January 2020 Report
Single Family Homes in San Mateo County, Portola Valley, All Neighborhoods Change >
Average Price$2,340,000
-19.3%
Pending Properties0
-100.0%
Sale/List Price Ratio93.3%
-1.7%
Days of Inventory120
+55.2%
Trends at a Glance
| Trends At a Glance |
Dec 2019 |
Previous Month |
Year-over-Year |
| Median Price |
$2,375,000 (-16.7%) |
$2,850,000 |
$3,452,500 (-31.2%) |
| Average Price |
$2,340,000 (-19.3%) |
$2,899,170 |
$3,707,500 (-36.9%) |
| No. of Sales |
3 (-50.0%) |
6 |
4 (-25.0%) |
| Pending |
0 (-100.0%) |
2 |
1 (-100.0%) |
| Active |
12 (-25.0%) |
16 |
13 (-7.7%) |
| Sale vs. List Price |
93.3% (-1.7%) |
95.0% |
95.0% (-1.8%) |
| Days on Market |
44 (-37.8%) |
70 |
70 (-37.8%) |
| Days of Inventory |
120 (+55.2%) |
77 |
98 (+23.1%) |
Market Commentary
The median price for single-family, re-sale homes was down, year-over-year, by 1.9%. The average price, on the other hand, was up 2.7%.
Both the median and average sales prices were down compared to November: 8.4% and 8.6% respectively. This is a common occurrence at the end of the year.
The sales price to list price ratio dropped from 103.0% to 102.1%.
Home sales dropped 13.7% from November, but, they were up 17.8%, year-over-year. There were 271 homes sold in San Mateo County last month. The average since 2003 is 398. For the year, home sales were down 1.7%.
Inventory was down for the fifth month in a row, dropping 21.6% compared to 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, fell ten days to twenty-four days.
As of January 5th, there were 221 homes for sale in San Mateo County. The average since January 2003 is 1,287.
It took thirty-nine days to sell a home last month. That is up from twenty-five in November. 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 5.1% year-over-year. It was up 4.5% from November. The average sales price rose 1.6% from November. Year-over-year, the average sales price fell 9.7%.
Condo sales rose 65.2% year-over-year. For the year, condo sales were up 2.8%.
After being higher than the year before sixteen months in a row, inventory fell 9.1% year-over-year. It was down 49.3% compared to November.
As of January 5th, there were only 70 condos for sale in San Mateo County. The average since January 2003 is 350.
Days of inventory dropped to thirty-eight from forty-two.
It is taking thirty-four days to sell a condo.
If you are planning on selling your property, call me for a free comparative market analysis.