I’ve gone on and on about median prices and what they mean. You can catch my soapbox theory at that post.
Here’s the straight dope: The median prices are calculated by looking at the MSA or Metropolitan Statistical Area. As Realtor.org says, MSA’s “are as defined by the U.S. Office of Management and Budget and include the specified city or cities and surrounding suburban areas.” What’s that mean? It means that San Mateo County is lumped in with San Francisco, Oakland and Fremont.
California existing home sales
| 2005 | 2006 | 2007 | 2007.III | 2007.IV | 2008.I | 2008.II r | 2008.III p | Qtr. | Yr. |
| % Change | % Change | ||||||||
| 601.1 | 459.9 | 355.0 | 314.4 | 305.2 | 310.0 | 388.8 | 498.0 | 28.1% | 58.4% |
San Francisco-Oakland-Fremont Metropolitan Statistical Area
| 2005 | 2006 | 2007 | 2007.III | 2007.IV | 2008.I | 2008.II r | 2008.III p | % Change |
| 715.7 | 752.8 | 805.4 | 824.2 | 778.0 | 701.7 | 684.9 | 615.7 | -25.3% |
San Mateo County Median Sales Price Q3 2007 & 2008
| 2007 Q3 | 2008 Q3 | % of Change | |
| San Mateo County | 1,147,720 | 777,777 | -47 |
| Atherton | 4,300,000 | 3,925,000 | -9 |
| Belmont | 937,250 | 900,000 | -4 |
| Brisbane | 1,025,000 | 860,000 | -7 |
| Burlingame | 1,359,000 | 1,212,000 | -11 |
| Daly City | 710,000 | 560,000 | -22 |
| East Palo Alto | 584,900 | 315,000 | -47 |
| El Granada | 970,500 | 655,000 | -33 |
| Foster City | 1,175,000 | 1,088,000 | -8 |
| Half Moon Bay | 1,150,000 | 859,837 | -26 |
| Hillsborough | 2,852,000 | 2,323,750 | -19 |
| La Honda | 665,000 | 250,000 | -63 |
| Loma Mar | 647,500 | 1,100,000 | 69 |
| Menlo Park | 1,207,000 | 1,340,000 | 11 |
| Millbrae | 975,000 | 980,000 | 0.5 |
| Montara | 1,145,000 | 847,500 | -26 |
| Moss Beach | 819,000 | 700,000 | -15 |
| Pacifica | 728,825 | 580,000 | -21 |
| Pescadero | 645,000 | 2,150,000 | 97 |
| Portola Valley | 2,430,000 | 2,050,000 | -16 |
| Redwood City | 872,500 | 790,000 | -10 |
| Redwood Shores | 1,194,000 | 1,065,000 | -11 |
| San Bruno | 755,500 | 599,500 | -21 |
| San Carlos | 1,151,000 | 1,020,000 | -12 |
| San Mateo | 945,400 | 825,000 | -13 |
| South San Francisco | 700,000 | 580,000 | -18 |
| Woodside | 2,335,000 | 1,600,000 | -32 |
Got a San Mateo County real estate question? Call me at 650.888.9268 or send me an email Vicki [at] CallVicki.com. If you like what you’ve read, subscribe to the San Mateo Real Estate Blog feed.
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