End of May 2021 Bay Area Counties Real Estate Market Update

Here is your end of May 2021 San Mateo County Update! Curious about how the local real estate market is changing? Here are the highlights curated for you!:

San Mateo County Inventory in May 2020 vs 2021 – 919 vs 683 properties for sale, a decrease of -25.7%

San Mateo County Average Prices in May 2020 vs 2021 – $1,959,281 vs $2,175,210, an increase of 11.0%

Santa Clara County Inventory in May 2020 vs 2021 – 1935 vs 1507 properties for sale, a decrease of -22.1%

Santa Clara County Average Prices in May 2020 vs 2021 – $1,466,935 vs $1,728,609, an increase of +17.8%

San Francisco County Inventory in May 2020 vs 2021 – 1577 vs 1605 properties for sale, an increase of +1.8%

San Francisco County Average Prices in May 2020 vs 2021 – $1,562,201 vs $1,766,161, an increase of +13.1%

Contra Costa County Inventory in May 2020 vs 2021 – 1,827 vs 732 properties for sale, a decrease of -59.9%

Contra Costa County Average Prices in May 2020 vs 2021 – $792,292 vs $1,134,072, an increase of +43.1%

Alameda County Inventory in May 2020 vs 2021 – 1,732 vs 1,022 properties for sale, a decrease of -41.0%

Alameda County Average Prices in May 2020 vs 2021 – $992,128 vs $1,204,359, an increase of +21.4%

In this first graph, the list to sales price is matching what April 2021 ended at – 108% list to sales price. What this means – your average listing sells for 8% above the original listed price. This is the highest we’ve seen in the last 12 months.

In this second graph, the available homes for sale (in red) is hovering right above 700 for all on San Mateo County. This is uncommonly low for any calendar year for May.

The average price for homes and properties in San Mateo County are, for the first time, above $2,000,000. We expect this to taper off as the summer months come to an end.

The 30 year fixed rate jumbo mortgage is currently at 2.875%. It has come down from 3.125% a few months ago. If you want to lock in a low rate, buy something soon!