April 2023 San Mateo County Market Update
Rumana Jabeen • April 16, 2023
In San Mateo County, there are 334 single family homes for sale, which equates to one month of inventory. 251 homes were sold in March, at a median sale price of $1.7M. Homes sold, on average, at asking price in 28 days. 334 new listings were added in the same period.
There is also one month inventory of condos and townhomes, 132. 98 units sold at a median price of $1M. Condos sold just slightly under asking price, and took an average of 36 days to sell.
Pricing your home correctly from the start is crucial for a quick and successful sale. Learn why overpricing can backfire and how a strategic price can attract more buyers and better offers.
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Winter may be a quieter time for the real estate market, but it’s actually one of the most balanced seasons for sellers and buyers to succeed. It’s actually Rumana’s favorite market season!
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Your Simple Referral = A Chance to Win a $1,000 Ritz Carlton Gift Card! At Rumana's Realty, we believe that great service is worth sharing. That’s why we’re excited to announce our referral program, open to everyone! If you know a neighbor, loved one, or colleague who is considering buying or selling a home, Rumana is here to help them navigate the process with expertise and care.
If you’ve been hesitant to list your house because you’re worried no one’s buying, or if you’re a buyer watching the market to understand the best time to buy, here’s your sign it may be time to talk with an agent. With falling mortgage rates bringing more buyers back into the market, now is the perfect opportunity for both sellers and buyers to make a move!
Many potential buyers are holding off on purchasing a home, anticipating that mortgage rates will drop even further. The common belief is that lower rates will make homes more affordable and provide better financing terms. This wait-and-see approach is based on the hope that a lower rate will save money over the life of the loan and make homeownership more attainable.
Our recent travels took us on a journey through three distinct landscapes—each offering its own unique experiences and memories. From the bustling streets of Atlanta to the serene beaches of Santa Barbara, and finally, to the rugged trails of the Sierra Nevada, it was a trip full of relaxation, exploration, and a few surprises along the way.
If you received our postcard, you may have noticed that the arrows indicating year-over-year changes from 2023 were accidentally omitted during the printing process. We regret any inconvenience this may have caused. Please refer to the versions below for year-over-year comparisons. For a deeper dive into our mid-year market update, explore the expanded report below.
The seasonal impact on the market is as you might expect, a little slower. With many leaving on vacations, the number of homes on and coming to market reduces and open houses aren’t as packed. That doesn’t mean the market is on vacation though; quite the opposite! There's a wave of new buyers entering the market alongside those already in the market.
