The City of San Mateo is the largest 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. Prices have come down significantly in some parts of the city, and while they’ve dropped some in other areas, they are now moving upwards again. Those areas include The Park, Baywood, Baywood Knolls and Aragon, where the largest homes are in the city. These areas also garner significantly higher prices then other parts of the city.
San Mateo is a great place to live with a large downtown that draws people at all hours. The Central Park sits at the edge of downtown and has one of the largest Japanese Gardens in the State as well as many areas for play and leisure.
[altos_flash_chart st=”CA” cid=”57″ zid=”2897612″ rt=”sf” ra=”a” q=”a” right=”median_inventory” left=”median_price” mini=”none” width=”600″ height=”500″ /]
This chart shows what’s happening with the single family housing market today versus 4 years ago. Click on the numbers at the left of the chart to see the historical data, which is really interesting. This chart clearly shows how little inventory in housing we have right now. This is why we are seeing multiple offers in certain price points. We think there will be many more housing coming on the market this spring since there must be a lot of people out there unable to refinance their ARMs that are coming due later this year. If and when this happens expect to see prices remain flat. Right now, although it is a Buyer’s Market, that can’t last long without inventory.