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January 2012 - May 2013 San Mateo County Statistics

by Samia S. Morgan

Housing Market Update

San Mateo County Statistics

As you have heard in the media, our market is hot.... Here are some interesting statistics for San Mateo County.

Our Average sales price in San Mateo County has now surpassed $1,200M!!!   Our Days on the market in the last twelve months have peaked in November of 2012 and are now just a bit over 20 days... now that takes into account bank owned and short sales which will tend to take that average higher.   So the bottom line is we are back in a hot and heavy Seller's market!  Buyers are very well informed and you still need to price your home well to take advantage of the upbid process!

      ‚Äč

 

Also below are more statistics for San Mateo County:

The average $/square foot in San Mateo County has gone from approximately $500/sq. ft in 2012 to over $600/sq. ft. in the most recent months.  This is a VERY significant change.  You can cal so see how the Sale Price to List Price ratio has skyrocketed over the noted period.  All good news for Sellers... not so great for Buyers.... however, as I have been known to say, Buyers don't typically buy in a Buyer's market.... they feel comforted to know they are not the only ones taking the plunge.

San Mateo County Outlook

by Samia S. Morgan

San Mateo County Statistics for Single Family Homes

Looking at our Trend in the last Three Years

Three-Year Analysis for Sale Price to List Price Ratio

As you can see our Listings are selling well over the asking price.  Almost to 104% of the asking price in the Fall of 2012.... The Market is hot as we have been reporting!  

If you are thinking of Selling, this is a very good time.  If you are thinking of buying, don't delay.

 

Three-Year Analysis for Days on the Market - DOM

As you can see, our days on the market have dropped from 80 days to less than 40 days on the market... over 50% drop.

 

Three-Year Analysis for Closed Sales $ Volume

Our Sales Volume has shown almost seasonal characteristics with peaks in the latter part of the first half of the year and in the fourth quarter.  With our weather we tend to not experience the seasonal nature of real estate sales that other states experience.

 

Three-Year Analysis for Closed Sale in Units

Our Sales Units have shown the same pattern as those for the volume above.

 

 

 

San Mateo County Outlook

by Samia S. Morgan

Mid-Year Sales Perspective for San Mateo County

‚ÄčAuthor: Samia Morgan

You hear a lot in the media about the real estate market and how it is doing and not doing.  I want to share with you some statistics that show how we are REALLY doing.

You may have heard about our inventory, or number of homes on the market, being high.  Actually, we have had low inventory in the last few years. You can see from the chart below that our  Single Family Home Inventory is less than four months worth for the entire San Mateo County.  Back in 2009, our inventory was almost double.

 
 
Now looking at our average sales price... this is truly a staggering statistic.  You can see that, from the chart below, that we bottomed out in January/February of this year, with the average sales price at just below $800K.  Now looking at August 2012, you can see that we had more than a 50% increase in our average sales price which is incredible.  May, June and July of 2012 showed an increase of 25% from that of the beginning of the year, so let's see if our August figures will hold for the next few months.
 
 
Taking a look at our last chart below, you can see that we have had a steady increase in the Sales Price to List Price ratio since December 2011 taking us to around 102%.   During that same time period, our average Days on Market, DOM, has gone down almost by 50% from 85 days on market to 43 days on market.
 

 

For a specific analysis of your own area of interest, email me at samia@samiamorgan.com or call me at 650 352-5220.  Enjoy your summer!  Samia Morgan 

Data is deemed reliable but is not guaranteed.

 

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Photo of Samia S. Morgan, Inc. Real Estate
Samia S. Morgan, Inc.
dba Samia Realty Group
BRE# 00967165
San Mateo CA 94403
650-678-3633