October 2019 Report
Single Family Homes in San Mateo County, All Cities, All Neighborhoods Change >
Average Price$1,740,880
-3.8%
Pending Properties353
+14.6%
Sale/List Price Ratio103.5%
-0.7%
Days of Inventory58
+43.7%
Trends at a Glance
| Trends At a Glance |
Sep 2019 |
Previous Month |
Year-over-Year |
| Median Price |
$1,495,000 (-2.3%) |
$1,530,000 |
$1,608,000 (-7.0%) |
| Average Price |
$1,740,880 (-3.8%) |
$1,809,290 |
$1,964,800 (-11.4%) |
| No. of Sales |
294 (-12.2%) |
335 |
302 (-2.6%) |
| Pending |
353 (+14.6%) |
308 |
384 (-8.1%) |
| Active |
583 (+30.4%) |
447 |
596 (-2.2%) |
| Sale vs. List Price |
103.5% (-0.7%) |
104.2% |
107.0% (-3.3%) |
| Days on Market |
27 (-7.4%) |
30 |
23 (+18.9%) |
| Days of Inventory |
58 (+43.7%) |
40 |
57 (+0.5%) |
Market Commentary
Prices for single-family, re-sale homes were down for the fourth month in a row, month-over-month. The median sales price fell 2.3% and the average sales price fell 3.8%. Year-over-year, the median sales price fell 7.0%, and the average sales price fell 11.4%.
The sales price to list price ratio dropped from 104.2% to 103.5%.
Home sales fell 12.2% from August, and, they were down, year-over-year, by 2.6%. There were 294 homes sold in San Mateo County last month. The average since 2003 is 398.
Inventory was down for the second month in a row. Last month, it was down 2.2% 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, rose eighteen to fifty-eight days.
As of October 5th, there were 583 homes for sale in San Mateo County. The average since January 2003 is 1,287.
It is taking twenty-seven 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 rose 2.3% year-over-year. It was down 9.2% from August. The average sales price fell 4.1% from August. Year-over-year, the average sales price dropped 4.4%.
Condo sales fell 9.8% year-over-year.
Inventory continues to expand. It has been higher than the year before fourteen months in a row. It gained 35.7% over last September.
As of October 5th, there were 175 condos for sale in San Mateo County. The average since January 2003 is 350.
Days of inventory rose to sixty-nine.
It is taking only twenty-one days to sell a condo.
If you are planning on selling your property, call me for a free comparative market analysis.