August 2023 Report
Single Family Homes in San Mateo County, All Cities, All Neighborhoods Change >
Average Price$2,671,360
+7.5%
Pending Properties212
+9.3%
Sale/List Price Ratio103.3%
-0.2%
Days of Inventory43
-14.9%
Trends at a Glance
| Trends At a Glance |
Aug 2023 |
Previous Month |
Year-over-Year |
| Median Price |
$1,920,000 (-2.5%) |
$1,970,000 |
$1,950,000 (-1.5%) |
| Average Price |
$2,671,360 (+7.5%) |
$2,484,510 |
$2,472,430 (+8.0%) |
| No. of Sales |
256 (+20.2%) |
213 |
279 (-8.2%) |
| Pending |
212 (+9.3%) |
194 |
260 (-18.5%) |
| Active |
366 (+2.2%) |
358 |
452 (-19.0%) |
| Sale vs. List Price |
103.3% (-0.2%) |
103.5% |
101.0% (+2.3%) |
| Days on Market |
29 (+34.4%) |
22 |
23 (+27.2%) |
| Days of Inventory |
43 (-14.9%) |
50 |
49 (-11.8%) |
Market Commentary
Sales of single-family, re-sale homes in San Mateo County fell 10.2% in August. There were 254 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 1.5% compared to last year.
The average sales price rose 8.3% year-over-year.
The sales price to list price ratio stayed at 103.4%.
Inventory of single-family, re-sale homes was down 25.7% compared to last year. As of September 5th, there were 350 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 forty-six to forty-one days.
It took twenty-nine 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 14.3% year-over-year.
Year-over-year, the average sales price fell 0.3%.
Condo sales were down 25.5% year-over-year. There were 79 condos sold last month. The average since January 2003 is 122.
Inventory was down 32.9% year-over-year.
As of September 5th, there were 1427condos for sale in San Mateo County. The average since January 2003 is 350.
Days of inventory fell from forty-nine to fifty-six.
It took an average of forty-four days to sell a condo last month.
If you are planning on selling your property, call me for a free comparative market analysis.