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Mid April Real Estate Market Update – San Mateo County – Wilson Leung andAssociates

Wilson Leung, Own Real Estate

Single Family Residences – List to Sales Prices

Single Family Homes are selling for about 110% above list price. Compared to last year in May, list to sales was around 100.5%.

Condos/Townhomes – List to Sales Prices

Condos/Townhomes are selling for about 102% above list price. Compared to last year in May, list to sales was around 99.75%.

Single Family Residences – For Sale vs Sold

Single Family Residence Invetory has been consistently lower compared to the past year. We’ve seen slight increases in available inventory however each respective month in 2021 has seen less than 500 for sale.

Condos/Townhomes – For Sale vs Sold

Condos/Townhomes have also seen a minimal amount of inventory available. Overall, inventory for condos/townhomes has been under 300 total for sale.

Single Family Residences – Sales Prices Over Time

The median sales pricesfor Single Family Residences has hit new peaks in the last 12 months.

Condos/Townhomes – Sales Pricea Over Time

Condos/townhome sales prices have hovered and have not reached new peaks during 2021.

Current Mortgage and Refinance Rates – Wells Fargo

Mortgage rates have gone down from two weeks ago. The 30 year fixed rate jumbo loan is currently at 3.00% compared to 2 weeks ago around 3.125%.

Tracked Showings in California – Showingtime

Showings continue to outpace that of 2020 and 2019.

Thank you for reading to the end of this quick market update.

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