San Mateo County Real Estate Market Update: August 2018

The news from a growing number of sources points to an economic shift looming on the horizon. Fortune Magazine’s recent article “The End is Near for the Economic Boom” is representative of the cautionary tone of among many financial advisors, investors and economists that the expansionary economy we’ve had since 2009 is nearing its end.

Dramatic drops in some notable tech stocks (Facebook, Netflix to name two) may have injected further buyer caution into a market where prices were already showing signs of leveling off. In San Mateo County, we are continuing to see a change behavior. The bidding frenzy that was the norm even a few months ago has changed. Inventory is still limited, but properties are taking a bit longer to sell, with many fewer offers.

While the trend is that prices are still rising, the rate at which they are rising has continued to slow, further suggesting that the market is shifting. This is true for single family homes. Condos/townhouses seem less impacted at this point, possibly due to their lower price point.

Here’s a summary of the numbers.

The information contained in this report is taken from a variety of sources including MLSListings, the Federal Reserve Bank of San Francisco, the Bureau of Labor Statistics, The Conference Board and others. The data may have errors, omissions and be subject to revisions and is not warranted. It is deemed reliable but is not guaranteed. Questions may be directed to Keller Williams Peninsula Estates (650) 627-3700. DRE# 01906450.