Real Estate Report presented by Pam Blackman

October 2020 Report

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


Median Price
$1,675,500
-4.3%
Average Price
$2,076,900
-6.0%
No. Sold
486
+15.4%
Pending Properties
496
+0.6%
Active
543
-4.1%
Sale/List Price Ratio
103.4%
+1.0%
Days on Market
21
-15.2%
Days of Inventory
34
-14.0%

Market Barometer

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Market Commentary

Home Sales Continue to Surge, Prices Rise

Sales of single-family, re-sale homes in San Mateo County were up for the fourth month in a row, year-over-year, in October. They rose 27.9%. There were 486 homes sold in San Mateo County last month. The average since 2000 is 398.

Year-to-date, home sales are down 5.2%.

Although continuing to back off the high set in August, the median sales price for single-family, re-sale homes was up, year-over-year, by 7.6%.

The average price also backed off the high set in August. It was up 6.3% year-over-year.

Inventory of single-family, re-sale homes was down for the second month in a row, falling 8.9% compared to last year. As of November 5th, there were 543 homes for sale in San Mateo County. The average since January 2000 is 1,287.

The sales price to list price ratio rose to 103.4% from 102.4%.

Days of Inventory, or the amount of time it would take to sell all homes for sale divided by how many homes have sold, dropped five days to thirty-four days.

It took twenty-one 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 1.6% year-over-year. It was down 1.1% from September. The average sales price rose 3.4% from September. Year-over-year, the average sales price gained 3.3%.

Condo sales were up 13.8% year-over-year. Condo sales were up 3.1% from September.

Inventory rose 49.2% year-over-year. It was up 6.9% compared to September.

As of November 5th, there were 294 condos for sale in San Mateo County. The average since January 2003 is 350.

Days of inventory rose to sixty-seven from sixty-two.

It took an average of twenty-five 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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