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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing San Mateo County is a seller's market

Buyer's
Market

Difference Since November 2021

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

Key Takeaway

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

How much do homes in San Mateo County, CA cost?

Median Sold Price

$1,672,185

$1,061/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2021

+$12,588(+0.8%)

Key Takeaway

Homes in San Mateo County have sold for 0.8% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSNov 2021Nov 2022%
1 $624K$615K
-1.4%
2 $1.1M$1.1M
+1.2%
3 $1.6M$1.6M
0.5%
4 $2.4M$2.7M
+8.5%
5+ $3.6M$3.8M
+4.8%

Median Sold Price Compared To Nearby Counties

Santa Cruz County
+14.5%
Santa Clara County
+10.1%
San Mateo County
+0.8%

How many homes are available in San Mateo County, CA?

Number of Homes For Sale

Oct 2022Nov 2022%
1,1601,024-11.7%

Homes For Sale By Bedroom Count

# BEDSOct 2022Nov 2022%
1 5350
-5.7%
2 238208
-12.6%
3 436372
-14.7%
4 300273
-9.0%
5+ 133121
-9.0%

Number of Homes Sold

Oct 2022Nov 2022%
340298-12.4%

Asking Price vs. Sold Price

166 Homes Were Sold
Under Asking

39 Homes Were Sold
At Asking

84 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in San Mateo County, you may be able to get a good deal. 57.4% of homes here sold below asking price last month.

Average Sale Time

Nov 2021Nov 2022%
17 Days31 Days+82.2%

Breakdown of Home Sale Times

181 Homes Were Sold
Under 30 Days

99 Homes Were Sold
In 30 - 90 Days

18 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in San Mateo County 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 County, CA

San Mateo County, CA has 1,024 homes for sale to choose from. The number of homes for sale in San Mateo County, CA decreased by 11.7% between October 2022 and November 2022. While the average time on the market in November 2022 was 31 days, the median list price was $1,672,185. Between October 2022 and November 2022, listing prices of homes in this real estate market have seen the following changes: 1 bedroom properties prices decreased by 1.4%, the cost of 2 bedrooms properties went up by 1.2%, prices of 3 bedrooms properties went up by 0.5%, prices of 4 bedrooms properties increased by 8.5%, prices of 5 bedrooms properties went up by 4.8%. Volume of homes for sale changed: the quantity of 1 bedroom homes went down by 5.7%, volume of 2 bedrooms homes went down by 12.6%, volume of 3 bedrooms homes went down by 14.7%, 4 bedrooms homes became 9% less available, 5 bedrooms homes inventory decreased by 9%. While more than 84 listings in San Mateo County, CA in November 2022 were sold above asking price, there were more than 39 listings sold at asking price, and more than 166 were sold below.

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