San Mateo Housing Absorption Rates First Quarter 2009

Filoli

Filoli

I’m Done

I finally finished the absorption rates for the first quarter.  Not that it was difficult.  I had already done the hard part.  I just needed to cut and paste but lately I have so much going on, I can’t keep up with the blog.

The Numbers

Generally, the inventory has continued to decline. Look at Foster City – whatever slow down they had going on over there is obviously taken a turn in the other direction. From 10 to 2 months’ inventory is huge.

The inventory decline in San Mateo doesn’t show what’s really going on in some parts of the market, but San Mateo isn’t the only city with declining inventory.  Belmont, Brisbane, and Pacifica are also showing decreasing housing inventory.

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

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.

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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