San Mateo County Market Update November 2024

Demand Math: Why a Realtor's first-hand knowledge always knows the market best

While the national housing market is experiencing a significant slowdown, with just 2.5% of homes changing hands in the first eight months of 2024, the San Mateo County market presents a unique and more optimistic picture.

A National Perspective

The national housing market has been grappling with a toxic combination of record-high home prices and elevated mortgage rates, creating one of the most unaffordable housing markets in a generation. This has led to a dramatic decline in home sales and a significant increase in days on market.

A Local Perspective

In contrast, the San Mateo County housing market has shown remarkable resilience. Despite the national downturn, homes in the area continue to sell, often above asking price, and in relatively short periods.

A prime example of this is the recent sale of 768 Gull in Foster City. Listed on October 17th and pending on October 25th, this property attracted multiple offers within days. This swift transaction is a testament to the continued demand for well-priced, well-located properties in the area. Several factors contribute to the unique dynamics of the San Mateo County housing market including:

Strong Job Market: The region's robust tech industry and other thriving sectors attract high-earning professionals.

Desirable Lifestyle: A combination of stunning natural beauty, excellent schools, and a vibrant community.

Limited Inventory: A shortage of available homes, particularly in desirable neighborhoods.

While the market may slow down during certain seasons, particularly in the winter months, well-prepared sellers can still achieve success. By understanding the seasonal trends and adjusting their strategy accordingly, sellers can optimize their chances of a successful sale. A seasoned local agent can provide invaluable insights, helping sellers to maximize their property's potential and achieve optimal results.

The 768 Gull Success Story

The rapid transaction of 768 Gull can be attributed to several factors, including:

Prime Location: Proximity to schools, parks, and the Bay Trail

Ideal Size and Layout: A well-proportioned home with a functional floor plan

Abundant Natural Light: A sought-after feature

However, it wasn't just the property itself; it was the strategic approach to the listing. Rumana Jabeen's expertise in pricing, marketing, and negotiation played a crucial role in attracting qualified buyers and securing a swift sale.

With Rumana Jabeen, there's no such thing as a slow market. Her proven approach, the "Four Wells," ensures that your home is:

Well-Priced: Data-driven insights to set the optimal listing price.

Well-Prepared: Professional staging and expert advice to enhance your home's appeal.

Well-Marketed: A comprehensive marketing strategy to attract qualified buyers.

Well-Presented: Stunning visuals and compelling narratives to captivate potential buyers.

By following these principles, Rumana has consistently achieved exceptional results for her clients, even in challenging market conditions.

Conclusion

While both the Bay Area and the national housing market are facing challenges, the San Mateo County market remains resilient. By understanding the local dynamics and leveraging the expertise of a skilled agent like Rumana Jabeen, sellers can continue to achieve success.

Don't let the national market slow down your home sale. Contact Rumana Jabeen today to take advantage of the strong San Mateo County market.