August 2018 Report
Single Family Homes in San Mateo County, All Cities, All Neighborhoods Change >
Average Price$1,853,850
-3.0%
Pending Properties281
-3.4%
Sale/List Price Ratio108.4%
-0.6%
Days of Inventory42
+11.0%
Trends at a Glance
| Trends At a Glance |
Aug 2018 |
Previous Month |
Year-over-Year |
| Median Price |
$1,497,500 (-6.4%) |
$1,600,000 |
$1,355,500 (+10.5%) |
| Average Price |
$1,853,850 (-3.0%) |
$1,911,070 |
$1,731,170 (+7.1%) |
| No. of Sales |
368 (-3.9%) |
383 |
376 (-2.1%) |
| Pending |
281 (-3.4%) |
291 |
305 (-7.9%) |
| Active |
516 (+6.6%) |
484 |
416 (+24.0%) |
| Sale vs. List Price |
108.4% (-0.6%) |
109.1% |
108.5% (-0.1%) |
| Days on Market |
22 (+2.5%) |
21 |
21 (+2.8%) |
| Days of Inventory |
42 (+11.0%) |
38 |
33 (+26.7%) |
Market Commentary
HARP® will end December 31, 2018.
Introduced in March 2009, HARP enables borrowers with little or no equity to refinance into more affordable mortgages without new or additional mortgage insurance. HARP targets borrowers with loan-to-value (LTV) ratios equal to or greater than 80 percent and who have limited delinquencies over the 12 months prior to refinancing.
To see if you are eligible, go here:
https://www.harp.gov/
MARKET STATISTICS
The San Mateo County real estate market continued to slow in August with single-family, re-sale home sales and prices lower than the month before.
Nevertheless, sales and prices were higher than the year before. The median price for homes was up 9.7% over last year, while the average price was up 5.2%.
The median price for homes peaked at $1,770,000 in April and is now at its lowest level since January.
The average price for homes peaked in May and is at its lowest level since January.
The sales price to list price ratio, or what buyers are paying over what sellers are asking had been declining but turned slightly upwards in August. It gained 0.1 of a point to 109.2%.
Days of Inventory rose sixteen days to forty-nine days in August. Since January 2000, San Mateo County has averaged eighty-one days of inventory.
It is taking twenty-one days to sell a home. Home sales were off, year-over-year, 20.4%.
As of September 5th, there were 480 homes and 87 condos for sale in San Mateo County.