Bay Area Real Estate Market Newsletter
 
San Mateo County
October 2001
 

Section IIa - October 2001 - Houses

AVAILABLE

May-01

Jun-01

 

Jul-01

Aug-01

Sep-01

 

Sep-00

Sep-99

DOI2,3

89.4

82.9

 

89.3

89.3

129.6

 

n/a

n/a

Inventory2

1404

1357

 

1378

1329

1422

 

n/a

n/a

Sale/day2,3

15.7

16.4

 

15.4

14.9

11

R

n/a

n/a

DOM med2

43

50

C

51

51

57

I

n/a

n/a

DOM ave2

55

62

Y

66

71

73

C

n/a

n/a

 

 

 

N

 

 

 

H

 

 

SALES4

May-01

Jun-01

T

Jul-01

Aug-01

Sep-01

A

Sep-00

Sep-99

SP 0% min1

$300,000

$270,000

H

$198,000

$200,000

tbd

R

$288,000

$160,000

SP 10%1

$400,000

$404,000

I

$410,000

$398,000

tbd

D

$375,500

$310,000

SP 50%med1

$575,000

$595,000

A

$590,000

$560,000

tbd

C

$584,000

$498,000

SP 90%1

$1,300,000

$1,330,000

H

$1,315,000

$1,225,000

tbd

A

$1,499,000

$934,000

SP100%max

$8,675,000

$7,000,000

A

$10,500,000

$7,150,000

tbd

L

$19,000,000

$6,080,000

LP med2

$599,000

$599,250

I

$599,000

$579,725

$599,000

H

$574,950

$499,000

SP/LP ave1

98.3%

97.4%

N

97.5%

97.5%

tbd

O

103.3%

100.8%

%SP>LP1

26.3%

19.3%

E

18.9%

21.1%

tbd

U

55.9%

40.7%

%SP<LP1

59.2%

67.9%

S

69.0%

66.6%

tbd

N

30.4%

41.2%

DOM med2

28

37

@

43

40

42

@

17

19

DOM ave2

41

47

C

55

54

58

C

35

37

# Sales2

501

512

R

513

516

314

R

555

589

% TFT1

6.2%

4.5%

E

4.7%

7.5%

tbd

E

4.3%

5.4%

 

 

 

E

 

 

 

E

 

 

CLOSINGS

May-01

Jun-01

K

Jul-01

Aug-01

Sep-01

K

Sep-00

Sep-99

SP 0% min2

$270,000

$275,000

S

$283,300

$198,000

$200,000

S

$210,000

$220,000

SP 10%2

$415,000

$400,000

I

$405,000

$410,200

$398,900

I

$367,000

$304,000

SP50% med2

$589,000

$590,000

D

$595,000

$575,000

$571,000

D

$589,500

$461,000

SP 90%2

$1,296,500

$1,200,000

E

$1,325,000

$1,374,500

$1,155,000

E

$1,498,050

$959,000

SP100%max

$7,150,000

$8,675,000

R

$10,500,000

$7,150,000

$4,500,000

R

$8,250,000

$5,500,000

LP med2

$598,500

$599,000

E

$599,000

$596,500

$588,944

E

$578,944

$450,000

SP/LP ave2

99.2%

98.6%

A

97.6%

97.5%

97.3%

A

103.5%

100.6%

%SP>LP2

34.7%

26.5%

L

19.8%

20.5%

17.9%

L

55.5%

39.8%

%SP<LP2

52.7%

60.1%

T

64.7%

68.2%

69.2%

T

29.4%

43.4%

DOM med2

21

26

Y

33

41

39

Y

18

18

DOM ave2

32

37

.

43

54

56.

.

32

38

#Closings2

445

461

C

445

522

390

C

536

577

Updated#1

448

472

O

451

$532

tbd

O

562

589

 

 

 

M

 

 

 

M

 

 

OFFMARKET

May-01

Jun-01

 

Jul-01

Aug-01

Sep-01

 

Sep-00

Sep-99

DOM med2

 

 

 

 

 

 

 

 

 

DOM ave2

 

 

 

 

 

 

 

 

 

#Off mark2

 

 

 

 

 

 

 

 

 

 

1) Data related to sold price is re-compiled early during the current month to incorporate recent closings without delaying the BAREMN.

2) Data is compiled on the 5th day of following month to agree with MLS policy.

3) DOI & Sales per day calculations use recent sales activity.

4) The data is still subject to change as these sales continue to close and the sold prices are reported.

Warning - The real estate market is cyclical and there will continue to be additional ups and downs. Past performance cannot determine future performance. The purpose of the BAREMN is to give you current market conditions and not forecasting. Information is deemed to be reliable but not guaranteed.

Request your own copy by sending an email to Subscription@CreeksideRealty.com The data is gathered, compiled and published by Creekside Realty. Back editions are available at: http://www.creeksiderealty.com/market_update_new/market_index.htm.

Section IIb - October 2001 - Condos

AVAILABLE

May-01

Jun-01

 

Jul-01

Aug-01

Sep-01

 

Sep-00

Sep-99

DOI2,3

127.3

126.9

 

98.5

100.4

143.5

 

n/a

n/a

Inventory2

509

486

 

473

462

492

 

n/a

n/a

Sale/day2,3

4

4.43

 

4.8

4.6

3.43

R

n/a

n/a

DOM med2

43

55

C

55

58

53

I

n/a

n/a

DOM ave2

49

60

Y

65

70

69

C

n/a

n/a

 

 

 

N

 

 

 

H

 

 

SALES4

May-01

Jun-01

T

Jul-01

Aug-01

Sep-01

A

Sep-00

Sep-99

SP 0% min1

$157,500

$154,500

H

$142,000

$132,000

tbd

R

$153,000

$100,000

SP 10%1

$218,100

$239,500

I

$235,550

$200,000

tbd

D

$213,000

$162,100

SP 50%med

$400,000

$380,000

A

$380,000

$367,000

tbd

C

$380,000

$280,000

SP 90%1

$586,000

$518,500

H

$565,000

$538,000

tbd

A

$650,400

$459,525

SP100%max

$1,140,000

$864,000

A

$999,000

$877,000

tbd

L

$1,125,000

$1,650,000

LP med2

$402,475

$379,250

I

$384,950

$379,450

$359,000

H

$360,000

$284,200

SP/LP ave1

98.2%

97.7%

N

97.6%

97.6%

tbd

O

102.5%

99.7%

%SP>LP1

18.1%

14.3%

E

14.0%

14.7%

tbd

U

59.3%

30.3%

%SP<LP1

57.5%

74.6%

S

72.1%

69.0%

tbd

N

24.6%

40.5%

DOM med2

31

41

@

55

53

69

@

16

14

DOM ave2

37

45

C

61

63

78

C

27

28

# Sales2

136

132

R

145

152

97

R

174

188

% TFT1

5.9%

3.8%

E

4.8%

5.3%

tbd

E

4.0%

5.3%

 

 

 

E

 

 

 

E

 

 

CLOSINGS

May-01

Jun-01

K

Jul-01

Aug-01

Sep-01

K

Sep-00

Sep-99

SP 0% min2

$157,500

$163,000

S

$154,500

$132,200

$162,000

S

$143,000

$92,500

SP 10%2

$225,500

$220,800

I

$226,850

$232,600

$214,200

I

$215,000

$154,150

SP50% med

$375,000

$393,500

D

$370,000

$382,350

$369,000

D

$385,000

$275,000

SP 90%2

$615,000

$606,000

E

$515,000

$538,940

$538,100

E

$634,500

$454,500

SP100%max

$950,000

$1,140,000

R

$999,000

$800,000

$830,000

R

$1,800,000

$799,000

LP med

$369,950

$405,000

E

$370,000

$389,389

$379,900

E

$371,500

$278,500

SP/LP ave2

99.2%

98.1%

A

98.0%

97.6%

97.3%

A

103.1%

100.0%

%SP>LP2

22.6%

16.8%

L

17.1%

17.5%

9.7%

L

57.7%

38.1%

%SP<LP2

52.2%

61.1%

T

70.5%

66.9%

80.5%

T

18.7%

40.6%

DOM med2

21

30

Y

41

45

62

Y

15

14

DOM ave2

30

38

.

48

54

70

.

24

23

#Closings2

115

132

C

129

154

113

C

176

155

Updated#1

116

137

O

130

157

tbd

O

182

160

 

 

 

M

 

 

 

M

 

 

OFFMARKET

May-01

Jun-01

 

Jul-01

Aug-01

Sep-01

 

Sep-00

Sep-99

DOM med2

 

 

 

 

 

 

 

 

 

DOM ave2

 

 

 

 

 

 

 

 

 

#Off mark2

 

 

 

 

 

 

 

 

 

 

1) Data related to sold price is re-compiled early during the current month to incorporate recent closings without delaying the BAREMN.

2) Data is compiled on the 5th day of following month to agree with MLS policy.

3) DOI & Sales per day calculations use recent sales activity.

4) The data is still subject to change as these sales continue to close and the sold prices are reported.

Warning - The real estate market is cyclical and there will continue to be additional ups and downs. Past performance cannot determine future performance. The purpose of the BAREMN is to give you current market conditions and not forecasting. Information is deemed to be reliable but not guaranteed.

Request your own copy by sending an email to Subscription@CreeksideRealty.com The data is gathered, compiled and published by Creekside Realty. Back editions are available at: http://www.creeksiderealty.com/market_update_new/market_index.htm.

 

Section IIc

Available - data in this category is based on properties currently available for sale, status 1.
DOI started at 30.4 on January 1st and increased to 88 on April 10th, indicating a worsening market. DOI has been relatively level since and on October 5th overall DOI was 130. Homes under $500K DOI was 100; for homes in the $500K to $1M range DOI was 123; and for homes over $1M DOI was 229. Home sales over $5+ Million are dead; 30 homes available and only 2 home sales yields a DOI of 525.

SMC inventory grew rapidly from 279 on January 1st to 1381 on May 8th. Inventory has since stabilized and has been fluctuating between 1329 and 1437. Inventory was at 1422 on October 5th, about half the level of 2800 in mid-1995.

The number of sales per day has been decreasing. Currently SMC is selling 10.0 homes per day.

Days on the market (DOM) for currently available listings (status 1) continues to grow and has reached 57/73 days (median/average).

DOI (130) is greater than average DOM (73).

Sales - data in this category is based on properties with an initiated sale (offer accepted) during the month.
The median LIST price is $599,000 which is $25,000 higher compared to last year. This is basically at the same level as a year ago because of less over-bidding and the monthly fluctuations that occur.

Notice that the DOM for sales that had been climbing at about a seven-day increase each month for five months; March 15/27, April 21/33, May 28/41, June 37/47, July 43/55 appeared to level off in August at 40/54, but resumed its climb in September to 42/58.

The number of sales had been flat with 512 in June, 513 in July and 516 in August plummeted to 314 in September. Sales per day, which is a more accurate reflection of the market as it eliminates the weekly cycles, has been decreasing from 16.4 to 14.9 during the same period and has now dropped to only 11.0 Sales/day.

Percent of transactions fallen through ( %TFT) increased significantly from 1999 and 2000 to 2001.

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. This is a $100,000 drop from peak price of $683,750 that occurred in February 2001. Typically, property values will have fallen more significantly than median price.

The trend of fewer homes selling over the asking price and more homes selling below the asking price continues. A year ago Sellers were getting 103.3% of their asking price and now they are realizing 97.3%. It is noteworthy that even in this buyer's market a significant number (one sixth) of the properties are still selling over the asking price.

The DOM for closings in May was 21/32, June was 26/37, July was 33/43, August increased to 41/54 and September was similar at 39/56. These figures show the marketing time has increased.

September's closings at only 399 is only 73% of 2000; and 68% of 1999 levels.
Updated# is an adjusted number of reported closings

Request your own copy by sending an email to Subscription@CreeksideRealty.com The data is gathered, compiled and published by Creekside Realty. Back editions are available at: http://www.creeksiderealty.com/market_update_new/market_index.htm.

Warning - The real estate market is cyclical and there will continue to be additional ups and downs. Past performance cannot determine future performance. The purpose of the BAREMN is to give you current market conditions and not forecasting. Information is deemed to be reliable but not guaranteed.


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