Real Estate Report presented by Gwen Wang

January 2016 Report

Single Family Homes in San Mateo County, Menlo Park, 19711 Change >


Median Price
$1,293,750
N/A
Average Price
$1,293,750
N/A
No. Sold
2
N/A
Pending Properties
0
-100.0%
Active
1
0.0%
Sale/List Price Ratio
100.2%
N/A
Days on Market
10
N/A
Days of Inventory
15
N/A

Market Barometer

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Market Commentary

The Hottest U.S. Housing Markets in December 2015

Just as we’d expected, the residential real estate market cooled down a bit in the last month of 2015, with reduced demand and inventory in most major markets—though not as much of a slowdown as the same time last year, according to a preliminary analysis of the month’s data on realtor.com®.

Jonathan Smoke, chief economist of realtor.com, and his team carried out the data analysis and identified the top 20 medium-to-large markets where homes are moving fastest and interest (based on listing views on realtor.com) is highest. At the top of the list, for the second month in a row, is San Francisco, followed by its sister Bay Area city San Jose.

“While California closed out our latest ranking still firmly in control of the hottest markets, the Midwest and Florida are both seeing substantial improvement,” said  Smoke. “Pent-up demand and robust economic growth combined with limited supply will keep California tight in 2016, but more markets will challenge them as demand improves elsewhere.”

A few markets are new to the hot list this month: Tampa, FL; Fort Wayne, IN; and Midland, TX.

These markets typically represent a greater metro area, since people might work in a city but reside in a nearby suburb. For example, San Francisco also includes Oakland andHayward; San Jose includes Sunnyvale and Santa Clara.

On the whole, the hottest markets receive about 1.4 to 2.9 times the number of views per listing compared with the national average. Their homes move off market 29 to 51 days more quickly than the rest of the U.S., and they have also seen days on market drop by a combined average of 15% year over year.

The hot list

  1. San Francisco, CA
  2. San Jose, CA
  3. Vallejo, CA
  4. Dallas, TX
  5. Sacramento, CA
  6. San Diego, CA
  7. Denver, CO
  8. Santa Rosa, CA
  9. Yuba City, CA
  10. Stockton, CA
  11. Los Angeles, CA
  12. Oxnard, CA
  13. Nashville, TN
  14. Palm Bay, FL
  15. Modesto, CA
  16. Detroit, MI
  17. Boulder, CO
  18. Tampa, FL
  19. Fort Wayne, IN
  20. Midland, TX

Prices & Sales

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Days of Inventory

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Sales to Date

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Sales Price Ratio

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