Monday Market Update: San Mateo County Overview

It’s no secret that real estate is hyperlocal so this week’s blog is bringing you just that – dialed in data on the 26 cities & towns that make up San Mateo County. This is the latest available data compiled for the most recent completed month – July 2021. August stats should be available mid-September. All info is courtesy of the San Mateo County Association of Realtors® - find all the #samcarstats HERE.

While we want to let the data do the talking, we do want to point out a few thigs that stood out to us:

* The average list price received is a 110% despite reports of industry ‘softening’.

* Days on market is 16 – homes are still selling fast.

* Months of inventory in our county ranges from 0.2 to 3.7 while a balanced market is 5-6.

* The lowest median sale price in any city is $960,000 in Loma Mar while the highest median sale price is $15,500,000 in Atherton; San Mateo median sale price is now $2,100,000.

In short, the market is still strong and homes are still in demand. Any inventory increases you may hear about are good news – yet still not enough to overcome the Silicon Valley housing crisis. While slower home price acceleration has been noted both nationally and statewide, this is merely the moderation of a spike and not the bursting of a bubble.

If you have any questions at all about what the recent summer trends and fall projections means for you on a hyperlocal level – please do not hesitate to reach out!

Bobbi Decker
DRE#00607999

Broker Associate
650.346.5352 cell
650.577.3127 efax
www.bobbidecker.com
NAR Instructor….“Designations Create Distinctions”
CIPS, SRS, ABR, CRS, SRES, GRI, CLHMS, REI, AHWD, RSPS, MSLG

Bobbi Decker & Associates fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. For more information, please visit: http://portal.hud.gov/