Real Estate Report presented by Thomas A. Neel

October 2017 Report

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


Median Price
$1,436,250
+5.1%
Average Price
$1,754,060
+1.6%
No. Sold
352
-4.3%
Pending Properties
366
+13.0%
Active
421
+30.3%
Sale/List Price Ratio
108.9%
+0.2%
Days on Market
25
+32.4%
Days of Inventory
35
+31.7%

Market Barometer

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Market Commentary

Home Prices Pop Again

Prices for single-family, re-sale homes rose by double-digits in September.

That’s two of the past three months the median price has been higher than the year before by double-digits.

The median price for homes gained 11.9% over last September. At $1,436,250, the median price is within shouting distance of the all-time high of $1,485,000 set in July.

The average price for homes rose 8.8% to $1,754,060.

The median price for condos gained 6.4%. The average price for condos was up 18.6% over last September.

Multiple offers continue to be the norm. The sales price to list price ratio, or what buyers are paying over what sellers are asking remains at triple digits: 108.9% for homes and 105.3% for condos.

The ratio has been over 100% for homes since April 2012 and for condos since June 2012.

Homes and condos are flying off the shelf. It is taking only twenty-five days to sell a home, on average. Condos are taking twenty-two days.

All of this is due to an incredible lack of inventory. Since January 2003, San Mateo County has averaged 84 days of inventory. Last month it was thirty-five. The number of homes for sale as of the fifth of September were 421. The average is 1,287.

Condos have averaged 94 days since 2000. Last month it was twenty-three. The number of condos for sale as of the fifth of September were 87. The average is 350.

To read "Preparing to Sell Your Home? The 5 Best Projects to do Now", click on the Newsletter link to the left.

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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