San Mateo County Citywise Homes Sales
Number of homes sold was analyzed for 16 cities.
- Each City except Burlingame saw a drop or equal in volume or equal compared to corresponding period in Jan 2014.
- Each City also saw a drop or equal in volume in Jan 2015 compared to Dec 2014.
- On the flip side Burlingame saw an increase or equal in volume in Jan 2015 compared to Jan 2014
- Total homes sold in Jan 2014 was 349, Dec 2014 was 418 and Jan 2015 was 220.
- 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 Jan 2015.
- The situation was similar in Jan 2014 with 11 out of 15 Cities having sales over asking.
- Average SP/LP % ( Sales Price/List Price %) in Jan 2014 was 102.087% and average SP/LP% in Jan 2015 was 101.00%.
- 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 Jan 2014.
- Listings in Portola Valley (45) took 50 or less days to sell .
- Listings in 4 cities of Atherton (179), Hillsborough (170), La Honda (120), and Woodside (162) took 100 or more days to sell.
- All other cities fell between an average between 51-99 days.
- The average listing days last Jan 2014 was 84 Days. This moved down to 101 Days in Jan 2015.
San Mateo County Citywise Average Prices
- Citywise Average sales price was analysed for 15 cities in San Mateo county for last 1 year.
- Listings in 12 cities saw a price increase in Jan 2015 compared to last Jan 2014.
- However, all cities except Foster City, Menlo Park, Redwood City, San Carlo and South San Francisco saw small price “cool offs”compared to previous month of Dec 2014.
- Average price in Jan 2014 was $1,265,230. Average price in Jan 2015 was significantly higher at $1,514,820.