Real Estate Report presented by Mary Pope-Handy

July 2019 Report

Condos in San Mateo County, Menlo Park, All Neighborhoods Change >


Median Price
$1,320,000
-17.8%
Average Price
$1,663,000
-10.7%
No. Sold
9
-18.2%
Pending Properties
4
-60.0%
Active
19
+11.8%
Sale/List Price Ratio
98.7%
-3.1%
Days on Market
31
+57.6%
Days of Inventory
61
+32.0%

Market Barometer

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Market Commentary

Home Sales Prices Slip

Prices for single-family, re-sale homes were down in June from May. The median sales price fell 8.2% and the average sales price fell 0.8%. Year-over-year, the median sales price was down 1.8%, but the average sales price gained 6.2%.  

The sales price to list price ratio dropped from 105.9% to 104.6%.

Home sales fell 7.3% from May, and, were down, year-over-year, for the eighth month in a row: -7.5%. There were 368 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 thirteen months in a row. Last month, it was up 24.3% 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, gained two to forty-three days.

As of July 5th, there were 547 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.

The median sales price for re-sale condos reached a new, all-time high in June of $1,030,000. That was a gain of 2.5% year-over-year. The median sales price rose 0.7% from May. The average sales price fell 1.8% from May. Year-over-year, the average sales price gained 0.4%.

Condo sales dropped 21.8% year-over-year. 

Inventory continues to expand. It has been higher than the year before eleven months in a row. It gained 63.1% over last June.

As of July 5th, there were 137 condos for sale in San Mateo County. The average since January 2003 is 350.

Days of inventory fell to forty-three.

It is taking thirty-eight days to sell a condo.

If you are planning on selling your property, call me for a free comparative market analysis.

Prices & Sales

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Days of Inventory

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Sales to Date

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Sales Price Ratio

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