The largest city in our immediate area is San Mateo with almost 100,000 people living there.  It has a large spread of housing and the prices run from entry level in the high $500,000’s to almost $3 million.  Obviously what you get for the smaller amount is far different than the larger amount and so is the neighborhood. San Mateo has four zips, three of them will be covered here.

Altos Research breaks down San Mateo into zip codes as well as providing a city overview.  Let’s talk about the city first, and then I’ll break
the data down to zip codes.  Last week there were 150 homes for sale and the average time on the market was 57 days with half of these
listings coming to market within the past month.  That’s an improvement from recent weeks.  Overall the city is considered a Warm Seller’s market with 10 homes sold and 13 listed.  Eight of the thirteen new listings were in the most expensive areas of San Mateo.  Over the past 90 days prices have dropped a bit across all price levels.  Generally San Mateo has not seen much go intoforeclosure.

94401

This is the area that runs from the Burlingame border east to the bay, south through south Shoreview and east to downtown and north up

Zip 94401

along El Camino back to Burlingame.  Generally it covers entry level property with a median price last week of $699,000 but does incorporate a portion of San Mateo Park with the most expensive homes in San Mateo.  Prices have been trending down in this area and time on the market has been a little over two months, 63 days. Two months on market makes it a nornal market but Altos Research is saying this zip code is a Cool Buyer’s market.  This is the zip code that is beginning to show up with Short Sales.  The homes are small and modest.  They were built either in the 1930’s, 1940’s or 1950’s.  Lots are generally around 5000 sq. feet.  Two homes were sold in this zip last week.

94402

Zip 94402

This is the area that abutts Hillsborough on the north, 280 on the west, south to Highway 92 and back north along El Camino to include the other portion of San Mateo Park.  The median pricefor a home last week was $1,193,000.  The most expensive home onthe market in this zip code was $2,900,000.  The average days onthe market is 56.  there were 28 homes for sale and 5 sold. This is a highly sought after area in San Mateo with top schools and generally old stately homes on bigger lots and wide tree lined
streets.  Because of their price, generally well above $1 million,
these homes currently have a larger base of potential buyers than other
parts of the city.

94403

Welcome to the southern portion of San Mateo, south from Highway 92 to the Belmont city line,  east across 101 into

Zip 94403

Los Prados and Parkside areas and back across 101 at 92.  The homes range from small entry level homes to larger one in the hills.  The median price last week was $839,250 for a 3 bedroom, 2 bath home around 1400 sq. feet but they range of prices is broad from as low as $619,000 for a small 2 bedroom home up to $1,388,000.  It is still considered a Warm Seller’s market in this zip code.  The range of schools is broade with some good schools in the hills and weak schools in other portions of the zip code.  Prices have held  steady here for many months and we are even seeing prices increase in the hills.

94404

This zip is shared with Foster City and will be covered tomorrow under Foster City.