Is San Mateo County, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
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.
Housing Prices in San Mateo County, CA
How much do homes in San Mateo County, CA cost?
Median Sold Price
$1,576,617
$1,007/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in San Mateo County have sold for 1.2% less than they did a year ago.
Summary: The median home sold price in San Mateo County was $1,576,617 in March 2024, down 1.2% from last year, and the median price per square foot was $1,007.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $600K | $573.5K | -4.4% |
| 2 Bedrooms | $1.1M | $1.0M | -1.0% |
| 3 Bedrooms | $1.5M | $1.5M | -2.4% |
| 4 Bedrooms | $2.4M | $2.3M | -3.1% |
| 5+ Bedrooms | $3.6M | $3.4M | -4.2% |
Summary: San Mateo County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 4.4%, 2 bedroom homes decreased by 1%, 3 bedroom homes decreased by 2.4%, 4 bedroom homes decreased by 3.1%, and 5+ bedroom homes decreased by 4.2%.
Median Sold Price Compared To Nearby Counties
| Santa Clara County | $1.4M | $1.5M | +4.4% |
| San Mateo County | $1.5M | $1.5M | -1.2% |
| Santa Cruz County | $1.1M | $1.1M | -3.1% |
| San Francisco County | $1.4M | $1.3M | -3.9% |
Housing Supply in San Mateo County, CA
How many homes are available in San Mateo County, CA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 903 | 1,098 | +21.6% |
Summary: The San Mateo County real estate market had 1,098 homes for sale in March 2024, a 21.6% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 55 | 66 | +20.0% |
| 2 Bedrooms | 211 | 240 | +13.7% |
| 3 Bedrooms | 315 | 378 | +20.0% |
| 4 Bedrooms | 202 | 252 | +24.8% |
| 5+ Bedrooms | 120 | 162 | +35.0% |
Summary: The San Mateo County housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 20%, 2 bedroom homes increased by 13.7%, 3 bedroom homes increased by 20%, 4 bedroom homes increased by 24.8%, and 5+ bedroom homes increased by 35%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 268 | 331 | +23.5% |
Asking Price vs. Sold Price
81 Homes Were Sold
Under Asking
36 Homes Were Sold
At Asking
203 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in San Mateo County, you could pay more than the asking price. 63.4% of homes here sold above asking price last month.
Summary: A total of 331 homes were sold or pending in San Mateo County in March 2024, up by 23.5% month-over-month. Of the 320 sold homes, 25% were sold under asking, 11% were sold at asking, and 63% were sold over asking.
Days on Market for San Mateo County, CA
How long does it take to sell a home in San Mateo County, CA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 29 Days | 27 Days | -5.3% |
Summary: Homes in San Mateo County had an average of 27 days on market in Mar 2024, down by 5.3% compared to last year.
Breakdown of Home Sale Times
245 Homes Were Sold
Under 30 Days
36 Homes Were Sold
In 30 - 90 Days
19 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in San Mateo County are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 331 homes were sold in San Mateo County; 74% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
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