Prices and Sales
Days of Inventory
Sale Price/List Price Ratio
Market Overview and Takeaways
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.