Real Estate Report presented by Mary Pope-Handy & Clair Handy

December 2022 Report

Single Family Homes in San Mateo County, Menlo Park, All Neighborhoods Change >


Median Price
$2,529,000
-11.7%
Average Price
$3,133,350
0.0%
No. Sold
19
-5.0%
Pending Properties
33
-17.5%
Active
16
-46.7%
Sale/List Price Ratio
100.4%
+3.1%
Days on Market
28
+13.9%
Days of Inventory
25
-41.9%

Market Barometer

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Market Commentary

Market Continues to Weaken

Sales of single-family, re-sale homes in San Mateo County fell for the sixteenth month in a row, year-over-year. They were down 35.5% in December. There were 198 homes sold in San Mateo County last month. The average since 2000 is 398. 

The median sales price for single-family, re-sale homes was down 12.7% compared to last year. 

The average sales price fell 24.6% year-over-year.

The sales price to list price ratio rose from 98.9% to 99%.

Inventory of single-family, re-sale homes was up 98.4% compared to last year. As of January 5th, there were 246 homes for sale in San Mateo County. The average since January 2000 is 1,287.

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 from fifty-three to thirty-seven days.

It took thirty-seven 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 5.1% year-over-year.

Year-over-year, the average sales price fell 8.1%.

Condo sales were down 63% year-over-year. There were 40 condos sold last month. The average since January 2003 is 122.

Inventory was up 61.4% year-over-year.

As of January 5th, there were 113 condos for sale in San Mateo County. The average since January 2003 is 350.

Days of inventory rose from fifty-four to eighty-five.

It took an average of thirty-eight days to sell a condo last month.

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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