Monday Market Update: San Mateo County Home Sales Stats
November data will be calculated soon – here is where the price points landed in October!
We hope you all had a wonderful week and weekend filled with giving & thanks; we are grateful to you for coming back to read our Monday Market Update this week! As we bid farewell to November and await the calculation of the sales and prices for the month, we wanted to let you know where October landed.
The infographic below, courtesy of the San Mateo County Association of Realtors (SAMCAR)®, reveals a few notable points about the local market.
• Interestingly, single home family sales have decreased month-over-month, yet condo & townhome sales have increased.
• Days on market has decreased for all property types, possible reasons could be a more realistic match between seller & buyer price expectations and a desire to close before the holidays.
• Home prices are 3.5% higher month-over-month for SFRs and 1.8% lower for multifamily properties.
As you can see, none of these changes are dramatic and all are typical for a return to market normalcy. Remember that two weeks ago we shared a national home price increase of 40.6% on average in just two years! Thus, a price decrease of less than 2% in the condo market is scarcely considered a plummet (which too often is what the media reports at any price decrease of any size).
As always, we encourage you to base your own real estate decisions in facts and not fear. The right time to make a move (or not!) is when it is right for you and your situation.
Best wishes for a great end to a great month,
Bobbi Decker
DRE#00607999
Broker Associate, Bobbi Decker & Associates
650.346.5352 cell
650.577.3127 efax
www.bobbidecker.com
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