San Mateo County July 2020 Market Report

Demand for luxury homes has been very high, as reflected in the next 2 charts. This has certainly been one factor in the rise in the median house sales price in Q2. 

The number of active listings on the market has also bounced back, and is now slightly above the level seen last year. 

Three angles on San Mateo County house values: quarterly median sales price and average dollar per square foot values, and a longer-term perspective. 

Around the Bay Area, condo markets have not performed quite as well as house markets, in either market demand or median sales price trends.

Average days on market were the same on a year-over-year basis (and relatively low).

Overbidding asking price has become less common. Part of this is due to changes in home showing rules, which make multiple offers less likely. 

Below is a breakdown of home sales by city and bedroom count. 

The Bay Area markets with the largest year-over-year increases in the number of listings accepting offers in June 2020 were the 4 outer Bay Area counties of Monterey (up 61%), Santa Cruz (58%), Sonoma (47%) and Napa (37%). They also have among the lowest population densities in the Bay Area. The more urban counties saw more modest y-o-y increases: San Francisco (6%) and Alameda (7%). San Mateo County was between those 2 poles.