Is Downtown San Mateo, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Downtown San Mateo was a Seller's Market.
Key Takeaway
Downtown San Mateo is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Downtown San Mateo, CA
How much do homes in Downtown San Mateo, CA cost?
Median Sold Price
$802,500
$683/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Downtown San Mateo have sold for 15.5% less than they did a year ago.
Summary: The median home sold price in Downtown San Mateo was $802,500 in April 2024, down 15.5% from last year, and the median price per square foot was $683.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $616.2K | $265K | -57.0% |
| 2 Bedrooms | $980K | $802.5K | -18.1% |
| 3 Bedrooms | $1.3M | $1.3M | -3.6% |
| 4 Bedrooms | - | $1.4M | N/A |
| 5+ Bedrooms | $1.8M | $2.6M | +42.5% |
Summary: Downtown San Mateo housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 57%, 2 bedroom homes decreased by 18.1%, 3 bedroom homes decreased by 3.6%, 4 bedroom homes did not change, and 5+ bedroom homes increased by 42.5%.
Housing Supply in Downtown San Mateo, CA
How many homes are available in Downtown San Mateo, CA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 30 | 27 | -10.0% |
Summary: The Downtown San Mateo real estate market had 27 homes for sale in April 2024, a 10.0% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 10 | 11 | +10.0% |
| 2 Bedrooms | 18 | 16 | -11.1% |
| 3 Bedrooms | 1 | 0 | -100.0% |
| 4 Bedrooms | 0 | 0 | 0.0% |
| 5+ Bedrooms | 1 | 0 | -100.0% |
Summary: The Downtown San Mateo housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 10%, 2 bedroom homes decreased by 11.1%, 3 bedroom homes decreased by 100%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 5 | 4 | -20.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Downtown San Mateo, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Downtown San Mateo in April 2024, down by 20.0% month-over-month. Of the 4 sold homes, 50% were sold under asking, 25% were sold at asking, and 25% were sold over asking.
Days on Market for Downtown San Mateo, CA
How long does it take to sell a home in Downtown San Mateo, CA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 45 Days | 6 Days | -85.8% |
Summary: Homes in Downtown San Mateo had an average of 6 days on market in Apr 2024, down by 85.8% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Downtown San Mateo are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 4 homes were sold in Downtown San Mateo; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.