Robin & Les Wrigley

650.483.7661

Over 900 homes sold

Peninsula Real Estate Market Update
 

The Peninsula home market is getting squeezed. Year to date home sales in San Mateo County are down 4.7% from a year ago. The story is similar in Santa Clara County. This is not due to weakness in demand but rather tightness in supply. There are still plenty of new potential homebuyers out there in the marketplace, but fewer homeowners are selling. There is less than 2 months’ supply of homes for sale, only a third of what is typical.

San Mateo County:     http://savi.apr.com/Uploads/70/38/7038/gallery/San%20Mateo%20County%20Q2%202016.pdf

Santa Clara County:  http://savi.apr.com/Uploads/70/38/7038/gallery/Santa%20Clara%20County%20Q2%202016.pdf

This has caused home prices to increase dramatically in the past few years.  However, Peninsula home prices appear to be reaching a plateau. The San Mateo County median price in June 2016 was $1.3 million, virtually unchanged since a year prior. While the supply of homes is tight, it has risen 26% since last year. Homes are taking longer to sell. We are seeing fewer multiple offers and overbids.

This recent change in the market suggests different strategies for both buyers and sellers. If you are thinking about moving this year, it will be vital to work closely with an experienced agent to navigate this challenging market. We will be happy to help you.

Robin & Les Wrigley, Alain Pinel Realtors

wrigley@realtor.com       650.483.7661

 

 

 
 

 

 
 
 
 
 


 
   
The housing market is changing daily. In order to understand the dynamics of the local market, a familiarity with real-time industry data is essential.

Our market reports help you make educated real estate decisions by providing you with accurate, insightful and real-time market statistics.
   
Median Price
Days on Market
   
Price Per Square Foot
Reigional Inventory
 
                     
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Robin & Les Wrigley

Direct: 650.483.7661
License #: 00853245, 00853244

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