It is apparent that below $400000 , the sales are very brisk and the supply cannot even catch up with the demand.
However above 3 million, we have a glut of homes . Out of 138 total listings only 22 were listed as sales thus we have now a supply of 6 months which is not as bad as in Santa Clara for the high priced market where we have a 13 month supply of homes above 3 Million.The reason for this is that financing is not as easy to get as banks are very gun shy.Already burnt badly , they do not want to take a chance.Already Bank of America is going to reduce Conforming loan limit from July 1 even though FHA loan limits are not going to change till Oct. 1, 2011
| San Mateo County | For The Month of May, 2011 |
| | | | |
| Single Family Homes | | | | |
| | | | |
| Range | Active | Pending Sale | Ratio |
| 3 Million to 30 Million | 116 | 22 | | 5.27 |
| 2 Million to 3 Mil | 75 | 18 | | 4.17 |
| 1Mil to 2 Mil | 291 | 147 | | 1.98 |
| 900k to 1 Mil | 82 | 39 | | 2.10 |
| 800k -900K | 87 | 53 | | 1.64 |
| 700K to 800K | 110 | 74 | | 1.49 |
| 600K-700K | 116 | 71 | | 1.63 |
| 500K-600K | 162 | 117 | | 1.38 |
| 400K-500K | 206 | 199 | | 1.04 |
| 300K-400K | 100 | 117 | | 0.85 |
| 200K-300K | 29 | 99 | | 0.29 |
| 100K-200K | 4 | 21 | | 0.19 |
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