Market Snapshot for San Mateo County, CA - 2019

By
Real Estate Agent with Compass CA DRE# 01215160

Not infrequently I am asked, "how's the market?" Occasionally the question is, "are we heading into a recession?"

In order to properly answer questions like those I turn to data (as well as anecdotal stories such as this one) I start with county data, then drill down to towns, neighborhoods, types of property, and general price ranges, property sizes, etc.

I work in three counties in the San Francisco Bay Area, primarily in San Francisco and San Mateo counties, with the balance in the Silicon Valley towns of Santa Clara County. While all are strong markets the data varies widely.

I reported recently on the San Francisco real estate market; today we'll look at San Mateo County in some detail. The first picture shows average prices of single family homes as reported to the multiple listing service over a 5-year period. Prices are high; the trend is good.

Next, let's look at how the various towns in San Mateo County performed in Q1 and Q2, 2019:

San Mateo County, sale prices by city, 2019Quite a difference in median sale prices from city to city! If we broke each city into neighborhoods, price ranges, size, etc, more differences would appear.

Next, let's take a look at Days on Market:

San Mateo Co.days on market.Q1 & Q2 2019Even three of the most expensive towns in the county show that homes are selling quickly, 44 to 51 days, lower price San Bruno averaged 13 days on market, with most others not far behind.

Now, checking San Mateo County current inventory, today there are 610 active listings of single family homes, 319 pending sales, and 354 have closed escrow between 8/16/19 and 9/18/19. Again, the data shows a strong sales in a short period of time.

Another educated opinion, this from Frank Nothaft, chief economist CoreLogic:

"With the for-sale inventory remaining low in many markets, the pick-up in buying has nudged price growth up. If low-interest rates and rising income continue, we expect home-price growth will strengthen over the coming year."

So, when I'm asked by a fearful buyer or seller "how's the market?" I'll continue to educate them, give them data pertinent to them, share anecdotal stories and then advise them, "the right time to buy (or sell) is when the time is right for YOU."

 

 

 

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Rainmaker
3,266,284
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Realtors - Luxury - Divorce

EXACTLY...real estate is soooo local...national statistics/trends/etc etc. are meaningless....having a local expert is what makes real estate REAL.

Sep 19, 2019 05:27 AM #1
Rainmaker
1,787,812
Lottie Kendall
Compass - San Francisco, CA
Helping make your real estate dreams a reality

So true, Sally K. & David L. Hanson - the public hears national stories about real estate without knowing how that affects the local area.

Sep 19, 2019 06:19 AM #2
Rainmaker
2,555,526
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

This is valuable real estate market data for home buyers and sellers in San Mateo County, Lottie.

Sep 21, 2019 05:44 AM #3
Ambassador
4,011,134
Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

Hi Lottie:

Your market report really helps buyers understand the diversity of the real estate market and that the answer to the question - how's the market - is a complex one. Despite our prices here in SoCal I am still gawking at what's going on in some areas that you service.

Jeff

Sep 21, 2019 08:12 AM #4
Rainmaker
1,787,812
Lottie Kendall
Compass - San Francisco, CA
Helping make your real estate dreams a reality

Hi Myrl Jeffcoat - I hope data like this is helpful to consumers; it is to me.

Sep 21, 2019 10:19 PM #5
Rainmaker
1,787,812
Lottie Kendall
Compass - San Francisco, CA
Helping make your real estate dreams a reality

Hello Jeff Dowler, CRS - I gawk at the prices, too. 

Sep 21, 2019 10:20 PM #6
Rainmaker
5,421,221
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Families on the move will certainly appreciate your local market reports.

Sep 24, 2019 07:01 AM #7
Ambassador
3,112,605
Paul S. Henderson, REALTOR®, CRS
RE/MAX Northwest. - Tacoma, WA
Tacoma Washington Agent/Broker & Market Authority!

That is one strong market Lottie Kendall. Thank you for sharing  

Sep 26, 2019 04:31 PM #8
Ambassador
3,112,605
Paul S. Henderson, REALTOR®, CRS
RE/MAX Northwest. - Tacoma, WA
Tacoma Washington Agent/Broker & Market Authority!

 I just read your Market report once again and I love all the facts and figures that you came up with Lottie Kendall 

Sep 28, 2019 07:03 PM #9
Rainmaker
2,036,462
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Fort Worth, TX
Selling Homes Changing Lives

Lottie Kendall - Serving three counties is not easy to juggle, yet you do it with finesse and ease because you are very detailed oriented and you don't generalize. You know that each county is unique, just like the clients you serve. If I were a client of yours, I'd be so proud and I would be referring you to everyone I came in contact with. Just as I am boasting now for all people in SF, San Mateo or Silicon Valley not to hesitate! 

Lottie, it was my good fortune to get to know you as a result of ActiveRain. Although AR is represented by many different agents and States, I believe just about everyone on ActiveRain knows your name and would agree when it comes to real estate sales for your are, you are the obvious choice!

Sep 29, 2019 07:44 AM #10
Rainmaker
1,787,812
Lottie Kendall
Compass - San Francisco, CA
Helping make your real estate dreams a reality

Hello Patricia Feager, MBA, CRS, GRI,MRP - Active Rain is a wonderful source of learning, sharing, and networking. I love the friendships that have developed, too. I appreciate your vote of confidence. Thank you.

Sep 29, 2019 08:09 AM #11
Rainmaker
1,787,812
Lottie Kendall
Compass - San Francisco, CA
Helping make your real estate dreams a reality

Good morning Paul S. Henderson, REALTOR®, CRS - I hope figures like these help buyers and sellers in my area understand a bit more about the market, enough to get us started in a conversation.

Sep 29, 2019 08:11 AM #12
Rainmaker
1,787,812
Lottie Kendall
Compass - San Francisco, CA
Helping make your real estate dreams a reality

Thanks Roy Kelley - I hope buyers and sellers find these statistics and trends helpful as a starting point.

Sep 29, 2019 08:12 AM #13
Rainmaker
3,201,120
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Happy Sunday Lottie,  Great information for your buyers and sellers in your area and also us here in the Rain.

 

Sep 29, 2019 09:51 AM #14
Rainmaker
1,787,812
Lottie Kendall
Compass - San Francisco, CA
Helping make your real estate dreams a reality

Hi Will Hamm - I'm glad you found the market trend and data for San Mateo County interesting. Information like this is a great starting place for buyers and sellers before we drill down even more. Wishing you a great day.

Sep 29, 2019 02:00 PM #15
Ambassador
3,349,068
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

Lottie, you did such a fabulous job showing the stats reflecting YOUR market! Thank you so much for participating in this month's challenge.

Sally K. & David L. Hanson's comment is precisely THE reason for this challenge! The news media has people in areas that are still very entrenched in incredibly low inventory, worried out of their minds about a recession...did they wait too long to list? Blah, blah, blah!

I've been explaining away this fear for a couple of months and we're not even anywhere near a correction here in Charlotte!

As I shared on Sheri Sperry - MCNE®'s post (who shared a fantastic 'national' approach about basic economics that I believe a lot of people have forgotten!):

In a recent Business Journal poll, they ask questions to guide them in how they will be reporting in upcoming months. (And I love the savvy respondents' answers too!)

Charlotte Business Journal Poll

Sep 29, 2019 11:55 PM #16
Rainmaker
3,266,284
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Realtors - Luxury - Divorce

No no Debe Maxwell, CRS ...we deal with people in ALL price ranges and backgrounds includeing  investments of many kinds, lending etc....what MAY be the case in your area is not at all in ours...One can never assume what is true in one place is everywhere  OE anywhere else..No on here uses the "R " word...it is not true here...Amen and Women.

Sep 30, 2019 04:04 AM #17
Rainmaker
1,787,812
Lottie Kendall
Compass - San Francisco, CA
Helping make your real estate dreams a reality

We know, Debe Maxwell, CRS and Sally K. & David L. Hanson just how local real estate is; our job is to help consumers understand that.

Sep 30, 2019 07:47 AM #18
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