Is San Mateo County, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, San Mateo County has remained a Seller's Market.
Key Takeaway
San Mateo County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in San Mateo County, CA
How much do homes in San Mateo County, CA cost?
Median Sold Price
$1,609,795
$1,023/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in San Mateo County have sold for 4.5% more than they did a year ago.
Summary: The median home sold price in San Mateo County was $1,609,795 in May 2024, up 4.5% from last year, and the median price per square foot was $1,023.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $598.2K | $570K | -4.7% |
| 2 Bedrooms | $1.0M | $1.1M | +5.3% |
| 3 Bedrooms | $1.5M | $1.5M | +3.1% |
| 4 Bedrooms | $2.3M | $2.4M | +3.1% |
| 5+ Bedrooms | $3.3M | $3.5M | +4.3% |
Summary: San Mateo County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 4.7%, 2 bedroom homes increased by 5.3%, 3 bedroom homes increased by 3.1%, 4 bedroom homes increased by 3.1%, and 5+ bedroom homes increased by 4.3%.
Median Sold Price Compared To Nearby Counties
| Santa Clara County | $1.4M | $1.5M | +10.4% |
| San Mateo County | $1.5M | $1.6M | +4.5% |
| San Francisco County | $1.4M | $1.4M | -0.1% |
| Santa Cruz County | $1.1M | $1.1M | -2.5% |
Housing Supply in San Mateo County, CA
How many homes are available in San Mateo County, CA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 1,223 | 1,425 | +16.5% |
Summary: The San Mateo County real estate market had 1,425 homes for sale in May 2024, a 16.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 66 | 76 | +15.2% |
| 2 Bedrooms | 262 | 301 | +14.9% |
| 3 Bedrooms | 408 | 482 | +18.1% |
| 4 Bedrooms | 298 | 348 | +16.8% |
| 5+ Bedrooms | 189 | 218 | +15.3% |
Summary: The San Mateo County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 15.2%, 2 bedroom homes increased by 14.9%, 3 bedroom homes increased by 18.1%, 4 bedroom homes increased by 16.8%, and 5+ bedroom homes increased by 15.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 400 | 451 | +12.8% |
Asking Price vs. Sold Price
98 Homes Were Sold
Under Asking
42 Homes Were Sold
At Asking
298 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in San Mateo County, you could pay more than the asking price. 68% of homes here sold above asking price last month.
Summary: A total of 451 homes were sold or pending in San Mateo County in May 2024, up by 12.8% month-over-month. Of the 438 sold homes, 22% were sold under asking, 10% were sold at asking, and 68% were sold over asking.
Days on Market for San Mateo County, CA
How long does it take to sell a home in San Mateo County, CA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 20 Days | 17 Days | -16.3% |
Summary: Homes in San Mateo County had an average of 17 days on market in May 2024, down by 16.3% compared to last year.
Breakdown of Home Sale Times
364 Homes Were Sold
Under 30 Days
44 Homes Were Sold
In 30 - 90 Days
14 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in San Mateo County are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 451 homes were sold in San Mateo County; 81% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.
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