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San Mateo 2025 May Market Update

While most of the Bay Area saw significant shifts to more uncertain and uneven markets in April, the San Mateo County market predominantly remained characterized by robust demand. However, there were indications of increased hesitancy among some buyers as they tried to come to terms with new economic uncertainties both personal and macroeconomic. Year over year, the median house sales price rose 6%, one of the largest increases in the Bay Area. The supply of homes for sale rose substantially, about 37%, but the numbers of listings going into contract and of closed sales also increased, though by lesser percentages. Luxury home sales soared. The percentage of listings which have undergone price reductions, which surged in most Bay Area Counties, remained flat from last year. The homes seeing the highest demand, and most likely to sell quickly with multiple offers, are houses in absolute move-in condition, often professionally staged, aggressively priced, and in prime locations. As of early May, the Fed kept its benchmark rate unchanged, mortgage rates continued to hover near 7%, but stock markets substantially recovered from early-April plunges. Consumer confidence saw precipitous declines last month amid the enormous political/economic volatility. Specific San Mateo County market data follows in this report but note that April sales statistics reflect many transactions that went into contract before the severe financial market conditions which began early in the month. May sales data may better reflect April’s economic instability.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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