October 2020 Real Estate Market Update

Here is your San Mateo County market update for the beginning of October, 2020. This week we are focusing on the contracting differences between buyer and seller habits for Condoominiums/Townhomes versus Single Family Residences:

SINGLE FAMILY RESIDENCE LIST TO SALES PRICES

  • During Covid-19 & Shelter in Place, Single Family Residences sold on average 101%-102% above list price so far.
  • Days on Market for Single Family Residenes is currently hovering around 23 days.
condos/townhomes LIST TO SALES PRICES

  • During Covid-19 & Shelter in Place, Condos/Townhomes sold on average 99%-101% above list price so far.
  • Days on Market for Single Family Residenes is currently hovering around 21 days.
  • There is currently a sharper decline for list to sales rpice when compared to single family residences

 

SINGLE FAMILY RESIDENCEs Actives vs sold

  • Single Family Residences inventory has gone up consistently minus the beginning of September.
  • 59.5% of single family residences have sold during covid-19/SIP
condos/townhomes ACTIVES VS SOLD

  • Condominiums/Townhomes inventory has gone up consistently minus the beginning of October.
  • 42.0% of condos/townhomes have sold during covid-19/SIP
SINGLE FAMILY RESIDENCES prices

  • In 2019, the average price for a single famly residence is $1,921,256.
  • In 2020, the average price for a single family residence is $2,143,978.
  • Average prices for SFRs have gone up 11.5%
condominium/townhome PRICES

  • In 2019, the average price for a condos/townhomes is $1,000,733.
  • In 2020, the average price for a condos/townhomes is $998,804.
  • Average prices for Condos/TH have gone down 0.002%
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