South San Mateo Market Update – September 2017

Stuart Yoxsimer

South San Mateo September 2017 Market Update

 

 

Although we’ve been experiencing some
respite from the heat wave, the real estate market is definitely not showing
signs of cooling down.  First, to the
numbers:

 

Housing Statistics
for South San Mateo (Laurelwood, San Mateo Terrace, SM Knolls/Laurel Creek, single
family homes)


 

June 2017

July 2017

August 2017

# of New
Listings

8

5

12

Lowest Priced New Listing

$1,100,000

$1,248,000

$1,100,000

Highest Priced New Listing

$1,648,000

$2,295,000

$2,188,000

Median Price of
New Listings

$1,396,500

$1,650,000

$1,668,500

 

 

 

 

# of Closed
Sales

15

7

5

Average Days on Market (Closed Sales)

30

10

15

Lowest Priced Closed Sale

$1,160,000

$1,485,000

$1,285,000

Highest Priced Closed Sale

$2,250,000

$2,150,000

$2,530,000

Median Closed
Sale Price

$1,675,000

$1,700,000

$1,575,000

Sale Price to
List Price Ratio

109.8%

121%

110.3%



The common theme that keeps coming up
when I talk to people about real estate is the good ole concept of “supply and
demand.” In August, we were “all the way up” to .8 months of inventory from .2 months
in June.  Definitely showing that the
demand continues to far outpace the supply of homes out there.  As long as this continues, there is very
little chance that prices will fall any time soon, and being out “in the
field”, it’s clear that the days of multiple offers way over asking are far
from over.  Great news for the homeowners
out there who are thinking about selling.

 

In light of this, I’ll end with an
invitation to join us for a seminar on “Tips & Strategies for Selling a
House”.  This will take place on November
9th at 6:30pm at the Borel Estates Building, 1700 S. El Camino Real
in San Mateo.  Dinner will be provided.
The seminar is free, but seating is limited, so make sure to reserve your seat
by contacting me directly or by signing up online at:  https://tinyurl.com/perissonspeakers

 

 

Call me if you need any assistance in San Mateo.
I’d be more than happy to discuss the current market’s activity, show homes
from the current inventory and help you with any of your real estate needs in
the community. You can always reach me at 650.921.5621 or 
stuart@yoxsimer.com