Blog

San Mateo County Real Estate Market Report

 

San Mateo Real Estate

7 Months after the Pandemic Struck

October 2020 Report 

The table below compares Q3 statistics across 5 years. Three charts further down we will discuss one of the dynamics behind the huge year-over-year increase in median house sales price. 
 
 

Median House & Condo Sales Prices by Quarter

 
 
 
Median sales prices can rise because of increases in fair market value – i.e. buyers are paying more money for the same home (supply and demand) – and/or because buyers are purchasing larger, more expensive houses. Both dynamics are currently at play, but it is certain that affluent and very affluent buyers have made up a dramatically increasing percentage of the total market throughout the Bay Area. In San Mateo County, the average size of houses sold in Q3 jumped a whopping 11% year over year, which explains some of the enormous increase in median house sales price.
 
 
The next chart measures the annual percentage ups and downs in median house sales price since 1994. The 2020 YTD percentage will almost certainly change, one way or another, by the time full-year sales data is in.
 
 

4 Supply & Demand Indicators

 
 
 
 
 

Median House Sales Price Trends in Selected Cities

 
 
 
 
 
 
 

Work With Us

Catherine stands out in the real estate field because of her total dedication and pursuit of excellence for each and every one of her clients. Contact us today to find out how we can be of assistance to you!
Contact Us