The absorption rate is a quick way to see the direction of San Mateo’s real estate market when compared to a previous period. You can also see if the area is a buyer or a sellers’ market.
Follow this: The National Association of Realtors defines a balanced market as one is which there is 6 months of inventory. More than 6 months, it’s a buyers’ market; less is a sellers’ market.
So for example, if you’re looking at San Mateo detached homes - remember, this is the whole city – it is a sellers’ market with just slightly over 2 months of inventory. Pacifica – it too is a sellers’ market.
Now look back again at San Mateo. 2.02 months’ inventory is slightly higher than 2007′s 1.91 and 2006′s 1.36. See the pattern? Look at the dratmatic difference Foster City has seen between 2008 and 2007 – twice as much inventory.
Remember, this is a broad stroke. You have to drill down to neighborhoods and home types to get a crystal clear picture.
| 7/30/2008 | 7/30/2007 | 7/30/2006 | |
| Atherton | 5.00 | 3.25 | 3.23 |
| Belmont | 1.86 | 1.43 | 1.31 |
| Brisbane | 3.50 | 0.00 | 1.60 |
| Burlingame | 1.95 | 1.20 | 2.33 |
| Colma | 1.50 | 4.00 | 1.00 |
| Daly City | 2.01 | 4.34 | 2.51 |
| East Palo Alto | 2.14 | 5.66 | 4.00 |
| El Granada | 4.40 | 6.50 | 4.00 |
| Foster City | 3.00 | 1.50 | 0 |
| Half Moon Bay | 3.41 | 9.00 | 2.50 |
| Hillsborough | 4.80 | 2.62 | 5.70 |
| La Honda | 7.50 | 4.66 | 1.57 |
| Loma Mar | 3.00 | 2.00 | 5.00 |
| Menlo Park | 2.78 | 1.57 | 2.16 |
| Millbrae | 1.91 | 2.60 | 2.46 |
| Montara | 9.50 | 6.00 | 8.50 |
| Moss Beach | 2.16 | 6.50 | 2.25 |
| Pacifica | 4.50 | 3.31 | 2.11 |
| Pescadero | 9.00 | 5.50 | 4.00 |
| Portola Valley | 4.60 | 2.12 | 6.50 |
| Redwood City | 2.20 | 3.19 | 1.71 |
| Redwood Shores | 2.25 | 0.90 | 1.25 |
| San Bruno | 1.53 | 5.61 | 2.23 |
| San Carlos | 1.37 | 2.34 | 1.83 |
| San Gregorio | 2.00 | 2.00 | 3.00 |
| San Mateo | 2.02 | 1.91 | 1.36 |
| South San Francisco | 2.50 | 4.28 | 2.62 |
| Woodside | 6.71 | 4.88 | 6.00 |
So let’s do that. Here’s a closer look at San Mateo homes:
| 7/30/2008 | 7/30/2007 | 7/30/2006 | |
| 19th Avenue Park / Sunnybrae | 3 | 3.33 | 1.5 |
| Aragon | 2 | 0 | 2 |
| Baywood Knolls | 0 | 1 | 2 |
| Baywood Park | 4 | 1.5 | 2.5 |
| Baywood/Parrott Park | 2 | 0 | 6 |
| Beresford Manor | 0 | 0.66 | 0 |
| Bowie Estate | 9 | 4 | 1.33 |
| Eastern Addition/Downtown | 1.75 | 5 | 7 |
| Edgewater Isle | 0 | 0 | 0 |
| Fiesta Gardens | 0 | 0.75 | 0.66 |
| Foothill Terrace | 2 | 1 | 0.5 |
| Hayward Park | 5 | 5 | 0 |
| Homestead / Husing | 0 | 2 | 2 |
| Lakeshore #1 | 2 | 6 | 0 |
| Laurelwood | 6 | 0.25 | 0.25 |
| Lauriedale | 4 | 0 | 2 |
| Los Prados | 2 | 2 | 2 |
| North Shoreview/Dore Cavanaugh | 0 | 4.33 | 0 |
| Mariner’s Isle | 4 | 0 | 2.5 |
| Park Western /Hillsdale | 5 | 2 | 1.5 |
| Parkside | 2 | 9 | 5 |
| San Mateo Park / El Cerrito Park | 2.66 | 2 | 7 |
| San Mateo Terrace | 2 | 0.33 | 0.83 |
| San Mateo Village/Glendale | 3.5 | 6 | 0.5 |
| San Mateo Woods / Bayridge | 0 | 0 | 0.87 |
| San Mateo Woods/Laurel Creek | 0 | 1 | 1 |
| South Shoreview | 2.63 | 2.5 | 0 |
| The Highlands/Ticonderoga | 0 | 0.16 | 0.75 |
| Westwood Knolls | 1 | 1.33 | 0.5 |
Popularity: 50% [?]
August 1st, 2008 at 5:20 pm
I love your blog! I love your contenet and your blogroll! I am a Realtor in San Bruno and love to blog! Continued success to you!
Karin