Real Estate Report presented by Thomas A. Neel

August 2020 Report

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


Median Price
$1,800,000
+4.3%
Average Price
$2,274,470
+4.7%
No. Sold
362
-15.2%
Pending Properties
429
+5.9%
Active
559
+7.5%
Sale/List Price Ratio
102.4%
+1.1%
Days on Market
26
-8.8%
Days of Inventory
46
+26.8%

Market Barometer

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Market Commentary

Home Prices at Record Highs

The median sales price for single-family, re-sale homes was up, year-over-year, by 16.6%. It reached a new high of $1,800,000.

The average price was up 24.3%. It set a new high of $2,274,470.

Sales of single-family, re-sale homes in San Mateo County were up 7.7% year-over-year. There were 362 homes sold in San Mateo County last month. The average since 2000 is 398.

Year-to-date, home sales are down 15.2%.

Inventory of single-family, re-sale homes was up 13.4% compared to last year. As of September 5th, there were 559 homes for sale in San Mateo County. The average since January 2000 is 1,287.

The sales price to list price ratio rose from 101.3% to 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, rose nine days to forty-six days.

It took twenty-six 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 7.7% year-over-year. It was down 1.1% from July. The average sales price rose 4.6% from July. Year-over-year, the average sales price gained 1.2%.

Condo sales fell 3.6% year-over-year. Condo sales were down 6.1% from July.

Inventory rose 76.6% year-over-year. It was up 7.1% compared to July.

As of September 5th, there were 242 condos for sale in San Mateo County. The average since January 2003 is 350.

Days of inventory rose to sixty-seven from fifty-nine.

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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