May 2023 San Mateo County Market Update
Rumana Jabeen • May 13, 2023
There is about 1.5 months of inventory for both single family homes and condos/townhomes. In April, sales tended to be at asking price. The median sales price for single family homes was $1.8 million, while the median for condos/townhomes was $857,000. Median is the middle number, so as many homes sold below that price as above.
To find out what your home’s true value, please give me a direct call. 650-743-4503.
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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.
