San Mateo Housing Absorption Rates – August

San Mateo Real Estate In August

Six months’ inventory marks the differentiation between a buyers’ and sellers’ market. Looking at August, Woodside is the only city that’s over the swing to reach into a buyers’ market.

August Year to Year 2009 – 2006

2009 2008 2007 2006
Atherton 3.7 14 2.9 2.9
Belmont 1 3.8 1.9 1.1
Brisbane 2.6 5.5 1.7 11
Burlingame 2.2 2.1 3.1 2.7
Colma 3 4 4 1
Daly City 1 1.96 10.7 2.4
El Granada 2.7 2.7 5 3.7
Foster City 2 1.2 2 1.2
Half Moon Bay 3.6 3.8 12 4.7
Hillsborough 2.8 4.1 2.6 3.1
La Honda 4 6.5 6 3
Loma Mar 1 3 2 4
Menlo Park 2.2 4.1 2.8 3.5
Millbrae 2.2 2 3.3 2.9
Montara 3.5 10 5.3 11
Moss Beach 3.7 2.4 5 5
Pacifica 1 2.97 4.7 3
Pescadero 2.5 10 4.3 6.5
Portola Valley 3.1 10.5 2.8 9
Redwood City 1.2 2.9 4.4 1.8
Redwood Shores 3.2 0 1.8 4
San Bruno 1 1.7 7 1.6
San Carlos 1.8 1.8 1.9 1.6
San Gregorio 2 2 2 3
San Mateo 1 2.4 3.4 1.9
South San Francisco 1 1.98 7.7 2.8
Woodside 13 8.6 5.9 7.7

Month to Month 2009

Looking at the month to month inventory levels, there was a peak of houses on the market in March and April. Inventory has declined in all but a few cities like Colma, San Gregorio, and Woodside.

Foster City has seen a dramatic drop in inventory from 10 months’ to 2. What does that mean? Less to choose from; likely that houses are selling more quickly. Whether or not they’re selling for more money requires more research. That’ll have to be for another post.

Montara dropped from 16 months’ to 3.5. The Coast has been hit hard by this market. Price adjustments and long days on the market is a common sight. It’s just my interpretation, but it seems to me that The Coast is the first place to see the effects of a declining market and the last area to recover.

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

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.

You

Interested in a particular area? Want to know what the stats say? Comment below or shoot me an email at Vicki[@]CallVicki.com

Vicki Moore About Vicki Moore

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