Real Estate Report presented by Pam Blackman

February 2024 Report

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


Median Price
$1,884,440
+2.4%
Average Price
$2,305,240
-11.8%
No. Sold
170
+71.7%
Pending Properties
186
+31.0%
Active
231
+4.1%
Sale/List Price Ratio
105.7%
+6.1%
Days on Market
23
-51.1%
Days of Inventory
38
-43.4%

Market Barometer

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Market Commentary

Home Prices Down, Sales Up

Sales of single-family, re-sale homes in San Mateo County rose 16.4% in February, year-over-year. There were 170 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 8.1% compared to last year.

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

The sales price to list price ratio jumped from 99.6% to 105.7%.

Inventory of single-family, re-sale homes was down 14.4% compared to last year. As of March 5th, there were 231 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 sixty-seven to thirty-eight days.

It took twenty-three 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 8.1% year-over-year.

Year-over-year, the average sales price rose 9.5%.

Condo sales were up 10.2% year-over-year. There were 65 condos sold last month. The average since January 2003 is 122.

Inventory was up 5% year-over-year.

As of March 5th, there were 125 condos for sale in San Mateo County. The average since January 2003 is 350.

Days of inventory fell from seventy-nine to fifty-four.

It took an average of thirty-six 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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