In San Mateo County, median sales price rose in 2018, following a trend that has been occurring for many years. The number of sold units in 2018 was at the lowest it’s been in the last five years. The number of new listing was up 5%. Sellers still might get more than their asking price. However, this trend may be on the decline.
The median sales price continued to rise throughout Santa Clara County, up 14% compared to last year. The number of sold units in 2018 dropped compared to the five past years, indicating that the market is cooling off in this area and giving buyers more opportunities to negotiate.
Asking prices followed the same trend as the last year, showing that Santa Clara County is still a seller’s market, which is less advantageous for those looking to buy.
The total number of new listings is still high compared to the last year, providing buyers with more choices and lessening the sense of urgency and competitive bidding. Buyers were quick to purchase any new listings that came on the market.
The upward trend of the number of properties for sale is also another indicator of increased options for buyers compared to last year.
Median sales price in Santa Cruz County increased in 2018 compared to the same time last year. The upward trend of median sales price reflects other counties in the Bay Area. The number of sold properties dropped in 2018 and the number of new listings on the market was lowest in the fourth quarter of 2018 for this year.
Santa Cruz County is a buyers’ market during 2018 and sellers are receiving lower than their Asking Prices. This trend has continued over the past years.
In the fourth quarter, the number of active listings dropped from the previous quarter in 2018 for Alameda County. The median sales price increased 4% compared to the same quarter of the last year and the upward trend in sales price has continued. The number of units sold decreased 5% year-over-year and 12% quarter-over-quarter, giving buyers better opportunities to negotiate.
Compared to the same time of the last year, average of days on market was up 11%, reflecting the slowdown in local inventory. The number of units sold decreased 6% year-over-year and 15% quarter-over-quarter, indicating an opportunity for buyers to negotiate better terms.
Asking prices in Contra Costa County dropped in 2018 and continues to soften. The median sales price was down 3.42% from October, and it was up 7% year-over-year. Contra Costa County single-family home values rose in 2018, similar to other counties in the area.
In the fourth quarter in Marin County, the median sales price rose 4% over the same period of the previous year, while the average number of days on market was down slightly as were the number of sales. The months of inventory has increased by 50% year-over-year, showing that while we’re still in an active seller’s market, there is a continued loosening and normalization from the frenzied pace of one or two years ago. The number of new listings dipped in the last quarter of 2018, caused by seasonal reflections.
San Francisco county experienced an upward trend in median sales price, continuing from 2017. San Francisco County continues to be a sellers’ market with the upward trend of sales prices. Compared to the same quarter of 2017, the average number of days on market was up 18%. This is reflective of the increased inventory, up 60% compared to the same quarter of 2017.
Median sold price has had an upward trend during the past years for San Mateo County. In 2018, units sold is the lowest it has been in the last five years. The number of new listings dipped in the last quarter of 2018, caused by seasonal reflections.
In San Mateo County, sellers still tend to get more than their asking price. However, this trend is slightly falling.
In Sonoma County, the number of new listings dropped significantly in the last quarter of 2018 compared to the rest of the year. The median sales price dropped 2% in this quarter compared to the same quarter last year. However, the average sales price rose 5% year-over-year. Sonoma County experienced a buyers’ market, giving buyers good opportunities to negotiate.
In Alameda County, the median sales price in 2018 increased 10% compared to the last year, and the rising median sales price has continued to trend countywide. The number of units sold decreased 5% year-over-year, which will give buyers better opportunities to negotiate. The number of active listings rose 5% from the previous year.