In much of San Mateo County, prices for single-family homes surged in 2014. What about the market in those same towns for condos and townhouses?
Here's a glimpse of 2014 in selected towns on the Peninsula:
Let's look at the first four towns listed here and see what's happening at the beginning of 2015:
- San Mateo: 21 Active listings, with a high of $2,688,000 for an ultra-luxury 4-bedroom, 4.5 bath unit and a low of $329,000 for a rare studio. 10 listings closed escrow since 1/1/15, at a median price of $684,000.
- Belmont: only 2 active listings, average price around $795,000. 1 property closed escrow since 1/1/15, at $735,000.
- San Carlos: 1 active listing, priced at $739,000. 1 closed escrow since 1/1/15, at $730,000
- Redwood City: 9 active listings with a high of $1,125,000 and a low of $450,000; median price $699,000. 8 have closed escrow since 1/1/15, with a median price of $825,000.
While the year has just begun, two things pop out at me: 1) we need more inventory; and 2) prices seem to continue their rise.
If you'd like information about your area, your market segment, give me a call.
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