San Mateo Real Estate Absorption Rates: September 2008, 2007, 2006

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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.

Daly City’s inventory has continued to fall.  From 2.01 in July; 1.96 in August; now 1.9.  When you’re talking about 8.6 months’ inventory in September 2007 to just under 2 months’ in September of 2008 every little bit matters.

July 2008, 2007, 2006 absorption rates
August 2008, 2007, 2006 absorption rates

9/30/2008 9/30/2007 9/30/2006
Atherton 6.80 3.30 7.70
Belmont 3.20 2.50 1.90
Brisbane 3.00 5.00 6.00
Burlingame 2.70 4.70 2.90
Colma 2.00 2.00 2.00
Daly City 1.90 8.60 2.50
El Granada 2.90 6.00 3.10
Foster City 3.30 1.60 2.00
Half Moon Bay 5.70 7.10 4.00
Hillsborough 3.40 3.10 3.20
La Honda 7.50 12.00 7.00
Loma Mar 2.00 2.00 3.00
Menlo Park 3.70 3.70 3.50
Millbrae 2.00 6.30 1.70
Montara 12.00 18.00 9.00
Moss Beach 18.00 5.30 4.00
Pacifica 3.20 5.70 3.60
Pescadero 11.00 6.50 5.50
Portola Valley 13.00 2.70 5.80
Redwood City 2.60 6.40 2.10
Redwood Shores 3.50 1.80 4.00
San Bruno 1.70 9.70 3.00
San Carlos 2.20 2.50 2.10
San Gregorio 2.00 2.00 2.00
San Mateo 1.80 3.90 1.70
South San Francisco 2.30 9.50 2.60
Woodside 9.80 7.20 9.70

Got a San Mateo County real estate question?   Call me at 650.888.9268 or send me an email Vicki [at] CallVicki.com.   If you like what you’ve read, subscribe to the San Mateo Real Estate Blog feed.

Vicki Moore About Vicki Moore

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

By Phone:
650.888.9268

Comments

  1. Vicki, this is a great post! Good explanation of absorption rates

  2. Vicki Moore Vicki Moore says:

    Thanks Donna!

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