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This is a San Mateo Real Estate Market Report for June 2012. ?Housing inventory has been decreasing for awhile now. ?In February I wrote, Where?s all the houses for sale in San Mateo?? ?And then in March?this post about the lack, not only in San Mateo, but other parts of the country.
Exactly what you?d expect to happen is seen in this chart. ?Supply is going down and prices are going up.
There are currently 74 homes for sale in San Mateo.
- Highest priced home is 642 Costa Rica ? $2,195,000
- Lowest price is a bank-owned home 224 North Humboldt for $359,500. ?We should have a contest to guess how many offers and how much over the asking price this one will go for.
- Under contract: ?99
26 homes sold in San Mateo during the month of June. ?17 of those homes sold at or over the asking price.
- The high: ?552 Edinburgh ? 5 bedroom ? 3 bath ? sold for $1,760,000. ?More than $200,000 over its asking price.
- The low: ?1842 Royal ? 3 bedroom ? 2 bath ? sold for $415,000. ?Just about $20,000 under its asking price.
The Median price for San Mateo homes listed in June was $650,000 with an average price of $788,770.
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