San Mateo, CA housing market

Let's start with what San Mateo homeowners really want to know. The typical home here is worth about 1.77 million dollars, up around 1.5 percent over the past year. That's steady, modest growth, not a boom and not a slide. What tells the real story this month is how few sellers are backing off. Only about 10 percent of listings have a price cut, which is low, and it says sellers here are holding firm and getting their numbers. Inventory is thin too, with about 146 homes for sale and roughly 96 new listings coming on. That's not much to choose from. Homes are moving at a median of about thirty-seven days, a reasonable pace for this price range. One note worth flagging, the median list price sits near 1.41 million, well below the typical home value, so a lot of what's actually listed is on the smaller or lower end. If you own here and price with the market, you're in a good spot to sell without chasing buyers down.