Real Estate Report presented by Mary Pope-Handy

August 2021 Report

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


Median Price
$2,925,000
+13.0%
Average Price
$3,064,620
+0.1%
No. Sold
35
-27.1%
Pending Properties
43
-10.4%
Active
38
+26.7%
Sale/List Price Ratio
105.2%
+1.4%
Days on Market
25
+28.2%
Days of Inventory
33
+73.7%

Market Barometer

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Market Commentary

Home Sales Prices Continue to Retreat, Slightly

Sales prices for single-family, re-sale homes continued falling in August. The median sales price fell 8.6% from July. Nevertheless, it was up 6.7% compared to last year. That’s the fifteenth month in a row the median sales price has been higher than the year before.

The average sales price for single-family, re-sale homes fell 13.1% from July. It was down 0.6% year-over-year. This after being higher than the year before twenty months in a row.

The sales price to list price ratio fell to 109.5% from 109.6%.

Sales of single-family, re-sale homes in San Mateo County were up for the fourteenth month in a row in August. They gained 4.4% year-over-year. There were 378 homes sold in San Mateo County last month. The average since 2000 is 398.

Inventory of single-family, re-sale homes was down 41.3% compared to last year. As of September 5th, there were 328 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, rose to twenty-six days.

It took fourteen 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 rose 13.9% year-over-year. 

Year-over-year, the average sales price rose 7%.

Condo sales were up 44.4% year-over-year. There were 156 condos sold last month. The average since January 2003 is 122.

Inventory was down 37.2% year-over-year.

As of September 5th, there were 152 condos for sale in San Mateo County. The average since January 2003 is 350.

Days of inventory fell to twenty-nine from thirty-five.

It took an average of twenty-three days to sell a condo last month.

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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