San Mateo Real Estate Newsletter

Since there has not been much change in the past couple of months, I’m going to keep it short this time around.	The sale Price for all San Mateo County Single-Family Homes vs. the Dow Jones Index monthly average

SAN MATEO COUNTY
INVENTORY , CLOSED SALES, NEW LISTINGS
& DAYS ON MARKET

For almost the past year, average single home prices in San Mateo County have been bouncing around $900,000 with a plus or minus $50,000 range. If this price level can be sustained, then it will only represent an average price drop of 25% compared to the highs of 2007.

January 2010’s average price was only $840K, but this represents the typical seasonal drop in home prices this time of year.

The past few months have been fairly decent in terns of the number of homes sold. While not stellar, this January still outperformed this same month over the past couple of years. Meantime, new inventory was fairly inline with what is to be expected for the season. All in all, good signs for the stabilization of the real estate market.

	No. of	Avg. Sale Price	Avg
Year	Closed Sales	Avg. Sale Price	DOM	New Listings
1998	5,746	$520,901	40	7,830
1999	6,434	$620,436	45	7,273
2000	5,659	$838,782	29	6,944
2001	4,740	$791,809	46	8,033
2002	5,951	$787,021	44	8,211
2003	6,454	$805,867	46	8,471
2004	6,564	$957,347	33	7,756
2005	5,877	$1,097,324	32	7,998
2006	5,006	$1,126,572	43	7,723
2007	4,172	$1,209,838	51	7,452
2008	3,876	$1,038,395	71	7,550
2009	4,068	$876,820	72	6,496
Jan-10		$840,235

	Current Inventory	Closed Sales	New Listings	Sales YTD	Listings YTD
This Past Month	1,149	229	485	229	485
Decade Average	946	278	515	278	515
% Diff	21%	-18%	-6%	-18%	-6%

SAN MATEO COUNTY Graph 1 plots monthly Inventories, Closed Sales and New Listings. This graph is an excellent visual for determining the strength of the real estate market. The graph plots how over the past few years Inventories had been rising as New Listings remained fairly stable and Closed Sales keep decreasing. However, 2009 was a turn around year for inventory decreasing.	Graph 1—Monthly Inventories, Sales and New Listings for Single-Family Homes in San Mateo County

SAN MATEO COUNTY Graph 2 looks at the same type of data as Graph 1, but it compares it from a seasonable point of view. It compares the numbers for the identical month over the past decade.	Graph 2—Inventories, Sales and New Listings for Single-Family Homes in San Mateo County for a given month

SAN MATEO COUNTY Graph 3 is a cumulative look at Year-to-Date statistics for Closed Sales vs. New Listings.	Graph 3—Total Single-Family Homes Sold & New Listings Year to Date in San Mateo County

SAN CARLOS
INVENTORY, CLOSED SALES, NEW LISTINGS

San Carlos saw very dismal January closings (only three homes sold) despite decent inventory numbers. The average home price spiked up, but this is meaningless due to so few data points available to create a relevant average.

Average Monthly Stats for Single Family Homes in San Carlos

	Current Inventory	Closed Sales	New Listings	Sales YTD	New Listing YTD
This Past Month	42	3	22	3	22
Decade Average	42	16	30	16	30
% Diff	-1%	-81%	-26%	-81%	-26%

Average Monthly price for Single Family Homes in San Carlos

Monthly Inventories, Sales and New Listings for Single-Family Homes in San Carlos

San CArlos real estate inventory history

Month over Month comparison of Inventories, Sales and New Listings in San Carlos	Year to Date Closed Sales and Listing in San Carlos

REDWOOD CITY
INVENTORY, CLOSED SALES, NEW LISTINGS

Redwood City’s closed January sales were great compared to last year (30 homes v. 12). Inventory is a little high for this time of year and it’s pretty stale. Active homes have been on the market an average of 103 days. Many have been on 6 or more months. This continues to plague buyers as I often hear complaints that there’s no inventory, the truth is that there is inventory, just few people are interested in what there is out there.

Average Monthly Stats for Single Family Homes in Redwood City