March 2021 Report
Single Family Homes in San Mateo County, All Cities, All Neighborhoods Change >
Average Price$2,389,700
-2.8%
Pending Properties457
+24.9%
Sale/List Price Ratio106.7%
+1.8%
Days of Inventory29
-21.9%
Trends at a Glance
| Trends At a Glance |
Mar 2021 |
Previous Month |
Year-over-Year |
| Median Price |
$1,990,000 (+3.9%) |
$1,914,500 |
$1,730,000 (+15.0%) |
| Average Price |
$2,389,700 (-2.8%) |
$2,458,150 |
$2,119,200 (+12.8%) |
| No. of Sales |
339 (+44.9%) |
234 |
272 (+24.6%) |
| Pending |
457 (+24.9%) |
366 |
209 (+118.7%) |
| Active |
327 (+1.9%) |
321 |
403 (-18.9%) |
| Sale vs. List Price |
106.7% (+1.8%) |
104.8% |
106.2% (+0.5%) |
| Days on Market |
19 (-33.9%) |
29 |
22 (-11.7%) |
| Days of Inventory |
29 (-21.9%) |
37 |
44 (-34.9%) |
Market Commentary
The median sales price for single-family, re-sale homes set a new high of $1,990,000 last month, for the second month in a row. It rose 13.7% compared to last year. That’s the tenth month in a row the median sales price has been higher than the year before.
The average sales price for single-family, re-sale homes was up 12.4% year-over-year.
The sales price to list price ratio rose to 106.7% from 104.8%.
Sales of single-family, re-sale homes in San Mateo County were up for the ninth month in a row, year-over-year, in March. They rose 27% year-over-year. There were 339 homes sold in San Mateo County last month. The average since 2000 is 398.
Inventory of single-family, re-sale homes was down 0.6% compared to last year. As of April 5th, there were 327 homes for sale in San Mateo County. The average since January 2000 is 1,287.
Days of Inventory, or the amount of time it would take to sell all homes for sale divided by how many homes have sold, dropped to twenty-nine from thirty-seven days.
It took nineteen days, on average, to sell a home last month. That is the time from when a home is listed to when it goes into contract.
The median sales price for re-sale condos fell 8% year-over-year.
Year-over-year, the average sales price fell 4.9%.
Condo sales were up 4.4% year-over-year. There were 118 condos sold last month. The average since January 2003 is 122.
Inventory was up 88.2% year-over-year.
As of April 5th, there were 143 condos for sale in San Mateo County. The average since January 2003 is 350.
Days of inventory fell to thirty-six from thirty-seven.
It took an average of twenty-nine days to sell a condo last month.
If you are planning on selling your property, call me for a free comparative market analysis.