March 2020 Report
Single Family Homes in San Mateo County, All Cities, All Neighborhoods Change >
Average Price$2,148,380
+14.6%
Pending Properties258
+35.1%
Sale/List Price Ratio105.0%
+3.1%
Trends at a Glance
| Trends At a Glance |
Feb 2020 |
Previous Month |
Year-over-Year |
| Median Price |
$1,538,500 (+9.5%) |
$1,405,440 |
$1,420,000 (+8.3%) |
| Average Price |
$2,148,380 (+14.6%) |
$1,874,930 |
$1,805,980 (+19.0%) |
| No. of Sales |
206 (+27.2%) |
162 |
212 (-2.8%) |
| Pending |
258 (+35.1%) |
191 |
227 (+13.7%) |
| Active |
330 (+32.5%) |
249 |
426 (-22.5%) |
| Sale vs. List Price |
105.0% (+3.1%) |
101.8% |
103.4% (+1.6%) |
| Days on Market |
30 (-28.8%) |
42 |
31 (-4.5%) |
| Days of Inventory |
45 (-2.7%) |
46 |
54 (-17.3%) |
Market Commentary
The sales price to list price ratio popped from 101.8% to 105%. That’s the highest it has been since May 2019.
Inventory of single-family, re-sale homes was down 22.5% compared to last year. That is the seventh month in a row inventory has been lower than the year before. As of March 5th, there were 330 homes for sale in San Mateo County. The average since January 2000 is 1,287.
The median sales price for single-family, re-sale homes was up, year-over-year, by 8.3%. The average price was up 19%.
The median sales price was up 9.5% compared to January. The average sales price was up 14.6%.
Home sales rose 27.2% from January. Home sales were down 2.8% year-over-year. There were 206 homes sold in San Mateo County last month. The average since 2003 is 398.
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 twenty-one day to forty-five days.
It took thirty days to sell a home last month. That is down from forty-two in January. That is the time from when a home is listed to when it goes into contract.
The median sales price for re-sale condos rose 17.4% year-over-year. It was up 12.5% from January. The average sales price rose 7.1% from January. Year-over-year, the average sales price gained 8.6%.
Condo sales fell 12% year-over-year. Condo sales were up 2.8% from January.
Inventory fell 24.4% year-over-year. It was up 29.7% compared to January.
As of March 5th, there were 96 condos for sale in San Mateo County. The average since January 2003 is 350.
Days of inventory jumped to thirty-seven from thirty-one.
It is taking thirty-seven days to sell a condo.
If you are planning on selling your property, call me for a free comparative market analysis.