San Mateo County Real Estate Market Update – March 2022

Rumana Jabeen • March 22, 2022
A poster for san mateo county march 2022 market update

In February, San Mateo County’s median sold price for single-family homes increased to $1,962,500.

That is up 12.1% compared to the same time last year.


The number of homes sold increased marginally compared to the previous month to 220,

which was a 23.9% decrease year-over-year. The number of new listings increased month-over-month to 450, which was a 4.1% decrease year-over-year.


Inventory on the market increased month-over-month to 1.5 months.


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

115.2% of the list price in February.


In the condo/loft/TIC market, the median sales price increased to $1,037,500, up 20.9%

year-over-year.


The number of condo/loft/TIC sales was down 17.2% year-over-year. Condo/loft/TIC

inventory increased slightly month-over-month at 1.4 months.


With higher inflation, interest rates may rise, creating countervailing downward pressure on

home prices due to the resulting higher monthly payments.

A table showing summary of the numbers for february 2022
A graph showing the median sold price of single family homes and condo / townhomes.
A graph showing the average days on market for single family homes , condo / townhomes , and condo / townhomes.
A graph showing the number of single family homes , condo / townhomes , and condo / townhomes.
A graph showing the number of single family homes and condo / townhomes sold.
A graph showing the percentage of list price received for single family homes and condo / townhomes.

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