The absorption rate is a quick way to see if San Mateo houses are climbing in inventory or declining. It’s just one piece used to evaluate pricing.
What you’re looking at is how many months’ inventory there is on the market. The assumption is that it will take X number of months for all of the houses currently on the market to sell. More inventory = longer to sell.
You can also see if San Mateo houses are in 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.
Little inventory means more competition for buyers out there trying to find a home.
Belmont
1
Burlingame
2
Daly City
*
Foster City
2
Half Moon Bay
7
Millbrae
2
Pacifica
1
Redwood City
1
Redwood Shores
*
San Bruno
*
San Carlos
1
San Mateo
*
South San Francisco
*
Real Estate Is Local
Remember, real estate is local. It’s important to dig deeper, neighborhood by neighborhood. But this gives us a good snapshot that inventory is down in these areas making it – without any doubt – a seller’s market.
Vicki Moore, Realtor
Alain Pinel Realtors, specializing in San Mateo, CA Real Estate.
Need real estate help?
Contact me at 650.888.9268 or Vicki[@]CallVicki.com.
Foster City is located on the Peninsula of San Francisco. It’s a city of approximately 30,000 residents and is located adjacent to Highway 101 making it a hot location for those biotech and hitech commuters.
Pacifica is a Northern California coastal town of approximately 40,000 and is located about 15 minutes south of San Francisco. The fog can come in at a moment’s notice so you’ll always want to have a sweater handy.
Half Moon Bay has just 12,500 residents. It’s a quaint small town with a true Main Street. And is home to the world famous Maverick’s surfing competition which is on alert right now! They’re waiting for the right waves to call the competitors in for the competition.
Redwood City has made major upgrades to its downtown that includes a new movie theater and restaurants. The Courthouse Square hosts a variety of events including free evening movies, live bands and dancing. Check the calendar for the next great event.
San Carlos has been one of the more stable real estate markets in San Mateo County. It has great weather, high-ranking schools, and plenty of shopping and restaurants.
Thanks for reading the San Mateo Real Estate Blog.
I love questions and comments. So please leave one!
Vicki Moore, Realtor
Alain Pinel Realtors, specializing in San Mateo, CA Real Estate.
Need real estate help?
Contact me at 650.888.9268 or Vicki[@]CallVicki.com.
San Mateo is a Northern California city of approximately 92,000 people and is located between Burlingame to the north – Belmont to the south and is about 15 minutes south of San Francisco. The weather in San Mateo is mild all year round making it a perfect place to enjoy all the parks and open space we have.
Thanks for reading the San Mateo Real Estate Blog.
I love questions and comments. So please leave one!
Vicki Moore, Realtor
Alain Pinel Realtors, specializing in San Mateo, CA Real Estate.
Need real estate help?
Contact me at 650.888.9268 or Vicki[@]CallVicki.com.
Burlingame is located on the Peninsula of the San Francisco Bay Area. It’s just south of the San Francisco Airport. Its current population is about 28,000.
Thanks for reading the San Mateo Real Estate Blog.
I love questions and comments. So please leave one!
Vicki Moore, Realtor
Alain Pinel Realtors, specializing in San Mateo, CA Real Estate.
Need real estate help?
Contact me at 650.888.9268 or Vicki[@]CallVicki.com.
Daly City is located adjacent to San Francisco and has just about every store and restaurant you can think of and excellent public transportation to boot.
Daly City’s housing inventory has dropped like a lead balloon over the past year creating multiple offers, rising prices and frustrated buyers. What’s to come for Daly City’s housing market? Only time will tell.
Homes for Sale in Daly City
Active Listings: 108 homes
New Listings: 40 homes
Sold Listings: 30 sales
Daly City Home Sales Price Info
Median Sales Price: $494,000
Average Sales Price: $509,997
Sale Price to List Price Ratio: 103.56%
Average Number of Days to Sell: 29
In plain language: the upward swing in Daly City real estate is still climbing. On average it’s taking 29 days for houses to sell 3.56% over the asking price. What bad market?
Thanks for reading the San Mateo Real Estate Blog.
I love questions and comments. So please leave one!
Vicki Moore, Realtor
Alain Pinel Realtors, specializing in San Mateo, CA Real Estate.
Need real estate help?
Contact me at 650.888.9268 or Vicki[@]CallVicki.com.
The most obvious trend to continue through November and December is the lack of inventory in what are considered first-time home buyer areas such as Colma, Daly City, East Palo Alto, San Bruno and South San Francisco.
Redwood City has such varied neighborhoods you can’t describe it as just one housing style or price point. But the inventory has gone down significantly over the year; without more research I can’t say for sure but I wonder if that drop is partly related to the first-time buyers and investors out there competing for those short sales.
I’ve read several reports. Seems that once again opinions are like ears. Some say they’ll stay the same; some say they’ll rise.
You’re Not Buying A House – You’re Buying A Loan
Let’s play with interest rates. If you’re getting a loan of $600,000 at 5% you’ll be paying about $3200 in monthly payments.
$600,00 at 5.5% is $3400 a month.
Jan
Feb
March
April
May
June
July
Aug
Sept
Oct
Nov
Dec
Atherton
25
18
8.6
10.8
4.6
2.8
3.4
3.7
2.3
4.6
3
3
Belmont
3
2
2.3
2
1.5
1.7
1.4
1
2.6
1
2
1
Brisbane
2
6
5
3
5
3
4.3
2.6
1.7
2
2
1
Burlingame
3.6
4
3
1.6
1.9
1.6
2
2.2
2.4
2
1
1.5
Colma
6
1
2.5
1
1
1
1
3
1
0
*
*
Daly City
1.3
1
1
1
1
1
1
1
1
*
*
*
East Palo Alto
1.3
1.6
1.4
2.4
1
1
1
1
1
*
*
*
El Granada
5
31
11
9
6
3.6
2.8
2.7
5.4
3
5
4
Foster City
6.5
10.7
10
2.8
2
1.5
1.4
2
2
2
1
1
Half Moon Bay
7.6
11
7.5
16
6
7.9
5.5
3.6
3.8
3
3
3
Hillsborough
7.7
12.8
5.9
5.9
4.3
4.7
5.9
2.8
4.4
3
3
3
La Honda
8
5
3.7
6
4.7
6
5.5
4
3.3
2
1.5
2
Loma Mar
1
1
1
0
1
1
0
1
1
1
1
*
Menlo Park
3.5
3.4
4
1.9
1.7
1.8
2.9
2.2
1.9
2
2
1.6
Millbrae
5.9
9.5
3
1.6
1.2
2.3
2
2.2
1.7
2
*
1.6
Montara
18
17
16
4.5
3.6
3.4
4.3
3.5
3.3
4
14
2
Moss Beach
10
16
7
5.5
12
4.5
5
3.7
6
13
3
9
Pacifica
2.8
2.8
1.9
1.3
1
1
1
1
1
1
1
1
Pescadero
8
4
5
2
3
3
2
2.5
9
2
3
4
Portola Valley
11
3.8
3.4
2.8
5.5
3.4
5.5
3.1
3
2
3
4
Redwood City
3.3
2.5
2.4
2.3
1.8
1.5
1.5
1.2
1.3
1
1
1
Redwood Shores
4.7
9
6
2
3
2.3
3.3
3.2
1.9
2
2
*
San Bruno
1.6
1.4
1.5
1
1
1
1
1
1
*
*
*
San Carlos
3.8
2.3
2.8
2
2.2
1.6
1.9
1.8
1.9
1.5
1
2
San Gregorio
2
2
1
2
3
1
1
2
3
3
2
2
San Mateo
2.9
3
2
2
1.6
1.3
1.3
1
1
1
1
*
So San Francisco
2.5
1.7
1.4
1
1
1
1
1
1
*
*
*
Woodside
16
6.8
7.3
7
7.6
6.8
9.3
13
7.7
5
7
6
Real Estate Absorption Rates
The absorption rate is a quick way to see if the number of homes for sale in San Mateo County is going up or down. It’s just one of the statistics used to evaluate pricing.
What you’re looking at is how many months’ inventory there is on the market. The assumption is that it will take X number of months for all of the houses currently on the market to sell. More inventory = longer to sell.
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.
Thanks for reading the San Mateo Real Estate Blog.
I love questions and comments. So please leave one!
Vicki Moore, Realtor
Alain Pinel Realtors, specializing in San Mateo, CA Real Estate.
Need real estate help?
Contact me at 650.888.9268 or Vicki[@]CallVicki.com.
