San Mateo County - Weekly Market Report: NOV 15 - 21, 2023

Check out this NOV 15 - 21, 2023 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

Each city in our analysis presents a distinct facet of the real estate market. From Belmont's fast-paced sales to Hillsborough's ultra-luxury segment, and San Mateo's bustling activity, these markets reflect the diverse nature of real estate in the region. While trends like stability in pricing are common, the nuanced differences between each city offer valuable insights for stakeholders in the real estate industry. As the market continues to evolve, keeping a close eye on these trends will be crucial for making informed decisions in the dynamic world of real estate.

Belmont's real estate market is characterized by its balance and rapid pace. With 14 active listings and a median sale price of $1,800,000, it caters to a high-end market. The rapid median sale time of 8 days is a testament to the high demand in this area, making it a hotspot for sellers seeking quick transactions. However, with only 1 pending sale, there might be signs of a cooling phase.

Burlingame stands out with its luxury real estate, indicated by a median sold price of $2,685,000. Despite a higher number of listings (23), the market appears active, with 3 properties recently sold. The longer median days on market (56 days) suggest that buyers may have more negotiation power here, a typical trait in luxury markets.

Foster City's market is notable for its high-value properties and quick sales, with a median sold price of $1,750,000 and an average of 6 days on the market. The presence of 21 active listings and 3 pending sales indicate a healthy, active market, appealing to both buyers and sellers.

Hillsborough represents the ultra-luxury segment with its staggering median sold price of $6,600,000. The 28 active listings in this market take longer to sell (25 days on average), likely due to the higher price points. This market is ideal for high-net-worth individuals looking for exclusive properties.

Millbrae offers a more accessible entry into a high-end market with its median sold price of $1,589,000. Despite a lower number of active listings (8), the market is surprisingly active, as evidenced by 5 recent sales. However, the longer median days on market (36 days) suggest a balance between buyers' and sellers' advantages.

Palo Alto showcases a premium market with the highest number of active listings (48) and a median sold price of $2,550,000. Properties sell relatively quickly here (13 days on average), indicating a strong sellers' market. The ongoing demand is further highlighted by 4 pending sales.

San Carlos presents a dynamic market with 29 active listings and a more accessible median sold price of $1,500,000. The moderate median days on market (19 days) suggest a balanced market. The 7 pending sales indicate a vibrant market, appealing to a broad range of buyers.

San Mateo tops the list with 90 active listings, showcasing a highly active market. The median sold price of $1,625,000 strikes a balance between luxury and accessibility. With 15 median days on the market and 18 pending sales, it represents a bustling market that caters to various buyer preferences.

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