August 2024 Report
Single Family Homes in San Mateo County, All Cities, All Neighborhoods Change >
Average Price$2,497,550
-3.3%
Pending Properties242
+7.6%
Sale/List Price Ratio105.7%
+0.1%
Trends at a Glance
| Trends At a Glance |
Aug 2024 |
Previous Month |
Year-over-Year |
| Median Price |
$1,900,000 (-9.3%) |
$2,095,000 |
$1,920,000 (-1.0%) |
| Average Price |
$2,497,550 (-3.3%) |
$2,581,560 |
$2,671,360 (-6.5%) |
| No. of Sales |
255 (-2.7%) |
262 |
256 (-0.4%) |
| Pending |
242 (+7.6%) |
225 |
212 (+14.2%) |
| Active |
365 (+3.7%) |
352 |
366 (-0.3%) |
| Sale vs. List Price |
105.7% (+0.1%) |
105.7% |
103.3% (+2.3%) |
| Days on Market |
22 (+5.4%) |
21 |
29 (-22.8%) |
| Days of Inventory |
43 (+6.5%) |
40 |
43 (+0.1%) |
Market Commentary
Sales of single-family, re-sale homes in San Mateo County fell 0.4% in August, year-over-year. There were 255 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 $1,900,000. It was down 1% compared to last year.
The average sales price fell 6.5% year-over-year.
The sales price to list price ratio stayed at 105.7%.
Inventory of single-family, re-sale homes was up 0.3% compared to last year. As of September 5th, there were 365 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, rose from forty days to forty-three days.
It took twenty-two 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 11.7% year-over-year.
Year-over-year, the average sales price gained 5.1%.
Condo sales were up 13.9% year-over-year. There were 90 condos sold last month. The average since January 2003 is 122.
Inventory was up 10.7% year-over-year.
As of September 5th, there were 166 condos for sale in San Mateo County. The average since January 2003 is 350.
Days of inventory dropped from seventy-seven to fifty-five.
It took an average of thirty-seven days to sell a condo last month.
If you are planning on selling your property, call me for a free comparative market analysis.