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San Mateo Real Estate Price Report September 2009
San Mateo Real Estate Price Report September 2009
San Mateo Real Estate Price Report September 2009
San Mateo Real Estate Price Report September 2009
San Mateo Real Estate Price Report September 2009
San Mateo Real Estate Price Report September 2009
San Mateo Real Estate Price Report September 2009
San Mateo Real Estate Price Report September 2009
San Mateo Real Estate Price Report September 2009
San Mateo Real Estate Price Report September 2009
San Mateo Real Estate Price Report September 2009
San Mateo Real Estate Price Report September 2009
San Mateo Real Estate Price Report September 2009
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San Mateo Real Estate Price Report September 2009

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The San Mateo Real Estate Price Report for September 2009 shows a slow and steady climb to recovery in the San Mateo County single family home market.

The San Mateo Real Estate Price Report for September 2009 shows a slow and steady climb to recovery in the San Mateo County single family home market.

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  • 1. MarketWATCH A summary of market activity for single family home sales in San Mateo County ©Copyright 2009 Raymond Stoklosa • The RayChel Realty Group • (650) 655-2500
  • 2. Phone: 650-655-2500 Fax: 1- 888-739-8184 Department of Real Estate #: 00657178 On behalf of The RayChel Realty Group, I am pleased to present the September 2009 edition of our MarketWATCH Report, a guide to San Mateo County real estate prices published on a monthly basis. How’s the San Mateo County real estate market? The quick answer is it’s improving – slowly and steadily. Newly initiated sales of single family homes in September 2009 climbed to 790 reflecting a 51% increase in the number of pending sales when compared to September 2008. 790 newly initiated single family home sales represent the largest number of pending sales San Mateo County has seen since January 2006. More good news: the average price continues to climb and more San Mateo County homes were sold in September 2009 (380) than in September 2008 (298). Compared to national statistics, The San Mateo County real estate market is showing very favorable numbers. The National Association of REALTORS® (NAR) reported that August 2009 home sales fell to a seasonally adjusted annual rate of 5.1 million units, down from 5.24 million in July. Yet, San Mateo County home sales continue to trend upwards. Even with historically low mortgage interest rates and the $8,000 tax credit for first time home buyers, much of the U.S. is burdened with huge inventory backlogs and unprecedented unemployment. San Mateo County is fortunate that none of these factors burden the area and consequently the current inventory of unsold single family homes (1,544) is modest at best. At the current sell through rate, San Mateo County has less than two months inventory available for purchase. When we compare the number of new listings vs. the number of new sales under contract (aka pending sales), we see a growing positive divergence with pending sales exceeding new listings by 178 units. Generally, a market becomes stronger and more favorable to sellers as the delta between pending sales and new listings grows. Without a doubt, current figures pale when compared with the boom times of 2005-2006, but with every boom comes a bust. All real estate markets are cyclical and San Mateo County is no exception. Currently, the San Mateo County home resale market is more balanced than at any time this decade. While the average price now exceeds $950,000, the median price hovers slightly less than $700,000 (actual $698,500). These prices reflect strong activity in the lowest price quartile – the least costly homes on the market – where home buyers compete vigorously with investors seeking bargains. It’s important to note that San Mateo market activity is not indicative of any other part of the state or the country. A unique set of circumstances exist here that don’t exist in other areas. That said, it is most likely that San Mateo County will begin to see various segments of the market exhibit a variety of levels of strength and weakness. Remember that selling a home is part beauty contest and part price war. Home buyers in San Mateo County are among the most savvy and aware consumers in America and they are expecting value for their money. Take advantage of the resources and information readily available to price your home accordingly. Thank you for reading our report. Should you be interested in more information or have questions, please don’t hesitate to contact us. Sincerely, Raymond Stoklosa Co-Owner and Managing Broker, The RayChel Realty Group Website: www.RayChelRealtyGroup.com Blog: www.LivingWellinSanMateo.com
  • 3. Market Report for September 2009 Source: MLSListings, Inc. Market WATCH Market Report for September 2009 Single Family Homes in San Mateo County Current New Sales Under Absorption Closed %LP Average Average Median  Total Year Month Inventory Listings Contract Rate Sales Recʹd DOM Price Price Volume 2009 Sept 1544 612 790 1.95 380 97.57 76 950,474 698,500 360,229,855 2009 Aug 1486 566 761 1.95 365 97.8 79 848,571 682,500 308,879,963 2009 July 1563 590 768 2.04 393 95.78 80 938,315 765,000 368,757,897 2009 June 1554 585 774 2.01 420 96.72 89 945,717 765,000 396,255,718 2009 May 1619 568 749 2.16 321 96.6 85 933,698 728,000 299,717,071 2009 Apr 1740 648 683 2.55 294 96.15 89 847,016 610,000 248,175,897 2009 Mar 1675 634 557 3.01 250 96.08 97 788,931 576,940 197,232,785 2009 Feb 1576 557 453 3.48 208 99.1 104 763,741 574,950 158,858,190 2009 Jan 1452 530 427 3.40 163 97.2 96 683,900 553,750 110,791,806 2008 Dec 1311 281 410 3.20 262 96.24 88 729,547 603,500 191,141,327 2008 Nov 1650 400 460 3.59 266 96.33 84 851,747 666,000 226,564,877 2008 Oct 1889 658 523 3.61 347 97.53 80 859,675 710,000 298,307,366 2008 Sep 1927 751 566 3.40 298 97.15 86 923,853 755,000 274,384,451 2008 Aug 1773 588 561 3.16 376 96.6 84 985,614 795,000 370,591,052 2008 July 1886 639 627 3.01 428 98.34 86 1,040,623 800,000 444,346,117 2008 June 1957 735 622 3.15 376 98.16 76 1,157,966 890,000 434,237,331 2008 May 1918 789 556 3.45 354 97.44 73 1,185,043 852,500 419,505,295 2008 Apr 1885 776 492 3.83 346 98.51 77 1,183,377 875,000 408,265,191 2008 Mar 1686 709 439 3.84 274 98.15 81 1,158,731 910,000 317,492,419 2008 Feb 1633 669 350 4.67 212 98.61 84 1,444,267 304,378,290 2008 Jan 1448 561 273 5.30 152 96.79 76 1,206,153 183,335,371 Prepared by The RayChel Realty Group Raymond Stoklosa  (650) 655‐2500 Copyright © 2009 The RayChel Realty Group. All rights reserved. info@RayChelRealtyGroup.com
  • 4. Market Trends - San Mateo County Current Inventory 2000 1957 1918 1927 1900 1885 1886 1889 1800 1773 1740 1700 1686 1675 1633 1650 1619 1600 1576 1544 1554 1563 1500 1448 1452 1486 1400 1311 1300 Jul-08 Jul-09 Jan-08 Jan-09 Jun-08 Jun-09 Oct-08 Feb-08 Feb-09 Sep-08 Sep-09 Dec-08 Apr-08 Apr-09 Mar-08 Mar-09 Aug-08 Aug-09 Nov-08 May-08 May-09 Prepared by: Raymond Stoklosa The RayChel Realty Group (650) 655-2500 Copyright © 2009 The RayChel Realty Group. All rights reserved. info@RayChelRealtyGroup.com
  • 5. Market Trends - San Mateo County New Listings 800 776 751 789 709 735 700 669 658 634 639 648 612 600 585 588 590 561 530 557 566 568 500 400 400 300 281 200 Jul-08 Jul-09 Jan-08 Jan-09 Jun-08 Jun-09 Oct-08 Feb-08 Feb-09 Sep-08 Sep-09 Dec-08 Apr-08 Apr-09 Mar-08 Mar-09 Aug-08 Aug-09 Nov-08 May-08 May-09 Prepared by: Raymond Stoklosa The RayChel Realty Group (650) 655-2500 Copyright © 2009 The RayChel Realty Group. All rights reserved. info@RayChelRealtyGroup.com
  • 6. Market Trends - San Mateo County Under Contract 800 768 790 750 749 774 761 700 683 650 622 627 600 561 557 550 556 566 523 500 492 460 453 450 439 410 427 400 350 350 300 273 250 Jul-08 Jul-09 Jan-08 Jan-09 Jun-08 Jun-09 Oct-08 Feb-08 Feb-09 Sep-08 Sep-09 Dec-08 Apr-08 Apr-09 Mar-08 Mar-09 Aug-08 Aug-09 Nov-08 May-08 May-09 Prepared by: Raymond Stoklosa The RayChel Realty Group (650) 655-2500 Copyright © 2009 The RayChel Realty Group. All rights reserved. info@RayChelRealtyGroup.com
  • 7. Market Trends - San Mateo County Absorption Rate Index 5.50 5.30 5.00 4.67 4.50 4.00 3.83 3.84 3.61 3.20 3.48 3.50 3.45 3.40 3.59 3.40 3.01 3.00 3.15 3.16 3.01 2.55 2.50 2.16 2.01 1.95 1.95 2.00 2.04 1.50 Jul-08 Jul-09 Jan-08 Jan-09 Jun-08 Jun-09 Oct-08 Feb-08 Feb-09 Sep-08 Sep-09 Dec-08 Apr-08 Apr-09 Mar-08 Mar-09 Aug-08 Aug-09 Nov-08 May-08 May-09 Prepared by: Raymond Stoklosa The RayChel Realty Group (650) 655-2500 Copyright © 2009 The RayChel Realty Group. All rights reserved. info@RayChelRealtyGroup.com
  • 8. Market Trends - San Mateo County Closed Sales 450 428 420 400 376 365 393 354 376 380 350 347 346 294 321 300 298 274 266 262 250 250 212 200 208 163 150 152 Jul-08 Jul-09 Jan-08 Jan-09 Jun-08 Jun-09 Oct-08 Feb-08 Feb-09 Sep-08 Sep-09 Dec-08 Apr-08 Apr-09 Mar-08 Mar-09 Aug-08 Aug-09 Nov-08 May-08 May-09 Prepared by: Raymond Stoklosa The RayChel Realty Group (650) 655-2500 Copyright © 2009 The RayChel Realty Group. All rights reserved. info@RayChelRealtyGroup.com
  • 9. Market Trends - San Mateo County % Sales Price vs. List Price 99.5 99.1 99 98.61 98.51 98.5 98.34 98.16 98.15 98 97.8 97.53 97.5 97.15 97.57 97.44 97.2 97 96.79 96.72 96.6 96.5 96.6 96.33 96.24 96.15 96 96.08 95.78 95.5 Jul-08 Jul-09 Jan-08 Jan-09 Jun-08 Jun-09 Oct-08 Feb-08 Feb-09 Sep-08 Sep-09 Dec-08 Apr-08 Apr-09 Mar-08 Mar-09 Aug-08 Aug-09 Nov-08 May-08 May-09 Prepared by: Raymond Stoklosa The RayChel Realty Group (650) 655-2500 Copyright © 2009 The RayChel Realty Group. All rights reserved. info@RayChelRealtyGroup.com
  • 10. Market Trends - San Mateo County Average Days on Market 105 104 100 96 97 95 90 86 89 89 86 88 84 85 84 85 84 81 80 79 77 80 80 76 75 76 76 73 70 Jul-08 Jul-09 Jan-08 Jan-09 Jun-08 Jun-09 Oct-08 Feb-08 Feb-09 Sep-08 Sep-09 Dec-08 Apr-08 Apr-09 Mar-08 Mar-09 Aug-08 Nov-08 Aug-09 May-08 May-09 Prepared by: Raymond Stoklosa The RayChel Realty Group (650) 655-2500 Copyright © 2009 The RayChel Realty Group. All rights reserved. info@RayChelRealtyGroup.com
  • 11. Market Trends - San Mateo County Median Price 950,000 910,000 875,000 890,000 850,000 852,500 800,000 795,000 765,000 765,000 755,000 750,000 710,000 728,000 666,000 698,500 682,500 650,000 603,500 610,000 574,950 553,750 576,940 550,000 Jul-08 Jul-09 Jan-09 Jun-08 Jun-09 Oct-08 Feb-09 Sep-08 Sep-09 Dec-08 Apr-08 Apr-09 Mar-08 Mar-09 Aug-08 Nov-08 Aug-09 May-08 May-09 Prepared by: Raymond Stoklosa The RayChel Realty Group (650) 655-2500 Copyright © 2009 The RayChel Realty Group. All rights reserved. info@RayChelRealtyGroup.com
  • 12. Market Trends - San Mateo County Average Price 1,450,000 1,444,267 1,350,000 1,250,000 1,158,731 1,183,377 1,157,966 1,206,153 1,150,000 1,185,043 1,050,000 985,614 950,474 1,040,623 938,315 950,000 923,853 859,675 933,698 945,717 847,016 850,000 851,747 848,571 763,741 788,931 750,000 729,547 683,900 650,000 Jul-08 Jul-09 Jan-08 Jan-09 Jun-08 Jun-09 Oct-08 Feb-08 Feb-09 Sep-08 Sep-09 Dec-08 Apr-08 Apr-09 Mar-08 Mar-09 Aug-08 Aug-09 Nov-08 May-08 May-09 Prepared by: Raymond Stoklosa The RayChel Realty Group (650) 655-2500 Copyright © 2009 The RayChel Realty Group. All rights reserved. info@RayChelRealtyGroup.com
  • 13. Market Trends - San Mateo County Total Sales Volume 450,000,000 444,346,117 419,505,295 434,237,331 396,255,718 400,000,000 408,265,191 368,757,897 360,229,855 370,591,052 350,000,000 317,492,419 298,307,366 300,000,000 304,378,290 299,717,071 308,879,963 274,384,451 250,000,000 248,175,897 226,564,877 197,232,785 200,000,000 183,335,371 191,141,327 158,858,190 150,000,000 110,791,806 100,000,000 Jul-08 Jul-09 Jan-08 Jan-09 Jun-08 Jun-09 Oct-08 Feb-08 Feb-09 Sep-08 Sep-09 Dec-08 Apr-08 Apr-09 Mar-08 Mar-09 Aug-08 Aug-09 Nov-08 May-08 May-09 Prepared by: Raymond Stoklosa The Ray Chel Realty Group (650) 655-2500 Copyright © 2009 The RayChel Realty Group. All rights reserved. info@RayChelRealtyGroup.com

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