San Mateo County - Weekly Market Report: OCT 18 - 24, 2023
Check out this OCT 18 - 23, 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
📍 Los Altos 📍 Millbrae 📍 Palo Alto 📍 San Carlos 📍 San Mateo
Belmont, the real estate market is fairly active with 21 active listings and 4 new listings. The median sold price stands at $2,039,000 with properties spending a median of 10 days on the market, indicating a relatively quick turnover. This suggests a balanced market, possibly with good demand meeting the supply.
Burlingame exhibits a high median sold price of $4,460,000 but with a considerably longer median time on the market of 129 days. The lack of new listings could be a reflection of the high property values deterring new sellers or a satisfaction with the current market conditions among potential sellers.
Foster City also has a balanced market with a median sold price of $1,622,750 and properties spending about 12 days on the market. With 27 active listings and 4 new ones, the market seems to be steadily rolling.
Hillsborough, on the other hand, has a unique scenario with a high number of active listings (32), but no recent sales, and a median time on the market standing at zero. This could indicate either a data anomaly or a stagnant market.
Los Altos portrays a robust market with a high median sold price of $4,478,500 and properties moving relatively fast with a median of 8 days on the market. With 9 new listings, the market shows signs of healthy activity.
Millbrae's market is faster with properties spending only 4 days on the market on average. The median sold price is $2,174,444, which is relatively moderate compared to neighboring areas, possibly indicating a more affordable market.
Palo Alto has a bustling market with 64 active listings and a substantial median sold price of $3,420,000. With properties spending a median of 12 days on the market, and 9 new listings, the market seems to be in a healthy state.
San Carlos has a relatively lower median sold price of $1,950,000 with properties spending about 9 days on the market, suggesting a fairly active and balanced market with 34 active listings and 6 new ones.
San Mateo has the highest number of active listings at 108, with 16 new listings and a moderate median sold price of $2,025,000. The median days on the market is 8, showing a relatively quick turnover, and with one price change recorded, it hints at a competitive market environment.
In conclusion, while some cities like Palo Alto and Los Altos exhibit a high median sold price indicating a high-end market, others like Foster City and San Carlos are more balanced with moderate prices and active listings. The real estate market across these cities is diverse, each with its unique set of conditions and trends.
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