San Mateo County Real Estate Market Update- April 2022
April 22, 2022
San Mateo County’s median sold price for single-family homes increased month to month to $2.3 million, hitting an all-time high. The number of homes sold was 355 while the number of new listings was 714. The number of condo & townhouses sales decreased this month to $980,000 with 272 new listings and 137 homes sold.
Buyers are also still being aggressive with their offer prices, with the median offer price continuing to be above 100%. This time of year, the demand (buyers) is higher than the supply (sellers) making the market more competitive.
While temperatures start to rise, the market will begin to surge. With higher inflation, interest rates may rise, creating countervailing downward pressure on home prices due to the resulting higher monthly payments.
Tags: Market Conditions, Peninsula Homes, Real Estate Market Report, Real Estate Market Trends, San Mateo County
This post was written by Rumana Jabeen