First, we would like to extend our greatest sympathy to those who have suffered losses and also those who remain threatened by the devastating wildfires in the North Bay and throughout California. We are grateful for all of the firefighters, medical personnel, volunteers, and first response teams who continue to fight the fires and deliver aid. The recent events in the U.S. and around the world are a sobering reminder of the importance of community, and we at Perisson hope to do our part to continue to provide value to our friends and neighbors.
The real estate market continues to remain strong in our area. In September, the Average Sales Price for all residential properties in San Mateo County increased slightly to $1,518,000 from $1,501,000 in August. The Average Days to Sell increased to 24 from 19 and the Average Sale Price to List Price Ratio decreased to 108% from 109%. In Santa Clara County, the Average Sales Price went up to $1,271,000 in September from $1,234,000 in August and the Average Days to Sell increased from 18 days in August to 20 days in September. The Average Sale Price to List Price Ratio stayed the same at 106%.
Median Sold Price of Single-Family Homes
|California||$ 565,330||$ 549,460||$ 527,490||2.90%||7.20%|
|SF Bay Area||$ 856,200||$ 898,880||$ 777,160||-4.70%||10.20%|
|San Francisco County||$1,380,000||$1,428,000||$1,257,500||-3.40%||9.70%|
|San Mateo County||$1,375,000||$1,500,000||$1,250,000||-8.30%||10.00%|
|Santa Clara County||$1,150,000||$1,165,000||$ 975,000||-1.30%||17.90%|
*MTM% = Percent change from prior month.
**YTY% = Percent change from prior year.
Home Prices Have Quadrupled Over The Last 20 Years!
In 1996, at the beginning of the recovery from the 1995 recession, the Median Home Sales Price for San Mateo County was $334,000. After the 2008 crash, the Median Sales Price rose to $695,000 in 2011 and it is now $1,380,000. Tech, biotech, and commercial property development have all contributed to the attractiveness of the Bay Area as a center for business and a magnet for investment, jobs, and housing.