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  • Writer's pictureKevin Peterson

San Mateo, CA Real Estate Trends - August 2023

Updated: Nov 2, 2023

San Mateo real estate has been hot all summer, for both sellers and buyers.


How hot? If you are new here, I'm Kevin Peterson, your trusted San Mateo REALTOR® and I have an exciting market update.


Let's dive right in!





Months Supply of Inventory over the last 12 months

As of August 2023, the San Mateo real estate market is thriving with plenty of opportunities for both buyers and sellers alike. Currently, we have a very tight market with only 1.49 months supply of inventory. This means that demand is strong, and homes are being snatched up quickly.


Over the past 12 months, the Months Supply of Inventory has decreased by a remarkable 10.2%. This indicates a market where buyers are actively searching for their dream homes, leading to a competitive environment for sellers.



List to Sold Price percentage


Speaking of sellers, here's some great news for you! The List to Sold Price percentage is currently at an impressive 102.5%. What does this mean? Well, it means that sellers are receiving, on average, over their asking price. So if you're thinking of selling, now might be a fantastic time to capitalize on the high demand and fetch top dollar for your property.



Median Days on Market


Now, let's talk about timing. Homes in San Mateo are flying off the market, with a median days on market of just 11 days. That's right, 11 days! This rapid pace is a testament to the strong demand and the desirability of our beautiful city.



Median Sold Price


Lastly, let's talk about the numbers that everyone's been waiting for – the median sold price. As of August 2023, the median sold price in San Mateo is $1,388,888. This represents a solid increase and reflects the value placed on homes in our area.



Summary

So there you have it, folks, the latest market update for San Mateo, California. With a tight market, high List to Sold Price percentage, low median days on market, and an increasing median sold price, now is an exciting and opportune time to buy or sell a home in our city.



Call To Action

If you're a buyer, make sure to act fast and work with a knowledgeable REALTOR® who can guide you through this competitive market.


And for all you sellers out there, take advantage of the current demand and get in touch with me today to discuss how we can sell your home for top dollar.



Thank you for joining me today, and if you found this market update helpful, don't forget to like this video and subscribe to my channel for more valuable insights. As always, I'm here to help you make informed decisions in the ever-changing real estate market. Until next time, take care and happy house hunting!


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