SAN MATEO COUNTY REAL ESTATE AT A GLANCE

San Mateo County Single Family Homes
2015 2016 Difference
Days on market 20 27 35.00%
Median Selling Price $1,222,500.00 $1,300,000.00 6.34%
Percentage over Listing Price 108% 104% -3.70%
Price per Square Foot $763.00 $768.00 0.66%
Months of Inventory 1.2 1.8 50.00%

Key Take Aways for Single Family Homes–San Mateo County

  • The market shift of recent months continues with a 35% increase in the amount of time
    homes are staying active on market. In many cases, offer dates are coming and going with
    no takers resulting in many price reductions. Much of this can be blamed on sellers
    mis-pricing their properties using 2015 sales data not recent 2016 data.
  • Prices are up over 6% year on year.
  • The delta between list price and selling price also continues to feel downward pressure.
  • The norm is no longer double digits like 2015.
  • Price per square foot is in line with median selling prices.
  • While far from a buyers market, inventory continues to creep up, 50% year on year.
  • Buyers are encouraged to keep their foot on the gas,as the marketplace is still very competitive.
  • Sellers should be wary of agents promising fortunes based on old sales data

San Mateo County Condos

2015 2016 Difference
Days on market 18 23 27.78%
Median Selling Price $810,000.00 $727,500.00 -10.19%
Percentage over Listing Price 108% 103% -4.63%
Price per Square Foot $661.00 $671.00 1.51%
Months of Inventory 1.5 1.6 6.67%

Key Take Aways for Condos–San Mateo County

  • The market shift of recent months continues. Properties are staying on the market longer.
    Close to 28% longer!
  • Offer dates are coming and going with no takers resulting in many price reductions. Much
    of this can be blamed on sellers mispricing their properties using 2015 sales data,not
    recent 2016 data.
  • Prices are up down over 10%year on year. Opportunities exist for buyers!
  • The delta between list price and selling price also continues to feel some downward
    pressure. The norm is no longer double digits.
  • Price per square foot is also up slightly.
  • Just like single-family homes, inventories continue a slow but steady increase.
  • Buyers are encouraged to keep their foot on the gas,as the marketplace is still very
    competitive.
  • Sellers should be wary of agents promising fortunes based on old sales data.

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