San Mateo, CA Homes for Sale

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San Mateo, CA Real Estate Market Overview

  • $1.59M

    Median Sale Price
  • $982

    Median Sale Price per Sq. Ft.
  • 61

    Total Homes Sold
  • 12

    Median Days on Market

San Mateo, CA Housing Market Trends

Welcome to San Mateo, a gem in the heart of the Bay Area, known for its vibrant community and dynamic housing market. If you're contemplating a move to San Mateo or interested in the latest market trends, this overview is tailored for you.

San Mateo's Market at a Glance

October 2023 presents an exciting picture of San Mateo's real estate landscape:

  • Market Vibrancy: San Mateo's housing market is highly competitive, reflecting a strong demand for homes in this desirable area.
  • Sales Velocity: Homes are selling rapidly, averaging just 12 days on the market, a significant decrease from 21 days last year, showcasing the market's brisk pace.
  • Pricing Dynamics: The median sale price has risen to $1.6 million, marking an 11.6% increase from last year, indicative of the area's growing appeal.
  • Square Foot Value: At $982 per square foot, the market has witnessed a steady growth of 1.1% since last year.

Migration and Relocation Trends

Understanding the movement of residents provides deeper insights into the market:

  • Leaving San Mateo: About 23% of San Mateo residents are considering a move, yet a significant 77% prefer to remain within the metropolitan area.
  • Inbound Interest: San Mateo attracts 3% of homebuyers from outside metros, particularly from Ukiah, Bloomington, and State College.
  • Preferred Relocation Spots: For those relocating, Sacramento, Los Angeles, and Seattle are top choices.

Implications for Buyers and Sellers

The vibrant and competitive nature of San Mateo's market is an important consideration for anyone looking to buy or sell property here. The rapid sales pace and increasing property values indicate a robust market with strong investment potential.

Your San Mateo Real Estate Journey

If San Mateo's real estate market has piqued your interest, or if you have questions about navigating this dynamic environment, feel free to reach out. As a real estate expert in San Mateo, I am here to assist you in finding a home that suits your needs or in selling your property in this highly competitive market. Contact me today to start your real estate journey in the lively and diverse community of San Mateo.

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