Spring Surge in San Mateo County

spring surgeSales of single-family, re-sale homes rose for the third month in a row in April, month-over-month. Home sales in San Mateo county still lag from the year before.

 

  • Active listings continue to be anemic, down by double-digits for the tenth month in a row.
  • Pending sales were down double-digits for the eighth month straight.
  • Median and average prices for homes hit all-time high last month, as did our three-month moving averages.
  • Sales price to list price ratio reached its highest level since we’ve been keeping track: January 2003.
  • Days on Market was at 22 last month.

All these statistics point to incredible demand.

The economy in Silicon Valley continues to power the market, along with demand from China.

 

To read the full report:  San Mateo Monthly Report May 2015

 

For the complete annual report, which includes charts and graphs for each city in the county,  San Mateo Annual Report

 

Trends at a Glance
(Single-family Homes in San Mateo County)
  Apr 15 Mar 15 Apr 14
Median Price: $1,297,500  $1,290,000  $1,001,000
Average Price: $1,619,040  $1,603,060  $1,424,330
Home Sales: 394 328 443
Pending Sales: 346 341 402
Active Listings: 377 351 618
Sale/List Price Ratio: 109.8% 109.4% 107.8%
Days on Market: 22 22 21
Days of Inventory: 28 32 40