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Friday,February 12,2010 |
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In order to better understand the real estate trends for our local area, I regularly consult regional statistics published monthly by experts in our field.
Let’s look first at the number of homes for sale per month versus those sold. To review 2009, the lowest months of closings were January and February. The highest number of closings occurred in October. Last March, there were more homes for sale than during any other month of 2009. By December, the number of available homes dropped to the lowest number of the year. Here is a chart of San Mateo County activity.
As you can see, sales increased towards the end of 2009 and available inventory started to decrease, both good signs. Usually the height of the market is in late spring, but, as this chart shows, the trend stayed constant with a bit of a surge towards the end of the year. This likely reflects the desire of many buyers to take advantage of lower prices.
This second chart shows months of inventory. This means that at any given month, without any new listings coming on the market, it would take xxx number of months to sell all current inventory giving that month's level of sales. The traditionally held notion is that if there is over 6 months of inventory, it is a “buyers” market. Conversely, if there is less than 3 months of inventory, it is a "seller’s" market. As you can see, months of inventory was dropping in the second half of 2009. It is very typical to see January numbers jump as we start a new year.
Data trends change each year. But these trends provide insight into what we might expect for the upcoming year. The potential conclusion of the new home-buyers tax incentive in April may change the peaks and valleys of this graph, and you can be sure that I will be following these trends closely and keeping you in the loop with monthly, regionally relevant statistics. |
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FEATURED PROPERTIES |
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| City |
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San Bruno |
| Bed/Bath |
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2/2 |
| Sq ft |
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N/A |
| Asking Price |
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$312,000 |
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| City |
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San Mateo |
| Bed/Bath |
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2/1 |
| Sq ft |
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N/A |
| Asking Price |
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$748,000 |
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| City |
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S. San Francisco |
| Bed/Bath |
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4/2.5 |
| Sq ft |
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2410 |
| Asking Price |
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$868,000 |
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| City |
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San Carlos |
| Bed/Bath |
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3/2 |
| Sq ft |
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2050 |
| Asking Price |
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$1,385,000 |
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| City |
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San Mate |
| Bed/Bath |
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1/1 |
| Sq ft |
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692 |
| Asking Price |
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$395,000 |
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| City |
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San Mate |
| Bed/Bath |
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2/1 |
| Sq ft |
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918 |
| Asking Price |
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$435,000 |
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| City |
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Foster City |
| Bed/Bath |
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3/2 |
| Sq ft |
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1,540 |
| Asking Price |
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$798,000 |
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| City |
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San Mateo |
| Bed/Bath |
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2/2 |
| Sq ft |
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N/A |
| Asking Price |
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$529,000 |
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| City |
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San Mateo |
| Bed/Bath |
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2/2 |
| Sq ft |
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1213 |
| Asking Price |
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$535,000 |
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| City |
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San Mateo |
| Bed/Bath |
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3/2.5 |
| Sq ft |
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1312 |
| Asking Price |
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$775,000 |
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| City |
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Redwood City |
| Bed/Bath |
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5/3 |
| Sq ft |
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N/A |
| Asking Price |
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$1,399,950 |
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| City |
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San Mateo |
| Bed/Bath |
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2/2.5 |
| Sq ft |
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1,254 |
| Asking Price |
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$750,000 |
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| City |
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San Mateo |
| Bed/Bath |
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2/1 |
| Sq ft |
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1,130 |
| Asking Price |
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$935,000 |
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| City |
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Redwood City |
| Bed/Bath |
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4/3.5 |
| Sq ft |
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2,951 |
| Asking Price |
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$1,626,000 |
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