Real Estate Report presented by Andrew de Vries - MBA

August 2019 Report

Single Family Homes in San Mateo County, All Cities, All Neighborhoods Change >


Median Price
$1,560,000
-3.9%
Average Price
$1,926,920
-8.9%
No. Sold
345
-6.3%
Pending Properties
310
-10.9%
Active
472
-13.7%
Sale/List Price Ratio
104.9%
+0.3%
Days on Market
22
-7.6%
Days of Inventory
41
-4.8%

Market Barometer

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Market Commentary

Home Sales Prices and Sales Continue to Fall

Prices for single-family, re-sale homes were down for the second month in a row, month-over-month. The median sales price fell 3.9% and the average sales price fell 8.9%. Year-over-year, the median sales price was down 2.8%, but the average sales price gained 2.0%.  

The sales price to list price ratio rose from 104.6% to 104.9%.

Home sales fell 6.3% from June, and, were down, year-over-year, for the ninth month in a row: -10.6%. There were 345 homes sold in San Mateo County last month. The average since 2003 is 398.

Inventory continues to expand. It has been higher than the year before fourteen months in a row. Last month, it was up 11.8% over last year.

Days of Inventory, or the amount of time it would take to sell all homes for sale divided by how many homes have sold, dropped two to forty-one days.

As of August 5th, there were 472 homes for sale in San Mateo County. The average since January 2003 is 1,287.

It is taking twenty-two days to sell a home. That is the time from when a home is listed to when it goes into contract.

The median sales price for re-sale condos fell from the new high reached in June. It was down 7.8% year-over-year. The median sales price rose 10.5% from June. The average sales price fell 8.8% from June. Year-over-year, the average sales price fell 7.4%.

Condo sales rose 2.8% year-over-year. 

Inventory continues to expand. It has been higher than the year before twelve months in a row. It gained 30.9% over last July.

As of August 5th, there were 123 condos for sale in San Mateo County. The average since January 2003 is 350.

Days of inventory fell to thirty-four.

It is taking only twenty-five days to sell a condo.

If you are planning on selling your property, call me for a free comparative market analysis.

Prices & Sales

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Days of Inventory

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Sales to Date

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Sales Price Ratio

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