Market Update | For the month of July 2019

San Mateo County

In San Mateo County , Single Family Home’s Median Sales Price is $1, 765 ,000 and sold on average 20 days for 106% of the list price based on 428 sales in May 2019.

• Inventory was up 12% compared to last month, and up 18% compared to May 2018 with 585 homes available for sale in the month of May 2019 as compared to 480 homes available last year.
• Average days on market (DOM) dropped 3 days from 23 to 20 or -15% compared to the month before.
• Number of new listings for the month of May increased 12% over April, and up 10% from May of last year. 
• Closed sales went up 8% compared to April from 395 to 428; but down -9.6% from May 2018.

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Santa Clara County

In Santa Clara County for the month of July 2019, Single Family Home’s Median Sales Price was $1,289,500 and sold on average 26 days on the market for 100.7% of the list price based on 940 sales.

• Inventory was down -10.15% with 1,556 homes on the market this July compared to last month’s at 1,714 homes, but up 1.0% compared to July last year at 1,540 homes.
• Average days on market increased 1 day from 25 to 26 compared to the month before.
• Number of new listings for the month of July at 1,011 homes decreased -15.13% from last month’s at 1,164 homes, and down -20.4% from July 2018 at 1,217 homes.
• Number of closed sales increased 3.09% as compared to June of last month at 911 homes; and up 3.6% from July 2018 at 906 homes sold.

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