Real Estate Statistics for Peninsula Looking Up!
The new second quarter statistics are in and looking pretty good. Below are some numbers for some communities in San Mateo County. I’ll continue to make other posts for other cities in San Mateo County as well as Santa Clara County over the coming days.
Atherton real estate showed a number of sales increase by 25%, while prices on these primarily luxury homes were down only 3%. The average days on market took a big dip (which is good for sellers) as it was down 44%, which means that buyers were out in force and looking to purchase a home instead of sitting on the fence.
Menlo Park real estate also showed some gains as sales were up and prices were up. The gains were small, but it shows that Menlo Park luxury real estate is still a viable option for buyers. I say luxury real estate as prices are over a million dollars, even though they are quite significantly lower than the luxury homes of Atherton, which average out at almost $3.7 million dollars per home.
More statistics to come, but here is a start
Community Q2 2009 Q2 2010 % Change
San Mateo County
# of Sales 1,017 1,178 16%
Average Price ($000) $897 $964 7%
Avg Days on Market 69 55 -20%
Months of Inventory 3.1 3.6 16%
Atherton
# of Sales 16 20 25%
Average Price ($000) $3,788 $3,672 -3%
Average DOM 116 65 -44%
Months of Inventory 8.0 5.6 -30%
Menlo Park
# of Sales 95 101 6%
Average Price ($000) $1,324 $1,343 1%
Average DOM 55 44 -20%
Months of Inventory 2.2 2.3 5%
Redwood City
# of Sales 109 151 39%
Average Price ($000) $744 $804 8%
Average DOM 52 49 -6%
Months of Inventory 3.4 3.0 -12%
