Is San Mateo, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, San Mateo has remained a Seller's Market.
Housing Prices in San Mateo, CA
How much do homes in San Mateo, CA cost?
Median Sold Price
$1,519,097
$1,013/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in San Mateo was $1,519,097 in May 2024, up 4.5% from last year, and the median price per square foot was $1,013.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $600K | $591.2K | -1.5% |
2 Bedrooms | $1.0M | $1.1M | +12.2% |
3 Bedrooms | $1.6M | $1.6M | +4.6% |
4 Bedrooms | $2.2M | $2.4M | +7.1% |
5+ Bedrooms | $2.7M | $2.6M | -4.0% |
Summary: San Mateo housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.5%, 2 bedroom homes increased by 12.2%, 3 bedroom homes increased by 4.6%, 4 bedroom homes increased by 7.1%, and 5+ bedroom homes decreased by 4%.
Median Sold Price Compared To Nearby Cities
Foster City | $1.5M | $1.7M | +9.5% |
Belmont | $2.0M | $2.1M | +5.8% |
San Mateo | $1.4M | $1.5M | +4.5% |
Burlingame | $2.4M | $2.4M | +0.8% |
Hillsborough | $5.3M | $4.9M | -8.8% |
Housing Supply in San Mateo, CA
How many homes are available in San Mateo, CA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
212 | 231 | +9.0% |
Summary: The San Mateo real estate market had 231 homes for sale in May 2024, a 9.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 23 | 25 | +8.7% |
2 Bedrooms | 82 | 83 | +1.2% |
3 Bedrooms | 63 | 77 | +22.2% |
4 Bedrooms | 30 | 35 | +16.7% |
5+ Bedrooms | 14 | 11 | -21.4% |
Summary: The San Mateo housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 8.7%, 2 bedroom homes increased by 1.2%, 3 bedroom homes increased by 22.2%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes decreased by 21.4%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
76 | 83 | +9.2% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
12 Homes Were Sold
At Asking
56 Homes Were Sold
Over Asking
Summary: A total of 83 homes were sold or pending in San Mateo in May 2024, up by 9.2% month-over-month. Of the 79 sold homes, 14% were sold under asking, 15% were sold at asking, and 71% were sold over asking.
Days on Market for San Mateo, CA
How long does it take to sell a home in San Mateo, CA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
13 Days | 11 Days | -10.9% |
Summary: Homes in San Mateo had an average of 11 days on market in May 2024, down by 10.9% compared to last year.
Breakdown of Home Sale Times
78 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 83 homes were sold in San Mateo; 94% of homes were sold within 30 days, 2% of homes were sold within 30 to 90 days, and 1% of homes were sold over 90 days.