Real Estate Report presented by Mary Pope-Handy

November 2018 Report

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


Median Price
$1,475,000
-17.1%
Average Price
$1,623,210
-12.6%
No. Sold
7
-12.5%
Pending Properties
6
-25.0%
Active
11
0.0%
Sale/List Price Ratio
99.9%
-4.5%
Days on Market
26
+51.5%
Days of Inventory
47
+18.2%

Market Barometer

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Market Commentary

Home Prices & Sales Continue Rising in October

The median price for single-family, re-sale homes rose 1% from September. That’s the second month in a row the median price has been higher than the month before.

The average price for homes also rose 1%. Again, that’s the second month in a row the average price has been higher than the month.

Home sales surged last month, rising 30.5% over September.

Year-over-year, the median price gained 7.5% and the average price was up 13.2%. That’s 30 months in a row the median price has been higher than the year before.

Home sales rose 10.4% compared to last October.

The sales price to list price ratio, or what buyers are paying over what sellers are asking, dropped to 106.6%. That’s the lowest it has been since February 2017.

Days of Inventory dropped fourteen days to forty-three days in October. Since January 2000, San Mateo County has averaged eighty-one days of inventory.

The number of homes for sale was up 58.8% year-over-year. That’s the fifth month in a row inventory has been higher.

As of November 5th, there were 559 homes for sale in San Mateo County.

It is taking nineteen days to sell a home.

Condo prices were also up last month with the median price jumping 6.9% and the average price rising 15.6% over last year.

Sales were down 24.6%. This is the sixth consecutive month condo sales have been lower than the year before.

Inventory was up for the second month in a row, jumping 96.9%. There are now 128 condos on the market.

Condos are staying on the market only 20 Days. That means from the time the condo is listed to when it goes into contract.

For specific information, do not hesitate to contact me.

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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