San Mateo Real Estate Market’s Absorption Rates
The absorption rate is a quick way to see if the San Mateo real estate market is increasing in inventory or declining. It’s just one piece of information used to evaluate pricing. It’s a snapshot of the market.
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 San Mateo’s market 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.
The Market Now
It’s not a surprise to those trying to buy a house right now that Daly City, East Palo Alto, San Bruno and South San Francisco are all extremely competitive; there are many more buyers out there than there are houses to sell them.
|East Palo Alto||*||*||*|
|Half Moon Bay||7||6||4|
|So San Francisco||*||*||*|
The * indicates that there’s more houses under contract than there are for sale; definitely a sellers’ market.
Thanks for reading the San Mateo Real Estate Blog.
Need real estate help?
Contact me at 650.888.9268 or Vicki[@]CallVicki.com.
Vicki Moore, Realtor
Alain Pinel Realtors, specializing in San Mateo, CA Real Estate.