How’s the Market in San Mateo – 2.4.11?

San MateoSan Mateo is the largest city in our County with over 90,000 people and of course that means the most houses.  Hold your hats here,  we’re talking about over 25,000 homes just in San Mateo and they offer the greatest spread of prices, too.  From entry level condos and houses to homes as grand any many in Hillsborough.  The chart above shows price verses inventory (number of homes for sale) for all of 2010 and January of 2011.  There’s a tiny uptick in price in January, which is to be expected since the end of the year is always when prices decline significantly because the homes for sale during the holidays are the ones that must be sold for a multiple of reasons.

Since I’m starting a monthly trending of what’s happening in the city for both houses and condos, here’s the January snapshot.  I can drill down to neighborhoods for anyone who wants more information but you’ll have to ask me for that.  The average price for a home in San Mateo is $761,599 and for a condo or townhouse is $465,421.

SM marketsHere is what took place from the first of the year.  There were 109 single family homes for sale and 126 condos or townhouses.  We saw 81 homes and 49 condos or townhouses go into contract and becoming pending sale.  Only 9 homes closed escrow in January and 1 condo or townhouse closed.  This isn’t a worrisome amount because they were under contract at the end of 2010, the slowest period of real estate in the year.

Here’s a snapshot of what’s for sale in San Mateo now.  First will be homes then will be condos.  If  you see anything you like give us a call at 650-696-2820 for a showing,.

[idx-listings city=”San Mateo” propertytypes=”275″ orderby=”DateAdded” orderdir=”DESC” count=”15″]

[idx-listings city=”San Mateo” propertytypes=”328,329″ orderby=”DateAdded” orderdir=”DESC” count=”15″]

Moving? Know the value of your home …