| San Mateo Coastside | Feb-16 | Jan-17 | Feb-17 | MoM* | YoY * |
| Closed Sales, $ Volume | $31,441,012 | $27,275,857 | $24,778,550 | -9.2% | -21.2% |
| Closed Sales, # Homes | 29 | 25 | 24 | -4.0% | -17.2% |
| Number of Homes Active | 66 | 71 | 60 | -15.5% | -9.1% |
| Number of Homes Pending | 42 | 32 | 37 | 15.6% | -11.9% |
| Months of Inventory | 2.3 | 2.8 | 2.5 | -10.7% | 8.7% |
| Median Days on Market | 17 | 20 | 20 | 0.0% | 17.6% |
| Ave Days on Market | 75 | 20 | 14 | -30.0% | -81.3% |
| Median Sale Price | $875,000 | $928,357 | $883,500 | -4.8% | 1.0% |
| Ave Sale Price | $1,084,173 | $1,091,034 | $1,032,440 | -5.4% | -4.8% |
| Ave Price per Square Foot | $611 | $640 | $572 | -10.6% | -6.4% |
| Sold Price vs. Asking Price | 103.2% | 101.5% | 99.8% | -1.7% | -3.3% |
Signs of a shift in the coastside real estate market are beginning to surface. Sales volume is down month over month and year over year. Median days on the market is creeping up to 3 weeks from 2.5 weeks last year. Median sales prices are holding their own, but average sales prices are notably down. However, the most telling stat is the sold vs asking price ratio which dipped slightly below the 100 percent threshold for the first time in two years. Ratios dropping below 100% historically correlate to a shift from a seller’s market to a buyer’s market. Rising mortgage rates may be beginning to drag on the market, but with a scant 60 homes for sale it’s bound to be a tug of war.
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