May 2019 Report
Single Family Homes in San Mateo County, All Cities, All Neighborhoods Change >
Average Price$1,958,510
-2.1%
Pending Properties307
-12.0%
Sale/List Price Ratio105.3%
+1.9%
Trends at a Glance
| Trends At a Glance |
Apr 2019 |
Previous Month |
Year-over-Year |
| Median Price |
$1,620,000 (0.0%) |
$1,620,000 |
$1,770,000 (-8.5%) |
| Average Price |
$1,958,510 (-2.1%) |
$2,000,120 |
$2,049,600 (-4.4%) |
| No. of Sales |
315 (+12.1%) |
281 |
333 (-5.4%) |
| Pending |
307 (-12.0%) |
349 |
361 (-15.0%) |
| Active |
486 (+22.1%) |
398 |
400 (+21.5%) |
| Sale vs. List Price |
105.3% (+1.9%) |
103.4% |
112.0% (-5.9%) |
| Days on Market |
24 (-16.6%) |
28 |
16 (+44.8%) |
| Days of Inventory |
45 (+5.3%) |
42 |
35 (+28.4%) |
Market Commentary
Although prices for single-family, re-sale homes are down year-over-year, they are showing signs of picking up. The median sales price was flat in April compared to March. The average sales price dipped 2.1% from March.
The sales price to list price ratio, which had a peak last spring of 113.3%, had dropped to a low of 102.4% in January. Last month it was up to 105.3%.
Home sales were down, year-over-year, for the sixth month in a row. There were 315 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 eleven months in a row. Last month, it was up 21.5% 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, was down to 45 days.
As of May 5th, there were 486 homes for sale in San Mateo County. The average since January 2003 is 1,287.
It is taking twenty-four days to sell a home. That is the time from when a home is listed to when it goes into contract.
Prices for re-sale condos were up last month from the month before but they were down year-over-year.
Condo sales dropped 26.2% year-over-year.
Inventory continues to expand. It has been higher than the year before nine months in a row.
As of May 5th, there were 127 condos for sale in San Mateo County. The average since January 2003 is 350.
Days of inventory rose to forty.
It is taking only twenty-one days to sell a condo.
If you are planning on selling your property, call me for a free comparative market analysis.