San Mateo Housing Absorption Rates – September

Rockaway Beach, Pacifica

San Mateo Real Estate In August

Six months’ inventory marks the differentiation between a buyers’ and sellers’ market.  Moss Beach, Pescadero and Woodside are the only cities in a buyers’ market.

Daly City – short sale heaven – is seeing 9 months of low, low, low inventory.  And I can tell you things are hot there.  Houses are selling within days – many for over the asking price.  The first-time buyer market in general is HOT.

Another first-time buyer area is Pacifica – its inventory has taken a hit as well.

Foster City has seen some big changes in inventory since Spring.  Housing choices are down quite a bit – from 10 months’ inventory all the way down to 2!

So is that it?  Have we hit bottom?  My standard answer:  That depends.  Depends on where – depends on price range – depends on condition of the house…

Month to Month 2009

Jan Feb March April May June July Aug Sept
Atherton 25 18 8.6 10.8 4.6 2.8 3.4 3.7 2.3
Belmont 3 2 2.3 2 1.5 1.7 1.4 1 2.6
Brisbane 2 6 5 3 5 3 4.3 2.6 1.7
Burlingame 3.6 4 3 1.6 1.9 1.6 2 2.2 2.4
Colma 6 1 2.5 1 1 1 1 3 1
Daly City 1.3 1 1 1 1 1 1 1 1
East Palo Alto 1.3 1.6 1.4 2.4 1 1 1 1 1
El Granada 5 31 11 9 6 3.6 2.8 2.7 5.4
Foster City 6.5 10.7 10 2.8 2 1.5 1.4 2 2
Half Moon Bay 7.6 11 7.5 16 6 7.9 5.5 3.6 3.8
Hillsborough 7.7 12.8 5.9 5.9 4.3 4.7 5.9 2.8 4.4
La Honda 8 5 3.7 6 4.7 6 5.5 4 3.3
Loma Mar 1 1 1 0 1 1 0 1 1
Menlo Park 3.5 3.4 4 1.9 1.7 1.8 2.9 2.2 1.9
Millbrae 5.9 9.5 3 1.6 1.2 2.3 2 2.2 1.7
Montara 18 17 16 4.5 3.6 3.4 4.3 3.5 3.3
Moss Beach 10 16 7 5.5 12 4.5 5 3.7 6
Pacifica 2.8 2.8 1.9 1.3 1 1 1 1 1
Pescadero 8 4 5 2 3 3 2 2.5 9
Portola Valley 11 3.8 3.4 2.8 5.5 3.4 5.5 3.1 3
Redwood City 3.3 2.5 2.4 2.3 1.8 1.5 1.5 1.2 1.3
Redwood Shores 4.7 9 6 2 3 2.3 3.3 3.2 1.9
San Bruno 1.6 1.4 1.5 1 1 1 1 1 1
San Carlos 3.8 2.3 2.8 2 2.2 1.6 1.9 1.8 1.9
San Gregorio 2 2 1 2 3 1 1 2 3
San Mateo 2.9 3 2 2 1.6 1.3 1.3 1 1
So San Francisco 2.5 1.7 1.4 1 1 1 1 1 1
Woodside 16 6.8 7.3 7 7.6 6.8 9.3 13 7.7

Real Estate 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.

Got a Q?

Wondering about your neighborhood? Remember, real estate is local – really, really local. Send me an email or make a request in the comment box!

Vicki Moore About Vicki Moore

Office:
RE/MAX Star Properties
282 Redwood Shores Parkway
Redwood Shores, CA 94065

By Phone:
650.888.9268

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