San Mateo Real Estate In July
Six months’ inventory is the differentiation between a buyers’ and sellers’ market. Looking at July, Hillsborough, LaHonda, Portola Valley, and Woodside are the only four cities in the county reaching that.
Redwood City’s First-Time Buyers
I’ve been working with first-time buyers in Redwood City. The city as a whole has a relatively small amount of inventory; the first-time buyers are fighting investors for those houses. A recent sale on Marlborough priced at 299k – definitely designed to get multiple offers – received 12 last time I checked; probably more!
A house on MacArthur also priced to generate multiple offers ended up receiving nine offers. Surely it was an investor who won out on that house – they paid all cash to win it.
| January | February | March | April | May | June | July | |
| Atherton | 25 | 18 | 8.6 | 10.8 | 4.6 | 2.8 | 3.4 |
| Belmont | 3 | 2 | 2.3 | 2 | 1.5 | 1.7 | 1.4 |
| Brisbane | 2 | 6 | 5 | 3 | 5 | 3 | 4.3 |
| Burlingame | 3.6 | 4 | 3 | 1.6 | 1.9 | 1.6 | 2 |
| Colma | 6 | 1 | 2.5 | 1 | 1 | 1 | 1 |
| Daly City | 1.3 | 1 | 1 | 1 | 1 | 1 | 1 |
| East Palo Alto | 1.3 | 1.6 | 1.4 | 2.4 | 1 | 1 | 1 |
| El Granada | 5 | 31 | 11 | 9 | 6 | 3.6 | 2.8 |
| Foster City | 6.5 | 10.7 | 10 | 2.8 | 2 | 1.5 | 1.4 |
| Half Moon Bay | 7.6 | 11 | 7.5 | 16 | 6 | 7.9 | 5.5 |
| Hillsborough | 7.7 | 12.8 | 5.9 | 5.9 | 4.3 | 4.7 | 5.9 |
| La Honda | 8 | 5 | 3.7 | 6 | 4.7 | 6 | 5.5 |
| Loma Mar | 1 | 1 | 1 | 0 | 1 | 1 | 0 |
| Menlo Park | 3.5 | 3.4 | 4 | 1.9 | 1.7 | 1.8 | 2.9 |
| Millbrae | 5.9 | 9.5 | 3 | 1.6 | 1.2 | 2.3 | 2 |
| Montara | 18 | 17 | 16 | 4.5 | 3.6 | 3.4 | 4.3 |
| Moss Beach | 10 | 16 | 7 | 5.5 | 12 | 4.5 | 5 |
| Pacifica | 2.8 | 2.8 | 1.9 | 1.3 | 1 | 1 | 1 |
| Pescadero | 8 | 4 | 5 | 2 | 3 | 3 | 2 |
| Portola Valley | 11 | 3.8 | 3.4 | 2.8 | 5.5 | 3.4 | 5.5 |
| Redwood City | 3.3 | 2.5 | 2.4 | 2.3 | 1.8 | 1.5 | 1.5 |
| Redwood Shores | 4.7 | 9 | 6 | 2 | 3 | 2.3 | 3.3 |
| San Bruno | 1.6 | 1.4 | 1.5 | 1 | 1 | 1 | 1 |
| San Carlos | 3.8 | 2.3 | 2.8 | 2 | 2.2 | 1.6 | 1.9 |
| San Gregorio | 2 | 2 | 1 | 2 | 3 | 1 | 1 |
| San Mateo | 2.9 | 3 | 2 | 2 | 1.6 | 1.3 | 1.3 |
| South San Francisco | 2.5 | 1.7 | 1.4 | 1 | 1 | 1 | 1 |
| Woodside | 16 | 6.8 | 7.3 | 7 | 7.6 | 6.8 | 9.3 |
Absorption Rates
The absorption rate is a quick way to see if the number of homes for sale in San Mateo County is going up or down. It’s just one of the statistics used to evaluate pricing.
What you’re looking at is how many months’ inventory there is on the market. The assumption is that it will take X number of months for all of the houses currently on the market to sell. More inventory = longer to sell.
You can also see if the area is a buyer or a sellers’ market. 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.
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