Market Data

Coastside Real Estate Update November 2015

San Mateo Coastside	Nov-14	Oct-15	Nov-15	MoM*	YoY *
Closed Sales, $ Volume	$55,126,250	$44,954,900	$39,639,000	-11.8%	-28.1%
Closed Sales, # Homes	51	49	37	-24.5%	-27.5%
Number of Homes Active	88	94	75	-20.2%	-14.8%
Number of Homes Pending	30	59	43	-27.1%	43.3%
Months of Inventory	1.7	1.9	2.0	5.3%	17.6%
Median Days on Market	26	15	16	6.7%	-38.5%
Ave Days on Market	57	35	38	8.6%	-33.3%
Median Sale Price	$870,000	$830,000	$920,000	10.8%	5.7%
Ave Sale Price	$1,080,907	$917,447	$1,071,324	16.8%	-0.9%
Ave Price per Square Foot	$538	$564	$556	-1.4%	3.3%
Sold Price vs. Asking Price	101.8%	104.5%	102.1%	-2.3%	0.3%

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.

* MoM = Month over month change, YoY = Year over year change

Coastside Real Estate Update July 2015

08.26.15 by Donald Miele

San Mateo Coastside	Jul-14	Jun-15	Jul-15	MoM*	YoY *
Closed Sales, $ Volume	$46,434,982	$44,359,043	$51,721,600	16.6%	11.4%
Closed Sales, # Homes	57	47	53	12.8%	-7.0%
Number of Homes Active	141	88	85	-3.4%	-39.7%
Number of Homes Pending	64	50	51	2.0%	-20.3%
Months of Inventory	2.5	1.9	1.6	-15.8%	-36.0%
Median Days on Market	16	13	14	7.7%	-12.5%
Ave Days on Market	33	17	28	64.7%	-15.2%
Median Sale Price	$755,000	$801,000	$855,000	6.7%	13.2%
Ave Sale Price	$814,649	$943,597	$975,879	3.4%	19.8%
Ave Price per Square Foot	$513	$594	$576	-3.0%	12.3%
Sold Price vs. Asking Price	101.8%	105.3%	102.8%	-2.4%	1.0%

Looking at the numbers for July, everything continues to look good for sellers of San Mateo Coastside real estate. The scorching hot spring market has cooled slightly, but is still quite hot. The average sale price for a Coastside single family home was $975,879 in July up from only $814,659 last year for a nice rise of 19.8 percent. Median sale prices and price per square foot trends show similar strong growth. Inventory was still low compared to last year with 1.6 months of homes on the market down from 2.5 months last year, but higher than the ridiculously low 1.2 months of inventory we saw in April. Homes continue to sell fast. It took only 14 days to sell a home in July, one day more that the previous month (median). One sign of waining strength in the market is the month over month decrease in the Sold Price vs. Asking Price ratio backing off to 102.8 percent from a super strong 105.3% in June. Anything over 100 indicates a sellers market and it certainly is still that. It will be interesting to see if the recent volatility in the stock market has any impact on the real estate data for August. We’ll see soon enough.

* MoM = Month over month change, YoY = Year over year change

Coastside Real Estate Update April 2015

05.28.15 by Donald Miele

San Mateo Coastside	Apr-14	Mar-15	Apr-15	MoM*	YoY *
Closed Sales, $ Volume	$43,555,800	$47,053,100	$69,077,888	46.8%	58.6%
Closed Sales, # Homes	53	52	68	30.8%	28.3%
Number of Homes Active	126	74	76	2.7%	-39.7%
Number of Homes Pending	65	60	73	21.7%	12.3%
Months of Inventory	2.4	1.4	1.1	-21.4%	-54.2%
Median Days on Market	10	12	12	0.0%	20.0%
Ave Days on Market	29	32	29	-9.4%	0.0%
Median Sale Price	$730,000	$851,125	$862,500	1.3%	18.2%
Ave Sale Price	$821,808	$904,867	$1,015,851	12.3%	23.6%
Ave Price per Square Foot	$495	$525	$551	5.0%	11.3%
Sold Price vs. Asking Price	102.9%	102.2%	105.1%	2.8%	2.1%

There is only one way to describe the Coastside real estate market in April — Hot, Hot, Hot!! “On Fire” may actually be more appropriate. Nearly all the metrics above confirm the tongue-in-cheek analogy. There were 68 homes sold on the Coastside in April, roughly 30 percent more than last year. Months of Inventory on the market shrunk to less than half last year’s supply. Home prices as measured by Median Sale Price, Average Sale Price, and Average Price per Square Foot were all up sharply versus last year. However, the telltale sign of a market on fire is the Sold vs. Asking Price Ratio. Anything over 100% indicates a good seller’s market since the buyers are on average paying more than what the sellers are asking. Last month, the Sold vs. Asking Price Ratio was 105.1%! The highest number in the over 10 years. The crazy thing is May looks to be even hotter, ouch!

* MoM = Month over month change, YoY = Year over year change

Coastside Market Update Feb 2015

03.18.15 by Donald Miele

San Mateo Coastside	Feb-14	Jan-15	Feb-15	MoM*	YoY *
Closed Sales, $ Volume	$26,659,000	$20,204,000	$33,125,000	64.0%	24.3%
Closed Sales, # Homes	31	25	30	20.0%	-3.2%
Number of Homes Active	112	65	63	-3.1%	-43.8%
Number of Homes Pending	40	37	45	21.6%	12.5%
Months of Inventory	3.6	2.6	2.1	-19.2%	-41.7%
Median Days on Market (sold)	44	16	32	100.0%	-27.3%
Ave Days on Market (sold)	69	27	105	288.9%	52.2%
Median Sale Price	$696,000	$770,000	$906,500	17.7%	30.2%
Ave Sale Price	$859,968	$808,160	$1,104,167	36.6%	28.4%
Ave Price per Square Foot (sold)	$516	$492	$585	18.9%	13.4%
Sold Price vs. Asking Price	102.5%	102.6%	99.8%	-2.7%	-2.6%

Single family home sales volume on the Coastside exploded in February. Sales by dollar volume increased 64% over the previous month and 24% over the same time last year. Several positive factors came together to create an exceptionally fast moving seller’s market. Interest rates that looked like they were heading up early in the year settled back down in February possibly inspiring on-the-fence buyers into action. A wave of new inventory also came on the market late in January allowing sidelined buyers to jump in aggressively. Strong upward price moves in neighboring communities on the peninsula and in the valley have created some dramatic relative home values on the coast. The spectacular weather also no doubt played a role. Perhaps motivating a few blizzard weary New England visitors to relocate. Unfortunately, the rash of buying during the month did leave us with only 63 active homes on the market at the end of February down from 112 last year. Not surprising, average and median home prices also moved up sharply last month as did average prices as measured on a “per square foot” basis. Much of the rest of the data in the chart above was influenced by the sale of a few large estates on the south coast that had been on the market a while skewing Days on the Market and Sold vs. Asking price ratios. Still a wonderful way to start off the spring selling season.

* MoM = Month over month change, YoY = Year over year change

Coastside Market Update Jan 2015

02.16.15 by Donald Miele

San Mateo Coastside	Jan 2014	Dec 2014	Jan 2015	MoM*	YoY*
Closed Sales, $ Volume	$25,749,020	$30,899,550	$20,204,000	-34.6%	-21.5%
Closed Sales, # Homes	34	34	25	-26.5%	-26.5%
Number of Homes Active	106	71	61	-14.1%	-42.5%
Number of Homes Pending	32	24	38	58.3%	18.8%
Months of Inventory	3.1	2.1	2.4	14.3%	-22.6%
Median Days on Market (sold)	22	14	16	14.3%	-27.3%
Ave Days on Market (sold)	52	31	27	-12.9%	-48.1%
Median Sale Price	$693,000	$792,500	$770,000	-2.8%	11.1%
Ave Sale Price	$757,324	$908,810	$808,160	-11.1%	6.7%
Ave Price per Square Foot (sold)	$486	$546	$492	-9.9%	1.2%
Sold Price vs. Asking Price	102.5%	101.8%	102.6%	0.8%	0.1%

In January 2015 sales activity on the coast decreased on both a monthly and on a year over year basis. The inventory of home available to buy also decreased. However, it is interesting to note that the number of homes pending (in contract to be sold) increased in January indicating that even though there were less homes to sell they were being sold quicker. This observation is supported by the January Days on Market numbers above. Average sales prices for homes on the Coastside softened a bit in January compared to December, but we were still up from a year ago by 11.1% (median sale prices). It is important to call out the Average Sold Price to Asking Price Ratio increased to a strong 102.6% in January! This means we still have a formidable seller’s market with active home buyers on average willing to pay over the asking price for Coastside homes. From my perspective as an agent specializing in Coastside real estate, the market feels like it is heating up again supported by continued low interest rates, increasing wages and employment, and low valuations relative to elsewhere on the Peninsula.

* MoM = Month over month change, YoY = Year over year change

Coastside Market Update Dec 2014

01.10.15 by Donald Miele

Coastside – Single Family	Nov 2014	Dec 2014	MoM Change	YoY Change
Closed Sales, $ Volume	$55,126,250	$28,569,550	-48.2%	-25.9%
Closed Sales, # Homes	51	31	-39.2%	-26.2%
Number of Homes Active	79	62	-21.5%	-38.0%
Number of Homes Pending	33	27	-18.2%	-6.9%
Months of Inventory	1.5	2.0	33.3%	-25.9%
Median Days on Market (sold)	26	15	-42.3%	-53.1%
Ave Days on Market (sold)	57	33	-42.1%	-49.2%
Median Sale Price	$870,000	$780,000	-10.3%	0.6%
Ave Sale Price	$1,080,907	$921,598	-14.7%	0.4%
Ave Price per Square Foot (sold)	$538	$540	0.4%	19.5%
Sold Price vs. Asking Price	101.8%	101.5%	-0.3%	1.7%

December saw a steep seasonal slowdown in home sales compared to November. Year over year sales also slowed 26%. However, the real story on the coast continues to be inventory. At just 2 months of inventory we were down 33 percent from last year. The reason appears to be quicker sales, just 33 days on average. Sales prices per square foot edged up slightly in December versus November but jumped nearly 20% from the previous year. On average, sellers are still getting more than their asking price indicating continued strong demand for homes on the coastside. Hopefully the new year will usher in more inventory for those desiring to live in this beautiful area.

San Mateo Coastside – January 2014 Market Update

02.07.14 by Donald Miele

San Mateo Coastside	Dec 2013	Jan 2014	%Change	YoY %Change
Closed Sales, $ Volume	$38,544,845	$23,956,020	-37.8%	8.0%
Closed Sales, # Homes	42	33	-21.4%	-10.8%
Homes Active or Pending	114	146	28.1%	50.5%
Months of Inventory	2.7	4.4	63.0%	69.2%
Median Days on Market (sold)	32	58	81.3%	383.3%
Ave Days on Market (sold)	65	66	1.5%	88.6%
Median Sale Price	$775,000	$684,000	-11.7%	21.4%
Ave Sale Price	$917,734	$748,626	-18.4%	24.9%
Ave Price per Square Foot (sold)	$452	$492	8.8%	23.9%
Sold Price vs. Asking Price	99.8%	102.9%	3.1%	1.8%

Activity on the coast visibly picked up in January with a large influx of new inventory hitting the market pushing up the available supply of home to 4.4 months, a 63% increase over last month and 69% up from this time last year. For the most part sales trends followed seasonal patterns for the slower winter months. However, interesting points to note are the 24% and 25% annual increases in average sale price and price per square foot respectively. Also, the sold to asking price ratio also spiked up in January to 102.9%, potentially indicating strong demand for the available inventory. This reverses a multi month slide in this important ratio. Along with a months of inventory reading of greater than 6 months. A sold vs asking price below 100% favors buyers vs sellers.

San Mateo Coastside – September 2013 Market Update

10.02.13 by Donald Miele

San Mateo Coastside	Sep 2013	Aug 2013	% Change
Closed Sales, $ Volume	$36,347,250	$42,147,388	-13.8%
Closed Sales, # Homes	48	54	-11.1%
Homes Active or Pending	236	177	33.3%
Months of Inventory	4.9	3.3	48.5%
Median Days on Market (sold)	19	18	5.6%
Ave Days on Market (sold)	84	38	121.1%
Median Sale Price	$706,000	$670,750	5.3%
Ave Sale Price	$759,818	$780,507	-2.7%
Ave Price per Square Foot (sold)	$435	$474	-8.2%
Sold Price vs. Asking Price	100.8%	101.5%	-0.7%

The month of September started out with a bang on the Coastside as a wave of new supply hit the local real estate market. An increase in the supply of new homes is not unusual as prices rise as the have on the coast. The number of homes active or pending this month increased a whopping 33.3 percent to 236 homes from 177. Months of available inventory increased an even greater 48.5% as the seasonal slowdown in closed sales volume in September generated less sales activity to offset the increased supply. In spite of the increase in homes on the market, well priced homes continue to move briskly. According to data provided by MLS listings data, the median number of days on the market for a single family home on the coast is still a low 19 days, persisting a trend we have seen all year. Prices also remain strong especially in the sub $800,000 price range resulting in a stronger median sales price in September, up 5.3% over the previous month. All in all, the market on the Coastside remains healthy as the dominant sellers market continues to moderate creating a more balanced environment where buyers have more choices and well priced homes sell quickly.

San Mateo Coastside – August 2013 Market Update

09.11.13 by Donald Miele

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.

Coastside Homes Sold – July 2013

09.07.13 by Donald Miele

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