San Mateo County Real Estate |
Home Prices by City; Short-Term & Long-Term Appreciation Trends; Migration In & Out of County; Price Reductions; Luxury Home Sales |
After the heat of the spring market, activity typically slows down markedly in July and August. In September, listings start pouring on the market again to fuel the relatively short autumn selling season – in fact, September is sometimes the single month with the highest number of new listings. What occurs in the next 2+ months, before the mid-winter holiday doldrums begin, will be the next major indicator of market conditions and direction.
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Median Home Prices by City
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Using new U.S. Census estimates released 8/29/19, this chart attempts to identify U.S. counties, states and international regions with the highest number of residents migrating to and from our county. In the Bay Area, there is a general trend outward from more expensive to more affordable places, while in-bound migration is deeply affected not only by exchanges between Bay Area counties, but people arriving from other parts of the state, country and world. Areas often have large two-way exchanges of residents. Foreign in-migration is a huge issue in the Bay Area, but it will be another year before any impact of new U.S. immigration policy on foreign in-migration in 2018 shows up in census numbers. The census estimates foreign in-migration in this analysis, but not foreign out-migration. |
Median House Sales Price Trends – Selected San Mateo County Cities |
In 2019 YTD, some cities median sales prices are up a little, some down a little, and some about the same as in 2018. For the entire county – illustrated later in this report – the median house sales price is virtually unchanged. Note that some cities – such as Redwood Shores and Atherton – have relatively few sales, which makes their median prices more prone to anomalous fluctuations. Full year 2019 prices may well be significantly different than the YTD prices below.
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Short-Term & Long-Term Trends in County Median Home Values |
Selected Market Indicators |
The chart below compares supply, the number of active listings on the market, with demand, as measured by the number of sales. This is a seasonally adjusted graph that smooths out normal monthly fluctuations to provide clearer historical trend lines. As context, the data below begins in 2013, after the market recovery was already well underway. If the data went back to the 2009 – 2011 period, during the post-crash market recession, the divergence between the two lines would be much, much greater than at any time illustrated here.
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Trends in Price Reductions |
The next chart measuring unsold inventory helps give greater context to market conditions and changes. The ups and downs since 2012 are relatively minor compared to the situation that prevailed during the 2008-2011 market recession, when monthly unsold inventory figures were highly elevated.
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Bay Area Luxury Home Sales |
San Mateo County has the second largest luxury home market in the Bay Area – after much more populous Santa Clara County – and the largest for "ultra-luxury" homes selling for $5 million and above.
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Compass is a real estate broker licensed by the State of California operating under
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1935359, 1961027, 1842987, 1869607, 1866771, 1527205, 1079009, 1272467. All material presented
herein is intended for informational purposes only and is compiled from sources deemed reliable
but has not been verified. Changes in price, condition, sale or withdrawal may be made without
notice. No statement is made as to accuracy of any description. All measurements and square
footage are approximate. Equal Housing Opportunity.
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