San Mateo Home Buyer Demand Is Outpacing the Supply of Homes for Sale

Vicki Moore
Published on February 7, 2017

San Mateo Home Buyer Demand Is Outpacing the Supply of Homes for Sale

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The price of any item is determined by the supply of that item, as well as the market demand. The National Association of REALTORS (NAR) surveys “over 50,000 real estate practitioners about their expectations for home sales, prices and market conditions” for the REALTORS Confidence Index.

The latest edition sheds some light on the relationship between Seller Traffic (supply) and Buyer Traffic (demand) based on the opinion of those working the markets every day.

Buyer Demand

The map below was created after asking realtors the question: “How would you rate buyer traffic in your area?”

The darker the blue, the stronger the demand for homes in that area. Only six states had a weak demand level.

Keep in mind, this is a nationwide survey.  They’re breaking the info down by state, not by county, market or neighborhood.  California has hundreds of markets all going at different paces.  If this was focused on the San Mateo home sales market, Mid Silicon Valley would be – forget about dark blue – it would be black!

map of US showing buyer traffic in each state

Seller Supply

The Index also asked realtors: “How would you rate seller traffic in your area?”

Just like yesterday’s statistics showed in the January market report, the Mid Silicon Valley real estate market is suffering from a shortage of inventory – again.

As you can see from the map below, the majority of the country has weak Seller Traffic, meaning there are far fewer homes on the market than what is needed to satisfy the buyers who are out looking for their dream homes.

map of US showing home seller inventory by state

Bottom Line

Looking at the maps above, it is not hard to see why prices are appreciating in many areas of the country. Until the supply of homes for sale starts to meet the buyer demand, prices will continue to increase. The fewer the houses, the faster the increase.  If you are debating listing your home for sale, let’s get together to help you capitalize on the demand in the market now!

Let’s get specific to San Mateo homes for sale

 

Street No Street Name List Price Days on Market San Mateo Neighborhood
1520 ROBERTA $2,888,950 92 Parkside
1659 Borden $995,000 5 Parkside
235 Kingston $1,299,999 58 North Shoreview / Dore Cavanaugh
1632 York $948,000 1 North Shoreview / Dore Cavanaugh
818 Idaho $1,498,000 18 Bowie Estate Etc.
908 Humboldt $1,275,000 39 Bowie Estate Etc.
805 Highland $1,599,000 162 Eastern Addition/Downtown
24 Poplar $949,000 1 Eastern Addition/Downtown
631 Harrow $1,238,000 12 19th Avenue Park / Sunnybrae
402 Poinsetia $1,383,000 5 San Mateo Village/Glendale Village
69 Poinsettia $998,000 11 San Mateo Village/Glendale Village
152 Sylvan $1,098,000 4 Park Western Subdivision/Hillsdale
312 Portola $1,895,000 55 Beresford Manor Etc.
868 Overlook $1,995,000 197 Laurelwood Etc.
1952 Timberlane $1,750,000 102 Baywood Park Etc.
915 Edinburgh $1,591,000 3 Aragon
513 Iowa $2,200,000 4 Baywood Knolls
10 Melrose $2,100,000 26 Baywood Knolls

Today, there are 18 homes for sale in all of San Mateo.

There are 27 homes under contract.

Those numbers are telling us that there are not enough homes for sale to satisfy the buyers out there in the San Mateo home sales market:  There are more under contract than are available for sale.  It’s not a huge difference unless you’re a buyer trying to purchase a home.

If you follow our guidelines in preparing your San Mateo home for sale, there’s no need to wait until Spring when everyone else is going to sell their house.  There will be more inventory and more competition for you.

 


vicki-moore-realtor-150x150Thanks for taking the time to read this article. Feel free to leave a comment in the message box below, or to share this article on social media with someone who might benefit from it. I appreciate your time and am always open to questions, suggestions and ideas from our readers. Feel free to contact me by phone at 650-888-9268 or anytime at vicki@callvicki.com

 

I help home buyers and sellers in Mid Silicon Valley focusing on the cities of  Foster City Homes and Condos For SaleRedwood City Homes and Condos For SaleRedwood Shores Homes and Condos For SaleSan Carlos Homes and Condos For SaleSan Mateo Homes and Condos For Sale.

If there’s anything I can do to help you, please let me know.

Thank you, talk soon!
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