September 2020 Report
Single Family Homes in San Mateo County, All Cities, All Neighborhoods Change >
Average Price$2,208,520
-2.0%
Pending Properties493
+17.7%
Sale/List Price Ratio102.4%
0.0%
Days of Inventory39
-13.5%
Trends at a Glance
| Trends At a Glance |
Sep 2020 |
Previous Month |
Year-over-Year |
| Median Price |
$1,750,000 (-2.8%) |
$1,800,000 |
$1,490,000 (+17.4%) |
| Average Price |
$2,208,520 (-2.0%) |
$2,254,340 |
$1,756,380 (+25.7%) |
| No. of Sales |
421 (+9.6%) |
384 |
302 (+39.4%) |
| Pending |
493 (+17.7%) |
419 |
308 (+60.1%) |
| Active |
566 (-1.9%) |
577 |
636 (-11.0%) |
| Sale vs. List Price |
102.4% (0.0%) |
102.3% |
103.5% (-1.1%) |
| Days on Market |
25 (-0.8%) |
25 |
29 (-11.8%) |
| Days of Inventory |
39 (-13.5%) |
45 |
61 (-36.2%) |
Market Commentary
Sales of single-family, re-sale homes in San Mateo County jumped 38.1% year-over-year in September. There were 417 homes sold in San Mateo County last month. The average since 2000 is 398.
Year-to-date, home sales are down 9.6%.
Although backing off the nigh set in August, the median sales price for single-family, re-sale homes was up, year-over-year, by 17.4%.
The average price also backed off the high set in August. It was up 25.3% year-over-year.
After being higher than the year before two months in a row, inventory of single-family, re-sale homes was off 11.3% compared to last year. As of October 5th, there were 560 homes for sale in San Mateo County. The average since January 2000 is 1,287.
The sales price to list price ratio was flat at 102.4%.
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 seven days to thirty-nine days.
It took twenty-five days, on average, to sell a home last month. 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 1.4% year-over-year. It was down 1.5% from August. The average sales price fell 4.4% from August. Year-over-year, the average sales price gained 0.2%.
Condo sales jumped 66.2% year-over-year. Condo sales were up 18.5% from August.
Inventory rose 46.3% year-over-year. It was up 13.6% compared to August.
As of October 5th, there were 275 condos for sale in San Mateo County. The average since January 2003 is 350.
Days of inventory fell to sixty-two from sixty-seven.
It took an average of twenty-two days to sell a condo last month.
If you are planning on selling your property, call me for a free comparative market analysis.