San Mateo County Citywise Homes Sales
Number of homes sold was analyzed for 16 cities.
- Listings in 9 cities saw a drop or equal in volume compared to corresponding period in Feb 2014.
- Listings in 5 cities also saw a drop in volume in Feb 2015 compared to Jan 2015.
- On the flip side Listings in 9 cities saw an increase or equal in volume in Feb 2015 compared to Feb 2014
- Total homes sold in Feb 2014 was 309, Jan 2015 was 245 and Feb 2015 was 269.
- The drop in homes sold is misleading. Since Days on Market and SP/LP% compare favorably with last year,the drop can be reasonably attributed to lack of inventory.
San Mateo County Cities
- Listings in 13 Cities evaluated had sales closings at over asking price in Feb 2015.
- The situation was similar in Feb 2014 with 10 out of 13 Cities having sales over asking.
- Average SP/LP % ( Sales Price/List Price %) in Feb 2014 was 98.23% and average SP/LP% in Feb 2015 was 103.65%.
- Overall: The increase is substantial indicating strong buyer demand coupled with low inventory.
San Mateo Cities Days on Market ( DOM)
- Listings in 16 cities out of 23 cities reviewed took equal or less time to sell, as compared to listings sold in Feb 2014.
- Listings in East Palo Alto (36), Foster City (39), Menlo Park (38), Millbrae (40), Portola Valley (29) Redwood City (32) and San Carlos (37), took 50 or less days to sell .
- Listings in 6 cities of Atherton (93), El Granada (110), Half Moon Bay (126), Hillsborough (97), La Honda (136), and Woodside (85) took 80 or more days to sell.
- All other cities fell between an average between 51-79 days.
- The average listing days last Feb 2014 was 88 Days. This moved down to 67 Days in Feb 2015.
San Mateo County Citywise Average Prices
- Citywise Average sales price was analysed for 13 cities in San Mateo county for last 1 year.
- All City except San Bruno saw a price increase in Feb 2015 compared to last Feb 2014.
- However, Listings in Foster City, Half Moon Bay, Hillsborough, Menlo Park and San Mateo saw small price “cool offs”compared to previous month of Jan 2015.
- Average price in Feb 2014 was $1,176,950. Average price in Feb 2015 was significantly higher at $1,506,961.