That was then ~ This is now: San Mateo, CA

The Rebounding Housing Market May Mean Opportunity for Home Sellers in San Mateo Not Seen in 6+ Years

Happy peopleAs 2013 gets underway, Northern California’s housing market is set to continue the steady recovery that began last year. Home sales and the median sale price rose in all of our local communities last year. We’re the talk of the rest of the country and leading the real estate boom.

Foreclosures and short sales continue to decline. The only problem seems to be that many potential sellers don’t realize that things have changed so dramatically since the downturn of the housing market, and they’re missing out on a tremendous opportunity. There’s a severe shortage of homes for sale in many of our areas, which means that homeowners savvy enough to list their home right now are often getting multiple offers – and sometimes at prices we haven’t seen in several years! Available inventory of homes for sale in much of our region is down 50 percent or more just in the past year.

Right now, there are more qualified and eager buyers out there than homes on the market to meet their demand, and, these buyers are fully qualified to buy! With an imbalance between supply and demand, homebuyers have been fiercely competing with each other, and that’s great news for sellers. The California Association of Realtors announced in its November 1, 2012 report that 57 percent of home sales in California received multiple offers, the highest percentage of multiple offers in at least the past 12 years, with each home receiving an average of 4.2 offers, which was up from 3.5 offers in 2011.  In the San Mateo area market the number of homes receiving multiple offers is quite similar to those of the state. This seller’s market is rapidly driving up prices.  According to DataQuick the price appreciation was quite high in the Bay Area, which saw the median price in December spike by 32 percent.

California Association of Realtors Unsold inventory index for existing single-family homes (in months)

 

NorcalGraph2

Source: California Association of Realtors

The same trends that we are seeing here in San Mateo County are occurring in markets across the country, according to the National Association of Realtors. Zillow economist Stan Humphries agrees that tight inventories will push up prices, encouraging more people to list homes. So where does this all leave you? If you’ve been putting off selling your home, you may want to seriously consider getting back into the market now. As the new year gets under way, the pendulum has swung back into a seller’s market. But there’s no guarantee how long that will last.

As qualified buyers are out there looking, prices are climbing once again and there just aren’t enough good home listings to go around. With such strong buyer demand and a shortage of listings, this may be the best time to sell your home. We’re ready to help you get started today! What does this mean for you if you’re thinking of selling? If your home is market ready and it’s and priced right – not too high or too low – you will probably see multiple offers.

We’d love to talk with you about the advantages of selling today.  Give us a call or send us an email. Here’s what’s for sale in San Mateo right now.

See all Real estate in the city of San Mateo.
(all data current as of 4/18/2014)

  1. 3 beds, 3 full baths
    Home size: 3,060 sq ft
    Lot size: 9,100 sqft
    Year built: 1951
    Parking spots: 2
    Broker reciprocity icon
  2. 3 beds, 1 full bath
    Home size: 1,260 sq ft
    Lot size: 7,850 sqft
    Year built: 1952
    Parking spots: 2
    Broker reciprocity icon
  3. 3 beds, 1 full bath
    Home size: 1,180 sq ft
    Lot size: 5,650 sqft
    Year built: 1947
    Parking spots: 1
    Broker reciprocity icon
  4. 3 beds, 2 full, 1 part baths
    Home size: 2,000 sq ft
    Lot size: 10,192 sqft
    Year built: 1953
    Parking spots: 2
    Broker reciprocity icon
  5. 1 bed, 1 full bath
    Home size: 800 sq ft
    Lot size: 1.98 ac
    Year built: 1988
    Parking spots: 1
    Broker reciprocity icon
  6. 4 beds, 2 full, 1 part baths
    Home size: 2,840 sq ft
    Lot size: 9,600 sqft
    Year built: 1923
    Parking spots: 2
    Broker reciprocity icon
  7. 2 beds, 2 full baths
    Home size: 1,252 sq ft
    Lot size: 2.81 ac
    Year built: 1982
    Parking spots: 1
    Broker reciprocity icon
  8. 3 beds, 2 full, 1 part baths
    Home size: 1,780 sq ft
    Lot size: 2,643 sqft
    Year built: 1988
    Parking spots: 2
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  9. 4 beds, 3 full baths
    Home size: 2,610 sq ft
    Lot size: 6,000 sqft
    Year built: 1946
    Parking spots: 2
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  10. 3 beds, 2 full, 1 part baths
    Home size: 2,140 sq ft
    Lot size: 7,560 sqft
    Year built: 1958
    Parking spots: 2
    Broker reciprocity icon

Listing information deemed reliable but not guaranteed. Read full disclaimer.

 

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The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of the MLSListings™ MLS system. All real estate listings in the MLSListings MLS system are marked with the MLSListings Internet Data Exchange icon (a stylized house inside a circle), and detailed information about them includes the names of the listing brokers and listing agents.

 

Listing information is deemed reliable, but not guaranteed. Listings last updated 4/18/14 12:50 AM PDT.

Copyright 2014 MLSListings Inc. All rights reserved.

This IDX solution is (c) Diverse Solutions 2014.