June 2020 Report
Single Family Homes in San Mateo County, All Cities, All Neighborhoods Change >
Average Price$2,147,450
-5.0%
Pending Properties427
+33.0%
Sale/List Price Ratio101.0%
+0.3%
Days of Inventory43
-31.2%
Trends at a Glance
| Trends At a Glance |
Jun 2020 |
Previous Month |
Year-over-Year |
| Median Price |
$1,727,500 (+6.4%) |
$1,623,500 |
$1,601,000 (+7.9%) |
| Average Price |
$2,147,450 (-5.0%) |
$2,259,650 |
$2,082,730 (+3.1%) |
| No. of Sales |
334 (+47.8%) |
226 |
375 (-10.9%) |
| Pending |
427 (+33.0%) |
321 |
312 (+36.9%) |
| Active |
493 (+5.1%) |
469 |
586 (-15.9%) |
| Sale vs. List Price |
101.0% (+0.3%) |
100.7% |
104.6% (-3.5%) |
| Days on Market |
29 (+28.2%) |
22 |
23 (+21.8%) |
| Days of Inventory |
43 (-31.2%) |
62 |
45 (-5.5%) |
Market Commentary
Sales of single-family, re-sale homes in San Mateo County soared 47.8% in June compared to May. Home sales were down 10.9% year-over-year. There were 334 homes sold in San Mateo County last month. The average since 2000 is 398.
Year-to-date, home sales are down 25.4%.
Inventory of single-family, re-sale homes was down 15.9% compared to last year. That is the tenth month in a row inventory has been lower than the year before. As of July 5th, there were 493 homes for sale in San Mateo County. The average since January 2000 is 1,287.
The sales price to list price ratio rose from 100.7% to 101%.
The median sales price for single-family, re-sale homes was up, year-over-year, by 7.9%. The average price was up 3.1%.
The median sales price was up 6.4% compared to May. The average sales price was down 5%.
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 nineteen days to forty-three days.
It took twenty-nine 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 6.4% year-over-year. It was up 6.9% from May. The average sales price rose 3.2% from May. Year-over-year, the average sales price dropped 4.3%.
Condo sales fell 22% year-over-year. Condo sales were up 44.4% from May.
Inventory rose 12.9% year-over-year. It was up 18.6% compared to May.
As of July 5th, there were 166 condos for sale in San Mateo County. The average since January 2003 is 350.
Days of inventory jumped to sixty-two from eighty.
It took an average of twenty-four days to sell a condo last month.
If you are planning on selling your property, call me for a free comparative market analysis.