San Mateo County Real Estate Market Update – March 2022
In February, San Mateo County’s median sold price for single-family homes increased to $1,962,500.
That is up 12.1% compared to the same time last year.
The number of homes sold increased marginally compared to the previous month to 220,
which was a 23.9% decrease year-over-year. The number of new listings increased month-over-month to 450, which was a 4.1% decrease year-over-year.
Inventory on the market increased month-over-month to 1.5 months.
Buyers are also still being aggressive with their offer prices, with the median offer price at
115.2% of the list price in February.
In the condo/loft/TIC market, the median sales price increased to $1,037,500, up 20.9%
year-over-year.
The number of condo/loft/TIC sales was down 17.2% year-over-year. Condo/loft/TIC
inventory increased slightly month-over-month at 1.4 months.
With higher inflation, interest rates may rise, creating countervailing downward pressure on
home prices due to the resulting higher monthly payments.
