$10,000 Closing Credit*
$1,998,000
3,200 SqFt
Alex Sobieski, Listing Office: Redfin
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 November 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
$1,656,900
$1,041/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$106,338(+6.9%)
Key Takeaway
Homes in San Mateo County have sold for 6.9% more than they did a year ago.
Summary: The median home sold price in San Mateo County was $1,656,900 in November 2024, up 6.9% from last year, and the median price per square foot was $1,041.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $582K | $565.4K | -2.8% |
| 2 Bedrooms | $1.0M | $1.1M | +2.4% |
| 3 Bedrooms | $1.5M | $1.6M | +6.4% |
| 4 Bedrooms | $2.3M | $2.4M | +8.4% |
| 5+ Bedrooms | $3.6M | $3.6M | -1.9% |
Summary: San Mateo County housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 2.8%, 2 bedroom homes increased by 2.4%, 3 bedroom homes increased by 6.4%, 4 bedroom homes increased by 8.4%, and 5+ bedroom homes decreased by 1.9%.
Median Sold Price Compared To Nearby Counties
| Santa Clara County | $1.4M | $1.5M | +10.1% |
| San Mateo County | $1.5M | $1.6M | +6.9% |
| San Francisco County | $1.3M | $1.4M | +1.9% |
| Santa Cruz County | $1.1M | $1.1M | +1.9% |
Housing Supply in San Mateo County, CA
How many homes are available in San Mateo County, CA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 1,353 | 1,104 | -18.4% |
Summary: The San Mateo County real estate market had 1,104 homes for sale in November 2024, a 18.4% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 72 | 63 | -12.5% |
| 2 Bedrooms | 290 | 256 | -11.7% |
| 3 Bedrooms | 504 | 380 | -24.6% |
| 4 Bedrooms | 299 | 249 | -16.7% |
| 5+ Bedrooms | 188 | 156 | -17.0% |
Summary: The San Mateo County housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 12.5%, 2 bedroom homes decreased by 11.7%, 3 bedroom homes decreased by 24.6%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes decreased by 17%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 439 | 378 | -13.9% |
Asking Price vs. Sold Price
118 Homes Were Sold
Under Asking
29 Homes Were Sold
At Asking
207 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. 58.5% of homes here sold above asking price last month.
Summary: A total of 378 homes were sold or pending in San Mateo County in November 2024, down by 13.9% month-over-month. Of the 354 sold homes, 33% were sold under asking, 8% were sold at asking, and 58% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 29 Days | 33 Days | +14.1% |
Summary: Homes in San Mateo County had an average of 33 days on market in Nov 2024, up by 14.1% compared to last year.
Breakdown of Home Sale Times
266 Homes Were Sold
Under 30 Days
83 Homes Were Sold
In 30 - 90 Days
27 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 November 2024, 378 homes were sold in San Mateo County; 70% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.
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