Real Estate Report presented by Pam Blackman

November 2022 Report

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


Median Price
$1,782,500
-4.4%
Average Price
$2,508,500
+3.4%
No. Sold
220
-12.0%
Pending Properties
428
-1.6%
Active
399
-22.5%
Sale/List Price Ratio
98.9%
-1.5%
Days on Market
25
-1.0%
Days of Inventory
53
-14.9%

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 fifteenth month in a row, year-over-year. They were down 40.5% in November. There were 220 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 19.2% compared to last year.

The average sales price fell 5.3% year-over-year.

The sales price to list price ratio fell from 100.4% to 98.9%. That’s the first time the ratio has been below 100% since March 2012.

Inventory of single-family, re-sale homes was up 85.6% compared to last year. As of December 5th, there were 399 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-two to fifty-three days.

It took twenty-five 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 7% year-over-year.

Year-over-year, the average sales price fell 8.7%.

Condo sales were down 26.7% year-over-year. There were 77 condos sold last month. The average since January 2003 is 122.

Inventory was up 13.4% year-over-year.

As of December 5th, there were 144 condos for sale in San Mateo County. The average since January 2003 is 350.

Days of inventory fell from sixty to fifty-four.

It took an average of forty-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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