San Mateo County Market Update-November 2022

What’s in the San Mateo County data? 

In San Mateo, the median sold price for single-family homes in October decreased month-over-month to $1.8 million. The number of homes sold decreased to 283, and the number of new listings decreased to 370. The number of condo & townhomes sales increased month-over-month to $931 thousand with 97 units sold and 92 new listings. Buyers are also still being aggressive with their offer prices, with the median offer price continuing to be about 100%. Only about 6% of all homes for sale were actually completed, due to supply constraints adding to the scarcity of home supply. Meanwhile, the demand for homes continues to rise, leading to the rise in sales prices, and creating an imbalance between supply and demand. 

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This post was written by Rumana Jabeen

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