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.