San Mateo County - Weekly Market Report: SEPT 6 - 12, 2023

Check out this SEPT 6 - 12, 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's market is characterized by swift sales, with properties spending an average of just 5 days on the market. The median sold price stands at a robust $2.1 million, indicating a premium market.

Burlingame's real estate scene is steady, with homes taking about three weeks to sell. The median sold price is $1.655 million, suggesting a strong demand for properties in this price range.

Foster City is experiencing a balanced market with properties selling in about two weeks. The median sold price of $1.433 million indicates a healthy demand in the mid-premium segment.

Hillsborough stands out as a luxury market with a median sold price of $3.7 million. However, properties are taking longer to sell, averaging a month on the market, which may suggest a more selective buyer pool.

Los Altos is a top-tier market with a staggering median sold price of $4.7 million. Despite the high price point, properties are selling relatively quickly, in just a week, indicating a high demand in this luxury segment.

Millbrae's market is consistent with homes selling in about two weeks. The median sold price of $1.55 million suggests a steady demand for properties in this range.

Palo Alto, with a median sold price of $3.02 million, is a sought-after market. Properties are selling in just over a week, and the single price change indicates a stable pricing environment.

San Carlos has a healthy market with properties selling in under two weeks. The median sold price of $1.45 million indicates a consistent demand in this price segment.

San Mateo boasts the largest number of active listings among the cities reviewed. With a median sold price just shy of $1.45 million and properties selling in about three weeks, it's a bustling market with a wide range of opportunities.

Overall Analysis:

The real estate market across these cities showcases a blend of luxury and mid-premium segments. While places like Los Altos and Hillsborough cater to the luxury segment, cities like Foster City and San Carlos offer mid-premium options.

The relatively quick sales in most cities indicate a strong demand, and the minimal price changes suggest stable market conditions.

Buyers and investors have a plethora of options, from high-end luxury homes to more affordable premium properties.

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