Is San Mateo, CA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing San Mateo is a seller's market

Buyer's
Market

Difference Since November 2021

Since last year, San Mateo has remained a Seller's Market.

Key Takeaway

San Mateo is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

How much do homes in San Mateo, CA cost?

Median Sold Price

$1,499,296

$1,021/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2021

+$33,974(+2.3%)

Key Takeaway

Homes in San Mateo have sold for 2.3% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSNov 2021Nov 2022%
1 $635K$615K
-3.1%
2 $1.1M$1.1M
+3.9%
3 $1.6M$1.7M
+1.6%
4 $2.1M$2.3M
+10.5%
5+ $2.6M$2.9M
+11.5%

Median Sold Price Compared To Nearby Cities

Hillsborough
+16.0%
Foster City
+14.4%
Belmont
+11.3%
Burlingame
+5.8%
San Mateo
+2.3%

How many homes are available in San Mateo, CA?

Number of Homes For Sale

Oct 2022Nov 2022%
199185-7.0%

Homes For Sale By Bedroom Count

# BEDSOct 2022Nov 2022%
1 1918
-5.3%
2 6359
-6.3%
3 7975
-5.1%
4 2927
-6.9%
5+ 96
-33.3%

Number of Homes Sold

Oct 2022Nov 2022%
5052+4.0%

Asking Price vs. Sold Price

30 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

17 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in San Mateo, you may be able to get a good deal. 58.8% of homes here sold below asking price last month.

Average Sale Time

Nov 2021Nov 2022%
16 Days31 Days+84.7%

Breakdown of Home Sale Times

35 Homes Were Sold
Under 30 Days

12 Homes Were Sold
In 30 - 90 Days

5 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in San Mateo are selling fast, if you're buying plan to act quickly.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About San Mateo, CA

San Mateo, CA has 185 homes on the market. The number of listings in San Mateo, CA decreased by 7% between October 2022 and November 2022. The median list price of listings available in November 2022 was $1,499,296, while the average time on the real estate market was 31 days. From October 2022 through November 2022, the following changes in listing prices were observed in this housing market: the cost of 1 bedroom properties went down by 3.1%, prices of 2 bedrooms properties went up by 3.9%, the cost of 3 bedrooms properties went up by 1.6%, the cost of 4 bedrooms properties went up by 10.5%, prices of 5 bedrooms properties increased by 11.5%. The following changes in the number of homes for sale were observed in this housing market: 1 bedroom homes became 5.3% less available, volume of 2 bedrooms homes went down by 6.3%, the quantity of 3 bedrooms homes went down by 5.1%, 4 bedrooms homes became 6.9% less available, volume of 5 bedrooms homes went down by 33.3%. In November 2022, from all listings sold in San Mateo, CA there were more than 17 sold above asking price, over 30 sold below and more than 4 were sold right at the asked price.

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