Market Updates

San Mateo County First Quarter Market Report

May 1, 2019

Seasonal change has a large impact on the number of homes sold in a market, with the lowest number typically occurring around December and January. 

Increasing homes being sold over listing price is a very good indicator of rising home prices, often fueled by lack of available inventory. Homes being sold under listing price suggests a more normalized market. In San Mateo County, the home price average dropped by 4% indicating, among other factors, that there was a softening in higher priced home sales. Average days on market has been on the rise in San Mateo County. Many people look at days on market trends to spot changes in the real estate market. Increasing days on market implies that competition is down and that buyers are not as eager, although current statistics show that well priced properties are not staying on the market long.

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