The absorption rate is a quick way to see the direction of San Mateo’s real estate market when compared to a previous period. You can also see if the area is a buyer or a sellers’ market.
The National Association of Realtors defines a balanced market as one is which there is 6 months of inventory. More than 6 months, it’s a buyers’ market; less is a sellers’ market.
The most striking is Daly City. I checked the numbers twice. From ten months inventory – clearly a buyers’ market – to 2 months last month.
San Bruno and South City also show quite a change: 7 months to 2 this past month.
July 2008, 2007, 2006 absorption rates
| 8/30/2008 | 8/30/2007 | 8/30/2006 | |
| Atherton | 14 | 2.9 | 2.9 |
| Belmont | 3.8 | 1.9 | 1.1 |
| Brisbane | 5.5 | 1.7 | 11 |
| Burlingame | 2.1 | 3.1 | 2.7 |
| Colma | 4 | 4 | 1 |
| Daly City | 1.96 | 10.7 | 2.4 |
| El Granada | 2.7 | 5 | 3.7 |
| Foster City | 1.2 | 2 | 1.2 |
| Half Moon Bay | 3.8 | 12 | 4.7 |
| Hillsborough | 4.1 | 2.6 | 3.1 |
| La Honda | 6.5 | 6 | 3 |
| Loma Mar | 3 | 2 | 4 |
| Menlo Park | 4.1 | 2.8 | 3.5 |
| Millbrae | 2 | 3.3 | 2.9 |
| Montara | 10 | 5.3 | 11 |
| Moss Beach | 2.4 | 5 | 5 |
| Pacifica | 2.97 | 4.7 | 3 |
| Pescadero | 10 | 4.3 | 6.5 |
| Portola Valley | 10.5 | 2.8 | 9 |
| Redwood City | 2.9 | 4.4 | 1.8 |
| Redwood Shores | 0 | 1.8 | 4 |
| San Bruno | 1.7 | 7 | 1.6 |
| San Carlos | 1.8 | 1.9 | 1.6 |
| San Gregorio | 2 | 2 | 3 |
| San Mateo | 2.4 | 3.4 | 1.9 |
| South San Francisco | 1.98 | 7.7 | 2.8 |
| Woodside | 8.6 | 5.9 | 7.7 |
Got a San Mateo County real estate question? Call me at 650.888.9268 or send me an email Vicki [at] CallVicki.com. You can also subscribe to my blog feed by clicking here.
All the best,
Vicki Moore
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