April 21, 2021
Sales data from March reflects a small shift in the price trends we’ve seen recently. For single-family homes, prices have continued the rise that started in November 2019. Price acceleration hit its peak in October 2020 at a whopping 18% year-over-year and is now sitting at 10%, which is still objectively high. Interestingly, condo and townhome prices have been mixed over the same period. Though...
January 21, 2021
The San Mateo County real estate market ended the year with sale prices for single-family homes (SFR) up, and condos/townhouses down, +9.2% and -2.9% respectively. This isn’t unexpected. When real estate markets shift or face uncertainty, condos and townhouses will lose their value faster, and recover slower, than single-family homes. Demand is still very strong, with SFR inventory down 20% from last year’s already low...
September 14, 2020
Are you looking to buy or sell your home? Please see the September market update for each city in the Peninsula. Let me know if you want to discuss. Peninsula Home Updates
July 15, 2020
The San Mateo County June sales data shows the tale of two markets. The market for single-family homes is heating up. The cooling effect we saw during the peak of shelter-in-place is waning. Prices are rising again, albeit at a slower rate than earlier this year. Inventory is decreasing which makes it a more competitive market for buyers. Agents are reporting multiple offers and properties...
April 23, 2020
MLSListings Silicon Valley and Coastal Regions Single-Family Homes Market Overview Positive Momentum Curtailed by Shelter-in-Place Prior to the March 16 shelter-in-place (SIP) order, the first half of March was looking quite promising in terms of sales and prices. In fact, 3 counties (Monterey, San Mateo and Santa Clara) ended March with higher median prices than a year ago despite the SIP. Also telling was that...
April 15, 2020
San Mateo County Real Estate Market Update – April 2020 The county-wide shelter in place order that took effect in mid-March ground most real estate activity to a halt. Our local MLS shut down virtually all activity – no open houses, no brokers tours, no private showings. These restrictions eased slightly with the recent ruling by the State of California that residential real estate is...
March 23, 2020
MLSListings Silicon Valley and Coastal Regions Single-Family Homes Market Overview Inventory and Median Days on Market Drop Again Inventory was again down year-over-year across all five MLSListings counties, maintaining a trend from the end of 2019. Inventory fell the least in Santa Cruz (12% less than last year) and decreased the most in Santa Clara (37% less than last February). The market continued to move...
March 4, 2020
Are you looking to buy or sell your home? Please see the March market update for each city in the Peninsula. Let me know if you want to discuss. Peninsula Home Updates
February 19, 2020
MLSListings Silicon Valley and Coastal Regions Single-Family Homes Market Overview 2020 Begins with Inventory, New Listings Down Continuing a trend we saw at the end of 2019, the new year began with less inventory in every MLSListings county year-over-year. Compounding the low inventory was reduced new listings, which were also down across the board compared to 2019. The tight supply of houses led to an...
February 17, 2020
San Mateo County Real Estate Market Update – February 2020 The effects of tight inventory continue to dominate our San Mateo County real estate market, with fewer home sales last month than at any time in the past three years. Buyer motivation remains strong, and properties that are correctly priced and well-presented are getting a greater number of offers than we’ve seen for a while....