May 2019 Report
Single Family Homes in San Mateo County, All Cities, All Neighborhoods Change >
Average Price$2,144,960
+8.0%
Pending Properties330
+2.2%
Sale/List Price Ratio106.0%
+0.6%
Trends at a Glance
| Trends At a Glance |
May 2019 |
Previous Month |
Year-over-Year |
| Median Price |
$1,760,000 (+10.0%) |
$1,600,000 |
$1,600,000 (+10.0%) |
| Average Price |
$2,144,960 (+8.0%) |
$1,986,030 |
$2,111,440 (+1.6%) |
| No. of Sales |
410 (+9.0%) |
376 |
433 (-5.3%) |
| Pending |
330 (+2.2%) |
323 |
353 (-6.5%) |
| Active |
567 (+15.2%) |
492 |
429 (+32.2%) |
| Sale vs. List Price |
106.0% (+0.6%) |
105.4% |
112.2% (-5.5%) |
| Days on Market |
21 (-14.2%) |
24 |
16 (+26.2%) |
| Days of Inventory |
41 (+9.3%) |
38 |
30 (+39.6%) |
Market Commentary
Prices for single-family, re-sale homes were up in May from April. The median sales price rose 9.1% and the average sales price rose 8.9%. Year-over-year, the median sales price was up 10.3% but the average sales price fell 2.8%.
The sales price to list price ratio, which had a peak last spring of 113.3%, had dropped to a low of 102.4% in January. Last month it was up to 105.9%.
Home sales rose 26% from April, but, were down, year-over-year, for the seventh month in a row: -6.8%. There were 397 homes sold in San Mateo County last month. The average since 2003 is 398.
Inventory continues to expand. It has been higher than the year before twelve months in a row. Last month, it was up 42.4% over last year.
Days of Inventory, or the amount of time it would take to sell all homes for sale divided by how many homes have sold, was down to forty-one days.
As of June 5th, there were 544 homes for sale in San Mateo County. The average since January 2003 is 1,287.
It is taking twenty-one days to sell a home. That is the time from when a home is listed to when it goes into contract.
Prices for re-sale condos were up last month from the month before, and they were up year-over-year. The median sales price rose 4.9% from April. The average sales price gained 7.5%. Year-over-year, the median sales price was up 3.8% and the average sales price gained 5.6%.
Condo sales dropped 13.3% year-over-year.
Inventory continues to expand. It has been higher than the year before ten months in a row.
As of June 5th, there were 152 condos for sale in San Mateo County. The average since January 2003 is 350.
Days of inventory rose to forty-four.
It is taking only twenty-three days to sell a condo.
If you are planning on selling your property, call me for a free comparative market analysis.