San Mateo County - Real Estate NOV 2022 Report

San Mateo County real estate market is thriving. This report will give you an inside look at the latest trends in our market, including sales price and inventory data, as well as information on luxury homes. We’ll also take a look at what’s happening with rental rates so you can make informed decisions about your next move.

The 3-month rolling, median house sales price in October 2022 was down 4%. However, the 3-month rolling, median condo sales was up by 1%. In comparison with the Monthly Sales Volume of October 2021, the number of sales in October 2022 was down approximately 37%; The lowest October total in over 17 years. 

In the latest month, 42% of sales closed over final list price which is down from 86% in March. This shows overbidding list prices in San Mateo County. When it comes to average days on market, it takes about 6-8 weeks for homes priced under $5M before either being sold/withdrawn or expiring. It takes 10 weeks on average for $8M+ listings.

As of November 1, 2022 there are 863 Active & Coming Soon House, Condo, and Townhouse listings in the San Mateo County Homes Market. Since April 2022 the percentage of active listings expire or are withdrawn without being sold had tripled for October 2022. The percentage of sales closed over final list price is now at 50%, which is 23% less than the data in April of 2022. This shows an increase in overbidding.

Check below to see the graphs and charts for this market report:

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