The City of San Mateo is the largest housing housing market in our immediate area. With a population just under 100,000 (or more once the census is completed) there is a wide variety of houses to choose from. It offers a good selection of entry level homes, and has one of the prettiest areas with executive homes in the County, San Mateo Park.

Since San Mateo is a large and diverse city, there are options in buying a home besides a house within the city. Condos and townhouses are sprinkled around the city allowing for one to buy something better fitting their budget and needs. The condo and townhouse market is pretty vibrant in San Mateo.

I just ran a report to see how the market has been in San Mateo for single family and condo/townhouses this past year. San Mateo has about 90,000 people living in it making it the second largest city in the county. Prices run from entry level condos and houses into many millions of dollars for a huge house.

Last week San Mateo had 157 single family houses for sale and we are seeing a real market recovery here. It’s still a Buyer’s Market but it’s no where near what we were seeing months ago. The lowest priced property was $339,000 and the highest $2,295,000. Listings are staying on the market about 62 days or 2 months, which is a normal, I repeat, normal market.

What does this mean for you? If you are a first time buyer that $8000 tax credit can help off-set your closing costs. If you are a current home owner in a house that is squeezed for space, you can get a tax credit of $6500 to move into a larger house. Everyone wins here if you don’t wait too long to do this.