Market report for Peninsula Estates area May 2023 by Procasa Technologies, Inc

Peninsula Estates area

San Mateo County

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San Mateo City

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Burlingame City

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Hillsborough City

Jump to Hillsborough City Report

San Bruno City

Jump to San Bruno City Report

Daly City

Jump to Daly City Report

San Carlos City

Jump to San Carlos City Report

Millbrae City

Jump to Millbrae City Report

South San Francisco City

Jump to South San Francisco City Report

Foster City

Jump to Foster City Report

Pacifica City

Jump to Pacifica City Report

What’syourhome reallyworthintoday’s market?

That's really the question you should be asking yourself.

Our market is incredibly diverse, and rapidly changing. Values vary not just by neighborhood, but by street. Your home isn't necessarily worth what your neighbors’ home is. At the end of the day, it’s the current market that sets the value of your home.

So, do you know what your home is worth in today's market?

Icanhelp...

Contact me for a confidential, no obligation assessment of your home's value.

HowHomeownersWinWhen TheyDownsize

Downsizing has long been a popular option when homeowners reach retirement age. But there are plenty of other life changes that could make downsizing worthwhile. Homeowners who have experienced a change in their lives or no longer feel like their house fits their needs may benefit from downsizing too. U.S. News explains:

“Downsizing is somewhat common among older people and retirees who no longer have children living at home. But these days, younger people are also looking to downsize to save money on housing . . .”

And when inflation has made most things significantly more expensive, saving money where you can has a lot of appeal. So, if you’re thinking about ways to budget differently, it could be worthwhile to take your home into consideration.

When you think about cutting down on your spending, odds are you think of frequent purchases, like groceries and other goods. But when you downsize your house, you often end up downsizing the bills that come with it, like your mortgage payment, energy costs, and maintenance requirements. Realtor.com shares:

“A smaller home typically means lower bills and less upkeep. Then there’s the potential windfall that comes from selling your larger home and buying something smaller.”

That windfall is thanks to your home equity. If you’ve been in your house for a while, odds are you’ve developed a considerable amount of equity. Your home equity is an asset you can use to help you buy a home that better suits your needs today.

And when you’re ready to make a move, your team of real estate experts will be your guides through every step of the process. That includes setting the right price for your house when you sell, finding the best location and size for your next home, and understanding what you can afford at today’s mortgage rate.

What This Means for You

If you’re thinking about downsizing, ask yourself these questions:

Do the original reasons I bought my current house still stand, or have my needs changed since then? Do I really need and want the space I have right now, or could somewhere smaller be a better fit? What are my housing expenses right now, and how much do I want to try to save by downsizing?

Once you know the answers to these questions, meet with a real estate advisor to get an answer to this one: What are my options in the market right now? A local housing market professional can walk you through how much equity you have in your house and how it positions you to win when you downsize.

Bottom Line

If you’re looking to save money, downsizing your home could be a great help toward your goal. Talk with a real estate agent about your goals in the housing market this year.

Source: Keeping Current Matters

SanMateo County

What's in the San Mateo County data?

There are 651 single-family homes for sale, providing 1.5 months of inventory. There are 331 new listings, and 193 homes sold at a median sale price of $1.9m. The median overbid percentage was 97 4%, with an average of 21 days on the market.

There are 226 condo and townhome units for sale, providing 1.6 months of inventory. There are 107 new listings, and 54 units sold at a median sale price of $857k. The median overbid percentage was 101.2%, with an average of 32 days on the market

Single-Family Homes

331 New Listings

193 Sold Listings

1.5 Months of Inventory

$1.9M Median Sale Price

97.4% Median Sale vs List

21 Avg Days on Market

The data includes all single-family homes, townhome, and condominium sales in San Mateo County, San Mateo City, Burlingame City, Hillsborough City, San Bruno City, Daly City, San Carlos City, Millbrae City, South San Francisco City, Foster City, and Pacifica City sourced from Broker Metrics on May 5th. Data from sources deemed reliable may contain errors and be subject to revision. © 2023. All rights reserved. Each Office Is Independently Owned and Operated. DRE# 01906450.

107

SanMateoCounty

Last

Median SalesPrice

Single-Family Homes

The median sales price has decreased from $2 4m in April 2022, to $1 9m as of April 2023

Condos & Townhomes

The median sales price has decreased from $1.1m in April 2022, to $857k as of April 2023.

Single-Family Homes

The average time spent on the market increased from 13 days last April 2022, to 21 days as of April 2023

Condos & Townhomes

The average time spent on the market increased from 18 days in April 2022, to 32 days as of April 2023

Overbids

Single-Family Homes

The overbid percentage has decreased from 109 1% in April 2022, to 97 4% a year later

Condos & Townhomes

The overbid percentage has decreased from 107.2% in April 2022, to 101.2% a year later.

SanMateo City

What's in the San Mateo City data?

There are 65 single-family homes for sale, providing 0.8 months of inventory. There are 41 new listings, and 22 homes sold at a median sale price of $2m. The median overbid percentage was 98 3%, with an average of 13 days on the market

There are currently 83 condo and townhome units for sale, providing 2.1 months of inventory. There are 31 new listings, and 16 units sold at a median sale price of $728k. The median overbid percentage was 98.8%, with an average of 29 days on the market.

Single-Family Homes

41 New Listings

22 Sold Listings

0.8 Months of Inventory

$2M Median Sale Price

98.3% Median Sale vs List

13 Avg Days on Market

3 New List

2. Months of Inven 98.8% Median Sale vs

Median SalesPrice

Single-Family Homes

The median sales price has decreased from $2 4m in April 2022, to $2m as of April 2023

Condos & Townhomes

The median sales price has decreased from $1.1m in April 2022, to $728k as of April 2023.

Single-Family Homes

The average time spent on the market increased from 11 days in April 2022, to 13 days as of April 2023

Condos & Townhomes

The average time spent on the market increased from 16 days in April 2022, to 29 days as of April 2023

Overbids

Single-Family Homes

The overbid percentage has decreased from 114% in April 2022, to 98 3% a year later

Condos & Townhomes

The overbid percentage has decreased from 106.4% in April 2022, to 98.8% a year later.

Burlingame City

What's in the Burlingame City data?

There are 42 single-family homes for sale, providing 1.5 months of inventory. There are 18 new listings, and 9 homes sold at a median sale price of $2.9m. The median overbid percentage was 96 8%, with an average of 18 days on the market.

There are 5 condo and townhome units for sale, providing 0 months of inventory. There are 2 new listings, and 2 units sold at a median sale price of $1.4m. The median overbid percentage was 100%, with an average of 0 days on the market.

Single-Family Homes

18 New Listings

9 Sold Listings

1.5 Months of Inventory

$2.9M Median Sale Price

96.8% Median Sale vs List

18 Avg Days on Market

2 New Listings

2 Sold Listings

0 Months of Inventory

$1.4M Median Sale Price

Median Sale vs List 0 Avg Days on Market

Median SalesPrice

Single-Family Homes

The median sales price has decreased from $3 1m in April 2022, to $2 9m as of April 2023

Condos & Townhomes

The median sales price has increased from $1.1m in April 2022, to $1.4m as of April 2023.

AVGDays OntheMarket

Single-Family Homes

The average time spent on the market increased from 9 days last April 2022, to 18 days as of April 2023

Condos & Townhomes

The average time spent on the market decreased from 128 days in April 2022, to 0 days as of April 2023

Overbids

Single-Family Homes

The overbid percentage has decreased from 114 2% in April 2022, to 96 8% a year later

Condos & Townhomes

The overbid percentage has decreased from 105.2% in April 2022, to 100% a year later.

Hillsborough City

What's in the Hillsborough City data?

There are 42 single-family homes for sale, providing 5.2 months of inventory. There are 14 new listings, and 7 homes sold at a median sale price of $5.5m. The median overbid percentage was 99 6%, with an average of 58 days on the market.

There are currently no condos for sale, inventory, new listings, or condo sales reported this month.

Single-Family Homes

14 New Listings

7 Sold Listings

5.2 Months of Inventory

$5.5M Median Sale Price

99.6% Median Sale vs List

58 Avg Days on Market

CONDO

Condo & Townhomes

No data for this month

HillsboroughCity

APRIL 2022 - APRIL 2023

No Data for this month

Single-Family Homes

The median sales price has decreased from $6 4m in April 2022, to $5 5m as of April 2023

Condos & Townhomes

No data for this month.

Single-Family Homes

The average days on market went up from 16 days in April 2022, to 58 days as of April 2023

Condos & Townhomes

No data for this month

Overbids

Single-Family Homes

The overbid percentage has increased from 94 9% in April 2022, to 99 6% a year later

Condos & Townhomes

No data for this month.

SanBruno City

What's in the San Bruno City data?

There are 14 single-family homes for sale, providing 0.6 months of inventory. There are new listings, and 9 homes sold at a median s price of $1.3m. The median overbid percenta was 110 1%, with an average of 14 days on th market.

There are currently 9 condo and townhome u for sale, providing 2 months of inventory. The are 6 new listings, and 5 units sold at a media sale price of $460k. The median overbid percentage was 96.4%, with an average of 41 on the market

Single-Family Homes

8 New Listings

9 Sold Listings

0.6 Months of Inventory

$1.3M Median Sale Price

110.1% Median Sale vs List

14 Avg Days on Market

Median SalesPrice

Single-Family Homes

The median sales price has decreased from $1 6m in April 2022, to $1 3m as of April 2023

Condos & Townhomes

The median sales price has decreased from $584k last April 2022, to $460k as of April 2023.

AVGDays OntheMarket

Single-Family Homes

The average time spent on market increased from 9 days last April 2022, to 14 days as of April 2023

Condos & Townhomes

The average time spent on the market increased from 15 days in April 2022, to 41 days as of April 2023

Overbids

Single-Family Homes

The overbid percentage has decreased from 118 3% in April 2022, to 110 1% a year later

Condos & Townhomes

The overbid percentage has decreased from 104.5% in April 2022, to 96.4% a year later.

DalyCity

What's in the Daly City data?

There are 32 single-family homes for sale, providing 1.1 months of inventory. There are 17 new listings, and 11 homes sold at a median sale price of $1.1m. The median overbid percentage was 106.6%, with an average of 13 days on the market.

There are currently 13 condo and townhome unit for sale, providing 0 8 months of inventory There are 9 new listings, and 4 units sold at a median sale price of $700k. The median overbid percentage was 100.2%, with an average of 61 days on the market.

of Inventory $70 Media 100.2%

Median Sale vs List Avg Day

DalyCity

Median SalesPrice

Single-Family Homes

The median sales price has decreased from $1 4m in April 2022, to $1 1m as of April 2023

Condos & Townhomes

The median sales price has increased from $665k in April 2022, to $700k as of April 2023.

AVGDays OntheMarket

Single-Family Homes

The average time spent on the market increased from 11 days last April 2022, to 13 days as of April 2023

Condos & Townhomes

The average time spent on the market increased from 16 days in April 2022, to 61 days as of April 2023

Overbids

Single-Family Homes

The overbid percentage has decreased from 120 9% in April 2022, to 106 6% a year later

Condos & Townhomes

The overbid percentage has decreased from 107.6% in April 2022, to 100.2% a year later.

SanCarlos City

What's in the San Carlos City data?

There are 46 single-family homes for sale, providing 1.1 months of inventory. There are 21 new listings, and 19 homes sold at a median sale price of $2.2m. The median overbid percentage was 103 3%, with an average of 12 days on the market.

There are 28 condo and townhome units for sale, providing 1 month of inventory. There are 10 new listings, and 5 units sold at a median sale price of $1.5m. The median overbid percentage was 103.8%, with an average of 34 days on the market.

e-Family Homes

ngs

1 f Inventory

19 Sold Listings

$2.2M Median Sale Price

3.5% ale vs List

12 Avg Days on Market

includes all single-family homes, townhome, and condominium sales in San San Mateo City, Burlingame City, Hillsborough City, San Bruno City, Daly Carlos City, Millbrae City, South San Francisco City, Foster City, and Pacifica from Broker Metrics on May 5th. Data from sources deemed reliable may and be subject to revision. © 2023. All rights reserved. Each Office Is Independently Owned and Operated. DRE# 01906450.

10 New Listings

5 Sold Listings

1 Months of Inventory

$1.5M Median Sale Price 103.8% Median Sale vs List 34 Avg Days on Market

SanCarlosCity

APRIL

2023

Median SalesPrice

Single-Family Homes

The median sales price has decreased from $3 3m in April 2022, to $2 2m as of April 2023

Condos & Townhomes

The median sales price has decreased from $1.6m in April 2022, to $1.5m as of April 2023.

AVGDays OntheMarket

Single-Family Homes

The average time spent on the market increased from 8 days last April 2022, to 12 days as of April 2023

Condos & Townhomes

The average time spent on the market increased from 12 days in April 2022, to 24 days as of April 2023

Overbids

Single-Family Homes

The overbid percentage has decreased from 110 6% in April 2022, to 103 3% a year later

Condos & Townhomes

The overbid percentage has decreased from 106.8% in April 2022, to 103.8% a year later.

Millbrae City

What's in the Millbrae City data?

There are 14 single-family homes for sale, providing 0.4 months of inventory. There are 3 new listings, and 3 homes sold at a median sale price of $2m. The median overbid percentage was 103 2%, with an average of 19 days on the market

There are currently 5 condo and townhome units for sale, providing 1 month of inventory. There are 2 new listings, and 0 units sold at a median sale price of $0. The median overbid percentage was 0%, with an average of 23 days on the market.

Single-Family Homes

3 New Listings

3 Sold Listings

0.4 Months of Inventory

$2M Median Sale Price

103.2% Median Sale vs List

19 Avg Days on Market

2 New Listings 1

of Inventory

Sold Listings

Sale Price

MillbraeCity

Median SalesPrice

Single-Family Homes

The median sales price has decreased from $2 4m in April 2022, to $2m as of April 2023

Condos & Townhomes

The median sales price has decreased from $1.2m in April 2022, to $0 as of April 2023.

AVGDays OntheMarket

Single-Family Homes

The average time spent on the market increased from 12 days in April 2022, to 19 days as of April 2023

Condos & Townhomes

The average time spent on the market decreased from 65 days in April 2022, to 23 days as of April 2023

Overbids

Single-Family Homes

The overbid percentage has decreased from 111% in April 2022, to 103 2% a year later

Condos & Townhomes

The overbid percentage has decreased from 102.4% in April 2022, to 0% a year later.

SouthSan Francisco City

What's in the South San Francisco City data?

There are 17 single-family homes for sale, providing 1 month of inventory. There are 11 new listings, and 11 homes sold at a median sale price of $1.2m. The median overbid percentage was 106%, with an average of 9 days on the market.

There are 5 condo and townhome units for sale, providing 0 7 months of inventory There are 4 new listings, and 2 units sold at a median sale price of $1m. The median overbid percentage was 109.6%, with an average of 12 days on the market.

Single-Family Homes

11 New Listings

11 Sold Listings

1 Months of Inventory

$1.2M Median Sale Price

106% Median Sale vs List

9 Avg Days on Market

Listings

2 Sold Listings

SouthSanFranciscoCity

Median SalesPrice

Single-Family Homes

The median sales price has decreased from $1 5m in April 2022, to $1 2m as of April 2023

Condos & Townhomes

The median sales price has increased from $906k in April 2022, to $1m as of April 2023.

AVGDays OntheMarket

Single-Family Homes

The average time spent on the market decreased from 13 days in April 2022, to 9 days as of April 2023

Condos & Townhomes

The average time spent on the market decreased from 13 days in April 2022, to 12 days as of April 2023

Overbids

Single-Family Homes

The overbid percentage has decreased from 115 1% in April 2022, to 106% a year later

Condos & Townhomes

The overbid percentage has decreased from 106.7% in April 2022, to 109.6% a year later.

FosterCity

What's in the Foster City data?

There are 15 single-family homes for sale, providing 2.5 months of inventory. There are 12 new listings, and 2 homes sold at a median sale price of $2.4m. The median overbid percentage was 106.9%, with an average of 8 days on the market.

There are 26 condo and townhome units for sale, providing 0 8 months of inventory There are 14 new listings, and 9 units sold at a median sale price of $930k. The median overbid percentage was 103.3%, with an average of 38 days on the market.

Single-Family Homes

12 New Listings

2 Sold Listings

2.5 Months of Inventory

$2.4M Median Sale Price

106.9% Median Sale vs List

8 Avg Days on Market

Median SalesPrice

Single-Family Homes

The median sales price has decreased from $2 7m in April 2022, to $2 4m as of April 2023

Condos & Townhomes

The median sales price has decreased from $1.4m in April 2022, to $930k as of April 2023.

AVGDays OntheMarket

Single-Family Homes

The average time spent on the market increased from 13 days in April 2022, to 8 days as of April 2023

Condos & Townhomes

The average time spent on the market increased from 13 days in April 2022, to 38 days as of April 2023

Overbids

Single-Family Homes

The overbid percentage has decreased from 117 7% in April 2022, to 106 9% a year later

Condos & Townhomes

The overbid percentage has decreased from 111.8% in April 2022, to 103.3% a year later.

PacificaCity

What's in the Pacifica City data?

There are 38 single-family homes for sale, providing 1 6 months of inventory There are 19 new listings, and 6 homes sold at a median sale price of $1.2m. The median overbid percentage was 104.7%, with an average of 10 days on the market.

There are currently 4 condo and townhome units for sale, providing 3 months of inventory. There are 2 new listings, and 2 units sold at a median sale price of $783k. The median overbid percentage was 107%, with an average of 41 days on the market.

Single-Family Homes

19 New Listings

6 Sold Listings

1.6 Months of Inventory

$1.2M Median Sale Price

104.7% Median Sale vs List

10 Avg Days on Market

2 New Listings

Listings

PacificaCity

Median SalesPrice

Single-Family Homes

The median sales price has decreased from $1 4m in April 2022, to $1 2m as of April 2023

Condos & Townhomes

The median sales price has decreased from $865k in April 2022, to $783k as of April 2023.

AVGDays OntheMarket

Single-Family Homes

The average time spent on the market decreased from 18 days in April 2022, to 10 days as of April 2023

Condos & Townhomes

The average time spent on the market increased from 6 days in April 2022, to 41 days as of April 2023

Overbids

Single-Family Homes

The overbid percentage has decreased from 114 1% in April 2022, to 104 7% a year later

Condos & Townhomes

The overbid percentage has decreased from 113.7% in April 2022, to 107% a year later.