San Mateo County - Weekly Market Report: APR 3 - 9, 2024

Check out this APR 3 - 9, 2024 Get the best insights on when to place a plan for your new home with this weekly market guide in San Mateo Country.

📍 Belmont 📍 Burlingame 📍 Foster City 📍 Hillsborough
📍 Millbrae 📍 Palo Alto 📍 San Carlos 📍 San Mateo

Belmont shows a relatively low level of active listings, which indicates a tighter market where demand may outpace supply. The median sold price is notably high, suggesting that Belmont is a highly sought-after area, possibly due to its desirable location or quality of life. The quick median days on the market reinforce this demand, indicating that properties in Belmont are selling almost immediately after listing.

Burlingame's market is more active than Belmont's, with a higher number of active and new listings. This suggests a slightly more fluid market with more choices for buyers. However, the median sold price, while lower than Belmont's, is still quite high, indicating a premium market. The longer median days on the market compared to Belmont suggest that while Burlingame is desirable, buyers may be taking more time to make purchasing decisions.

Foster City also presents an active market with a significant number of new listings. The median sold price here is lower than in Belmont and Hillsborough but remains substantial, pointing to a premium market segment. The equal median days on the market to Burlingame indicate a balanced demand relative to supply, where properties are moving at a measured pace.

Hillsborough stands out with the highest median sold price among the listed cities, underscoring its position as a highly premium market. The number of active listings is on the higher side, which, combined with a lower number of sales, suggests a selective buyer's market where high-value transactions are common but less frequent. The median days on the market align with Burlingame and Foster City, indicating that even at higher price points, there is a consistent demand.

Millbrae shows the lowest number of active listings, indicating a very tight market. The median sold price is in the mid-range among the cities analyzed, suggesting a balance between premium and more accessible segments. The slightly faster median days on the market compared to other cities suggest that Millbrae's market is quite dynamic, with properties selling relatively quickly.

Palo Alto distinguishes itself with the highest number of active listings, indicating a very active market with a wide range of options for buyers. The high median sold price reflects Palo Alto's desirability and status as a premium market. The relatively quick median days on the market further highlight strong demand in Palo Alto, aligning with its reputation as a highly sought-after location.

San Carlos presents a balanced market with a moderate number of active listings. The median sold price is high, indicating a premium market segment. The very quick median days on the market suggest a high demand for properties in San Carlos, with listings moving rapidly from active to sold.

San Mateo shows the highest number of active listings, indicating a very vibrant market with plenty of options for buyers. Despite this, the median sold price is on the lower end among these cities, suggesting a more accessible market. The median days on the market are moderate, indicating a healthy pace of sales relative to the high volume of listings.

Overall Analysis

The real estate market across these cities reflects a diverse landscape. Premium markets like Hillsborough and Belmont command high prices and see rapid sales, indicating strong demand for luxury properties. More balanced markets like Foster City and San Carlos offer a mix of accessibility and premium options, with properties moving quickly. Active markets like Palo Alto and San Mateo provide a wide range of choices, with Palo Alto leaning more towards the premium segment and San Mateo offering more accessible options. Across the board, the absence of price changes suggests market stability during the period analyzed. This stability, combined with the varying dynamics of supply, demand, and median sale prices, paints a picture of a region with healthy real estate activity catering to a broad spectrum of buyer preferences and needs.

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