San Mateo Coastside – June 2013 Market Update


San Mateo Coastside June 2013 May 2013 % Change
Closed Sales, $ Volume $50,425,363 $46,804,865 7.7%
Closed Sales, # Homes  61  66 -7.6%
Homes Active or Pending  224  175 28.0%
Months of Inventory  3.7  2.7 37.0%
Ave Days on Market (sold)  40  35 14.3%
Median Sale Price $710,000 $694,500 2.2%
Ave Sale Price $826,645 $709,165 16.6%
Ave Price/Square Foot (sold) $455 $456 -0.2%
Sold Price vs. Asking Price 102.6% 104.3% -1.6%


June was another strong month for real estate on the coast although some signs of moderation may have begun to appear.  The average sale price for homes in June was $826,645.  This was a solid 16.6% increase over the previous month resulting in a 7.7% rise in total dollar volume.  However, the median June sale price of $710,000 represented only a 2.2% increase over May.  The average price per square foot for homes sold in June of $455/sf was also virtually flat with May at $456/sf.  The total number of homes sold in June decreased from 66 to 61.  This indicates a skew toward higher priced home sales for the month.  The number of homes active or pending, months of inventory, and average days on the market (closed sales) all increased by double digit percentages, something to keep an eye on going forward.  This market update includes single family homes in Pacifica, Montara, Moss Beach, El Granada, Half Moon Bay, Pescadero, La Honda, and San Gregorio.