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San Mateo County Houses as of February 5, 2002

Available

Sep-01

Oct-01

 

Nov-01

Dec-01

Jan-02

 

Jan-01

Jan-00

DOM med

57

59

 

68

80

57

r

n/a

n/a

DOM ave

73

80

c

90

101

84

i

n/a

n/a

Inventory

1422

1316

y

1046

748

694

c

560

n/a

 

 

 

n

 

 

 

h

 

 

Sales

Sep-01

Oct-01

t

Nov-01

Dec-01

Jan-02

a

Jan-01

Jan-00

SP 10%

$419,200

$390,000

h

$405,570

$399,300

tbd

r

$411,000

$329,400

SP 50% med

$586,500

$563,000

i

$585,000

$550,000

tbd

d

$650,500

$533,000

SP 90%

$1,147,000

$1,200,000

a

$1,195,000

$1,098,000

tbd

c

$1,443,500

$1,380,440

LP med

$599,000

$579,725

h

$589,988

$559,000

$597,500

a

$629,000

$519,000

SP/LP ave

96.9%

96.4%

a

96.5%

97.1%

tbd

l

102.2%

104.1%

%SP>LP

14.7%

14.4%

i

11.0%

14.4%

tbd

h

51.7%

71.1%

%SP<LP

72.3%

72.3%

n

77.0%

78.1%

tbd

o

32.1%

46.0%

DOM med

42

44

e

53

59

61

u

15

16

DOM ave

58

63

s

70

79

81

n

37

45

# Sales

314

498

@

449

328

462

@

318

333

% TFT

6.7%

3.4%

c

4.9%

4.3%

tbd

c

6.6%

2.4%

 

 

 

r

 

 

 

r

 

 

Closings

Sep-01

Oct-01

e

Nov-01

Dec-01

Jan-02

e

Jan-01

Jan-00

SP 10%

$398,900

$400,200

e

$400,000

$400,000

$405,000

e

$393,600

$326,500

SP 50% med

$571,000

$586,500

k

$569,500

$575,500

$574,510

k

$651,000

$538,000

SP 90%

$1,155,000

$1,247,400

s

$1,195,500

$1,130,000

$1,150,000

s

$1,650,000

$1,364,000

LP med

$588,944

$599,000

i

$599,000

$589,000

$589,950

i

$650,000

$525,000

SP/LP ave

97.3%

96.9%

d

96.3%

96.7%

97.1%

d

101.9%

101.2%

%SP>LP

17.9%

15.5%

e

12.4%

12.8%

14.7%

e

47.1%

39.6%

%SP<LP

69.2%

72.0%

r

73.2%

75.4%

75.7%

r

37.9%

42.5%

DOM med

39

39

e

43

52

60

e

23

19

DOM ave

56

55

a

62

66

76

a

37

38

# Closings

390

343

l

380

431

334

l

269

310

Updated #

394

351

t

391

tbd

tbd

t

275

316

 

 

 

y

 

 

 

y

 

 

Off-Market

Sep-01

Oct-01

.

Nov-01

Dec-01

Jan-02

.

Jan-01

Jan-00

DOM med

106

109

c

124

143

168

c

n/a

n/a

DOM ave

114

125

o

138

157

179

o

n/a

n/a

# Off

185

240

m

217

234

211

m

n/a

n/a

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San Mateo County Condos as of February 5, 2002

Available

Sep-01

Oct-01

 

Nov-01

Dec-01

Jan-02

 

Jan-01

Jan-00

DOM med

53

58

 

64

71

62

r

n/a

n/a

DOM ave

69

75

c

75

83

75

i

n/a

n/a

Inventory

492

456

y

408

296

256

c

150

n/a

 

 

 

n

 

 

 

h

 

 

Sales

Sep-01

Oct-01

t

Nov-01

Dec-01

Jan-02

a

Jan-01

Jan-00

SP 10%

$210,000

$218,600

h

$210,000

$265,000

Tbd

r

$237,750

$155,900

SP 50% med

$345,000

$399,000

i

$357,000

$380,000

Tbd

d

$410,000

$302,500

SP 90%

$547,200

$576,400

a

$566,300

$539,000

Tbd

c

$632,000

$520,200

LP med

$359,000

$408,000

h

$370,000

$394,500

$362,500

a

$385,000

$289,000

SP/LP ave

96.9%

97.2%

a

97.2%

97.4%

tbd

l

101.9%

102.8%

%SP>LP

9.9%

7.3%

i

13.0%

1089.0%

tbd

h

55.2%

55.4%

%SP<LP

81.3%

77.2%

n

79.1%

76.2%

tbd

o

30.2%

23.1%

DOM med

69

55

e

62

64

58

u

13

14

DOM ave

78

70

s

82

83

67

n

29

35

# Sales

97

133

@

133

122

187

@

118

135

% TFT

5.2%

6.8%

c

6.8%

tbd

tbd

c

1.7%

3.7%

 

 

 

r

 

 

 

r

 

 

Closings

Sep-01

Oct-01

e

Nov-01

Dec-01

Jan-02

e

Jan-01

Jan-00

SP 10%

$214,200

$210,000

e

$218,600

$207,700

$219,000

e

$225,000

$152,100

SP 50% med

$369,000

$377,500

k

$400,000

$372,500

$360,000

k

$398,750

$280,000

SP 90%

$538,100

$594,000

s

$565,600

$555,500

$538,400

s

$645,573

$540,800

LP med

$379,900

$380,000

i

$409,000

$383,850

$369,000

i

$380,000

$279,450

SP/LP ave

97.3%

96.9%

d

97.5%

97.2%

97.5%

d

102.0%

101.7%

%SP>LP

9.7%

7.4%

e

10.6%

9.2%

13.0%

e

53.1%

44.4%

%SP<LP

80.5%

75.8%

r

80.9%

77.5%

74.0%

r

24.0%

30.8%

DOM med

62

65

e

48

67

57

e

14

16

DOM ave

70

72

a

66

84

76

a

23

29

# Closings

113

95

l

94

120

123

l

94

114

Updated #

115

102

t

98

tbd

tbd

t

96

118

 

 

 

y

 

 

 

y

 

 

Off-Market

Sep-01

Oct-01

.

Nov-01

Dec-01

Jan-02

.

Jan-01

Jan-00

DOM med

95

96

c

144

137

151

c

n/a

n/a

DOM ave

112

115

o

146

152

161

o

n/a

n/a

# Off

64

90

m

81

90

70

m

n/a

n/a

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San Mateo County Investment Properties as of February 5, 2002

Available

Sep-01

Oct-01

 

Nov-01

Dec-01

Jan-02

 

Jan-01

Jan-00

DOM med

70

75

 

76

81

84

r

n/a

n/a

DOM ave

113

122

c

133

126

126

i

n/a

n/a

Inventory

69

68

y

55

48

49

c

n/a

n/a

 

 

 

n

 

 

 

h

 

 

Sales

Sep-01

Oct-01

t

Nov-01

Dec-01

Jan-02

a

Jan-01

Jan-00

SP 10%

$540,500

$484,800

h

$472,000

$541,300

tbd

r

$513,500

$415,000

SP 50% med

$662,500

$762,500

i

$601,000

$633,975

tbd

d

$615,000

$564,500

SP 90%

$1,390,000

$920,000

a

$1,255,800

$1,130,000

tbd

c

$1,175,000

$1,170,000

LP med

$679,000

$780,750

h

$612,500

$639,475

$707,500

a

$610,000

$549,475

SP/LP ave

98.7%

97.5%

a

94.3%

98.2%

tbd

l

103.3%

100.3%

%SP>LP

10.0%

15.4%

i

17.6%

25.0%

tbd

h

63.6%

25.0%

%SP<LP

50.0%

69.2%

n

82.4%

50.0%

tbd

o

9.1%

37.5%

DOM med

25

54

e

26

16

60

u

16

15

DOM ave

62

65

s

48

37

79

n

34

27

# Sales

13

16

@

21

8

14

@

11

16

% TFT

23.1%

6.3%

c

9.5%

0.0%

tbd

c

n/a

n/a

 

 

 

r

 

 

 

r

 

 

Closings

Sep-01

Oct-01

e

Nov-01

Dec-01

Jan-02

e

Jan-01

Jan-00

SP 10%

$485,600

$512,000

e

$502,400

$459,000

$515,000

e

$518,000

$375,000

SP 50% med

$725,000

$680,000

k

$675,000

$668,000

$630,000

k

$690,000

$567,000

SP 90%

$997,600

$1,028,000

s

$2,159,997

$994,000

$1,228,000

s

$1,175,000

$1,221,250

LP med

$749,000

$690,000

i

$749,950

$679,000

$625,000

i

$728,000

$552,000

SP/LP ave

98.7%

99.0%

d

97.1%

95.4%

95.1%

d

99.8%

100.3%

%SP>LP

23.1%

30.8%

e

6.7%

11.8%

18.2%

e

26.3%

40.9%

%SP<LP

53.8%

61.5%

r

66.7%

70.6%

81.2%

r

52.6%

31.8%

DOM med

41

28

e

50

38

23

e

26

18

DOM ave

45

53

a

53

59

44

a

35

39

# Closings

13

13

l

15

17

11

l

n/a

n/a

Updated #

13

13

t

16

tbd

tbd

t

19

20

 

 

 

y

 

 

 

y

 

 

Off-Market

Sep-01

Oct-01

.

Nov-01

Dec-01

Jan-02

.

Jan-01

Jan-00

DOM med

137

89

c

203

144

155

c

n/a

n/a

DOM ave

172

109

o

210

149

206

o

n/a

n/a

# Off

11

11

m

16

19

21

m

n/a

n/a

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San Mateo County as of February 5, 2002

Available - data in this category is based on properties currently available for sale, status 1.
Days on the market (DOM) for available listings continues to grow but at a slower rate. DOM reached 80/101 days (median/average).

SMC inventory grew rapidly from 279 on February 5, 2001 to 1381 on May 8th. Inventory has since stabilized and has been fluctuating between 1316 and 1437. Inventory was at 1316 on November 5th and decreasing. Inventory reached 748 on February 5, 2002.

Sales - data in this category is based on properties with an initiated sale (offer accepted) during the month.
The median LIST price dropped to $559,000 which is $25,000 below last year. The difference is really greater because a year ago there was more over-bidding and this comparison is based on LIST price. DOM for sales that had been climbing by about seven days each month was leveling off prior to WTC put since resumed its climb reaching 59/79 for December. Remember DOM takes time to reach its appropriate level and therefore lags behind market changes.

Sales normally drop because of the holidays. The drop this year was much later than normal and not as deep. This resulted in extra sales. The number of sales at 328 for December 2001 is greater than 2000 at 269 and about the same as 1999 at 338.

Percent of transactions fallen through ( %TFT) increased in 2001 compared with 1999 and 2000.

Closings - data in this category is based on properties that closed escrow during the month. 
After remaining unchanged for four months August’s median Sold price dropped $20,000, bring it to the lowest level since February 2000. September maintained this level at $571,000. October saw a fluctuation to $586,5000 with November returning to $569,500, a new low for the year. December rebounded to $575,500. This is still a $100,000 drop from the peak price of $683,750 that occurred in February 2001 and $50,000 below December 2000. Typically, property values will fall more significantly than median price.

The trend of fewer homes selling over the asking price and more homes selling below the asking price appears to be leveling out. There was a slight increase from 12.4% to 13.0% of properties selling for more than their asking price. A year ago Sellers were getting 103.6% of their asking price and now they are realizing 96.7%. This is a slight increase from November at 96.3%. This percentage will likely increase as more people realize the market continues to improve and SMC leaves the Buyer’s market and enters a balanced market.

The DOM for closings in May was 21/32, June was 26/37, July was 33/43, August increased to 41/54. September, October was similar at 39/55. November resumed the increase of DOM coming in at 43/62 and December at 52/66. These figures show the marketing time was increasing earlier in the year and tried to level off prior to WTC but is increasing again. DOM increased because of the temporary slowdown caused by WTC.

December’s closings were 431 or 80% of 1999; but 115% of 2000 levels. 

Updated# is an adjusted number of reported closings

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