San Mateo Coastside – August 2013 Market Update

 

San Mateo Coastside August 2013 Jul-13 % Change
Closed Sales, $ Volume $40,752,388 $41,424,788 -1.6%
Closed Sales, # Homes  52  53 -1.9%
Homes Active or Pending  208  195 6.7%
Months of Inventory  4.0  3.7 8.1%
Ave Days on Market (sold)  40  47 -14.9%
Median Sale Price $670,750 $740,000 -9.4%
Ave Sale Price $783,700 $781,600 0.3%
Ave Price per Square Foot (sold) $475 $442 7.5%
Sold Price vs. Asking Price 101.6% 102.3% -0.7%

 

August was another strong month for residential real estate on the San Mateo coast.  Although the number of homes sold and the total dollar volume of homes sold decreased slightly from July to August, this could just as likely be the result of the slower sales activity common in late summer as it could be often touted external factors such as higher interested rates.  Interesting was the sharp move up in the price per square foot ratio last month to $475 a square foot.  According to MLS Listings data, this is the highest price per square foot ratio we’ve seen on the coast in over five years.  The average sale price for homes on the coast also increased slightly to $783, 700 from $781,600 last month.  However, the median sale price dropped to $670,750 or 9.4% from July indicating a higher mix of lower priced homes.  The higher prices also brought in more sellers to increase the months of inventory to 4.0 months.  This is the most inventory we’ve had on the coast since the market shifted last spring.  The premium buyers are willing to pay moderated in August from 102.3% to 101.6% perhaps signaling  a subtle shift to a more balanced market.

This market update includes market data for single family homes in Pacifica, Montara, Moss Beach, El Granada, Half Moon Bay, Pescadero, La Honda, and San Gregorio as provided by MLS Listings, Inc. and CoreLogic.

Coastside Homes Sold – July 2013

 

Address City Price Beds Baths SqFt Lot Size DOM
722 COLUMBUS STREET Half Moon Bay $877,000 4 3|0 2,250 6,400 Sqft 56
938 FERDINAND AVENUE Half Moon Bay $820,000 3 2|1 2,340 5,000 Sqft 40
948 SONORA AVENUE Half Moon Bay $758,000 5 3|0 2,670 5,500 Sqft 65
11 SEA CREST COURT Half Moon Bay $699,000 3 2|0 1,400 5,940 Sqft 12
179 FRANCISCO STREET Half Moon Bay $640,000 2 2|0 1,400 3,104 Sqft 21
1050 E FRENCHMANS CREEK Half Moon Bay $1,744,000 6 2|0 0 2,927,232 Sqft 243
540 BAYHILL ROAD Half Moon Bay $1,428,000 4 3|0 3,330 7,388 Sqft 33
402 CORONADO AVENUE Half Moon Bay $1,200,000 5 4|0 3,330 8,800 Sqft 8
251 GRANELLI AVENUE Half Moon Bay $910,000 3 2|1 2,940 5,500 Sqft 71
331 MIRAMONTES AVENUE Half Moon Bay $870,000 4 3|0 2,720 7,500 Sqft 26
369 SAINT ANDREWS LANE Half Moon Bay $895,000 4 3|0 2,430 7,300 Sqft 47
2060 TOURAINE LANE Half Moon Bay $839,000 4 2|0 2,060 7,360 Sqft 2
2053 TOURAINE LANE Half Moon Bay $806,000 4 3|0 2,600 6,975 Sqft 112
325 MIRAMAR DRIVE Half Moon Bay $650,000 3 1|1 1,520 10,550 Sqft 69
418 CASA DEL MAR DRIVE Half Moon Bay $704,000 4 2|0 1,460 6,300 Sqft 9
552 FILBERT STREET Half Moon Bay $629,000 3 2|0 1,690 7,353 Sqft 12
266 5TH STREET Montara $800,000 3 2|0 1,860 7,500 Sqft 12
428 FARALLONE AVENUE Montara $730,000 4 3|1 3,020 5,000 Sqft 154
1440 HILL STREET Montara $679,000 3 2|0 2,000 5,000 Sqft 9
1047 ACACIA STREET Montara $626,000 3 2|0 1,560 6,250 Sqft 31
1635 ADOBE DRIVE Pacifica $1,200,000 4 3|1 3,323 15,028 Sqft 53
220 NATAQUA AVENUE Pacifica $910,000 5 3|0 2,340 7,904 Sqft 29
345 GENEVIEVE AVENUE Pacifica $850,000 4 3|2 2,650 4,500 Sqft 30
863 VISTA MONTARA CIRCLE Pacifica $725,000 3 2|1 1,567 4,500 Sqft 12
1120 MANZANITA DRIVE Pacifica $725,000 3 3|0 1,600 9,912 Sqft 9
538 MONTEREY ROAD,#A Pacifica $777,000 3 2|1 1,520 4,400 Sqft 14
1031 RIO VISTA DRIVE Pacifica $698,000 4 2|0 1,506 5,690 Sqft 66
517 MONTEREY ROAD,#A Pacifica $726,000 3 3|0 1,760 3,430 Sqft 20
559 BEAUMONT BOULEVARD Pacifica $765,000 3 2|0 1,700 5,880 Sqft 10
23 ALVISO COURT Pacifica $665,000 3 2|0 1,500 5,600 Sqft 6
244 BERENDOS AVENUE Pacifica $658,000 3 2|0 1,320 5,371 Sqft 15
8 HAMILTON COURT Pacifica $735,000 3 2|0 1,180 4,662 Sqft 21
479 LOMA VISTA TERRACE Pacifica $640,000 3 2|0 1,290 3,800 Sqft 25
463 ANDOVER DRIVE Pacifica $667,000 4 3|0 1,460 4,360 Sqft 3
520 RIDGEWAY DRIVE Pacifica $605,000 3 2|0 1,130 5,040 Sqft 67
435 GLASGOW DRIVE Pacifica $593,000 3 2|0 1,220 5,000 Sqft 44
1239 LERIDA WAY Pacifica $665,000 3 2|0 1,240 20,122 Sqft 9
1239 GALVEZ DRIVE Pacifica $625,000 2 2|0 1,040 8,791 Sqft 7
8 CONCHITA COURT Pacifica $642,000 3 1|0 1,010 12,900 Sqft 7
336 GLENCOURT WAY Pacifica $601,000 5 2|0 1,686 7,125 Sqft 16
1259 HERMOSA AVENUE Pacifica $588,888 3 1|0 1,040 5,000 Sqft 33
111 EASTRIDGE CIRCLE Pacifica $600,000 4 2|0 1,350 4,000 Sqft 24
380 LYNBROOK DRIVE Pacifica $636,500 3 2|0 1,310 3,800 Sqft 16
411 VISTA MAR AVENUE Pacifica $525,000 2 1|0 840 6,572 Sqft 14
307 HEATHCLIFF DRIVE Pacifica $560,000 3 2|0 1,220 5,700 Sqft 5

San Mateo Coastside – July 2013 Market Update

 

San Mateo Coastside July 2013 June 2013 % Change
Closed Sales, $ Volume $41,424,788 $51,850,363 -20.1%
Closed Sales, # Homes  53  63 -15.9%
Homes Active or Pending  195  160 21.9%
Months of Inventory  3.7  2.5 48.0%
Ave Days on Market (sold)  47  36 30.6%
Median Sale Price $740,000 $710,000 4.2%
Ave Sale Price $781,600 $823,022 -5.0%
Ave Price per Square Foot (sold) $442 $453 -2.4%
Sold Price vs. Asking Price 102.3% 102.8% -0.5%

 

Although still a strong seller’s market, the market did show signs of weakening in July.  Markedly higher mortgage rates, combined with declines in the affordability index were two of the likely culprits.  The San Mateo coast is still a great value relative to many of county’s higher priced areas.  Just how much of a value?  We will explore that further in a subsequent post.