Statistical Tables

Home Sales and Inventory Continue Rising

Trends at a Glance
(Single-family Homes)
  Apr 08 Mar 08 Apr 07
Median Price: $884,500 $900,000 $975,000
Average Price: $1,202,430 $1,163,600 $1,205,490
Home Sales: 318 253 395
Sale/List Price Ratio: 98.6% 98.0% 101.3%
Days of Inventory: 178 206 133
Days on Market: 49 53 39

Sales of single-family, re-sale homes gained 25.7% from the month before, but were off 19.5% year-over-year.

The median price for homes in San Mateo County fell 1.7% from the month before, and was off 9.3% compared to last April. The average price rose 3.3% from Marvh. The average price was down 0.3% year-over-year.

The median price for condos gained 0.5% to $525,000, but it was down 10% year-over-year. The average price fell 0.1% to $610,336, about the same compared to last April.

Condo sales fell 7.3% from March, and were off 46.5% year-over-year.

Inventory continued rising during the spring selling season.  Single-family homes inventory rose 8.6%, up 7.6% year-over-year. Condo inventory gained 4.4% month-over-month, but was down 4.2% compared to last April.

The sales price to list price ratio rose 0.6 of a point to 98.6% for homes. The ratio for condos dropped 1.5 points to 97%.

Days of inventory dropped 28 days to 178 for single-family homes. For condos, days of inventory rose 24 days to 215.

The sales chart below shows the historic inventory versus sales ratio since January 1997. Click on the chart to expand it. To return here, click the back button in your browser.

The chart below tracks the change in median and average prices since January 1998. Click on the chart to expand it.

The real estate market is very hard to generalize. It is a market made up of many micro markets. For complete information on a particular neighborhood or for an evaluation of your home's worth, call me.

If I can help you devise a strategy for this market, call.

continued