HOUSING MARKET UPDATE: April 2019 San Mateo County

Not much has changed since last month with San Mateo County home prices. As the stock market has bounced back, home prices have followed. Inventory is about 30% higher than in March 2018, but that only means that inventory is about the same as it was in March 2015-2017; those were good years for the real estate market too.

Cumulative new listings for the last 12 months have cracked the 5,000 single family homes ceiling, which was common in 2015 and before, but not for the past three years. So we are getting a few more people selling their homes then over the past 4 years.

The big conversation lately seems to be about interest rates on 30-year fixed mortgages. After hitting close to 5.0% APR last fall, they are now back down to around 4.0%. Given that the GDP numbers from last fall were closer to 2.0%, it seems unlikely that rates will be raised anytime soon.

30-year fixed mortgage rates

San Mateo County Single-Family Homes
Sales, New Listings & Inventory

Monthly Averages for the Dow Jones Industrial Index vs. San Mateo County Ave. Single Family Home Price/SqFt of Living Space

The price per foot of living space for the average single-family home in San Mateo County correlates very well with the performance of the stock market

MONTH-OVER-MONTH INVENTORY, NEW LISTINGS & SALES

Real Estate is seasonal. The graph below compares the same month over several years (Ex: graphs data for January for many years)

CUMULATIVE PAST 12 MONTHS SALES and NEW LISTINGS

SHAMELESS SELF PROMOTION

If you enjoyed this Newsletter and think that someone you know will also like the content, then feel free to forward it on to them. If you’re looking to buy or sell a home in either San Mateo or Santa Clara County, consider interviewing me to become your agent. Perhaps you know someone that needs a great realtor, please pass my name along. Thanks.

All information is deemed reliable, but not verified.
Vabrato may not have participated in any of the sales transaction listed.
This post is not intended to solicit property currently listed for sale.

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