San Mateo County Real Estate Market Update – August 2022

Rumana Jabeen • August 23, 2022
A san mateo county august 2022 market update

In San Mateo, the median sold price for single-family homes in July slightly decreased month-over-month to $1.8 million. The number of homes sold decreased to 330 and the number of new listings also decreased to 443. The number of condo & townhouses sales decreased month-over-month at $897,500 with 110 units sold and 149 new listings.


Buyers are also still being aggressive with their offer prices, with the median offer price

continuing to be above 100%. There is no doubt that higher interest rates have impacted demand for homes, especially in June when rates had reached their apex. But low inventory continues to be a factor as well. A balanced market is considered representative of 6 months’ supply of homes. When factoring in the amount of completed homes, the month’s supply of homes available was really less than a month at 25 days. This ongoing imbalance of supply and demand should continue to be supportive of home prices.

An aerial view of a residential area with mountains in the background.
A dashboard with a lot of graphs and charts on it.

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A picture of flowers and the words san mateo county

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