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.

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