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Median Price of Homes Up

Are you bullish on the real estate market?

Both the number of total listings and new listings have gone down this week, while the number of pending and properties sold are pretty much the same last week, this caused a slight drop in the inventory level to 2.11 months.

The January statistics are available, the average home price has gone down slightly from $689,365 to $674,890 compared to December. The median price has gone up from $560,000 to $632,500. 

Meanwhile,  CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) has noted the statewide median price was lower comparing to December, primarily due to a sales increase in the distressed market.

No. of listings 108 No. of REOs (real estate owned, by a bank, government agency, etc.) 3 No. of short sales 20 No. of regular sales 85 No. of new listings last week 16 No. of listings has price increase last week 0 No. of listings has price decrease last week 10 No. of listings become pending last week 19 No. of property sold last week 13 Inventory level 2.11 months

Homes sold this week (data source from MLS Listings Inc. and the San Mateo County Recorder's Office):

Address Closing Sale Price Beds Baths (F|P) Estimated square footage 524 POPLAR AVENUE $335,000 2 1|0 780 836 7TH AVENUE $380,000 2 1|0 1,090 70 COVE LANE $409,000 1 1|0 1,050 925 15TH AVENUE $445,000 2 1|0 1,040 131 BERESFORD AVENUE $464,000 3 2|0 990 128 MARKHAM AVENUE $475,000 3 1|0 1,250 241 HUDSON STREET $565,000 2 1|0 1,180 600 MARLIN COURT $741,000 2 2|1 1,540 614 MARLIN COURT $800,000 3 2|1 1,740 300 TADLEY COURT $840,000 3 2|1 1,910 1 BARCELONA CIRCLE $870,500 3 2|1 1,970 409 WEMBLEY COURT $900,000 3 2|1 2,380 547 SAPPHIRE STREET $910,000 3 3|0 2,000

Note: These statistics are generated using information from the MLSListings Inc. multiple listing service, but have not been verified and are not guaranteed. MLSListings Inc. disclaims any responsibility for the accuracy and reliability of these statistics. This information should not be relied upon for real estate transaction decisions.  Neither Patch.com nor MLS Listings Inc. guarantees the completeness or accuracy of the information.

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