San Mateo real estate specialists - Robin Wrigley & Les Wrigley

SAN MATEO MARKET MONITOR

The Peninsula real estate market is improving. Overall, home sales are up and inventory is down. Homes are selling more quickly and for higher prices.
Peninsula home sales are up 26% over last year, the best we have seen in two years. The inventory of homes is running tight, at 3.3 months of supply. The typical home for sale today will take 56 days to obtain an offer, down 28% from a year ago.
The average sales price of a home sale is $856,000, up 3.9% from a year ago. The average home is selling for 96% of its original asking price, up 3% from a year ago, showing that prices do appear to be firming up.