HOUSING MARKET UPDATE: May 2019 San Mateo County

The Average single family home sold for $2,068,000 in San Mateo County in the month of April. This is a 7% higher average sales price than in March, but only a 2% increase on a per square foot value basis. The average value per square foot of living space rose from $980/SqFt in March to $1,002/SqFt in April.

Otherwise things are pretty much the same as before. The number of new listings is pretty normal for April as were the quantity of homes sold. Homes are selling on average in 23 days which reflects a fairly active active market.

The median price for single family homes currently for sale in San Mateo County is $1,995,000 with an average of $3,462,000. We still have many luxury homes sitting on the market. Approximately 25% of homes for sale are priced above $3M. The homes priced above $3M have been on the market for an average of 88 days while those priced below $3M only 33 days.

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.