Real Estate Market Results for San Francisco Peninsula Areas – September 2020

[Ken and Ari Walker]

Oct 20, 2020  california, investing

While there was some slight fluctuation in sales pricing from August to September, asking and sales price were very much in line.  Below is a summary of 6 cities from the Peninsula, that represent the state of the real estate market in these San Francisco bay areas:

Menlo Park:

Average days on market- 28

Average sales price- $3,241,029 (down $354,912 from August)

List and sales price the same

Foster City:

Average days on market- 24

Average sales price- $1,905,324 (down $162,036 from August)

Sales price 1% above asking price

Belmont:

Average days on market- 19

Average sales price- $1,981,259 (up 4% from August)

Sales price 4% above asking price

San Carlos:

Average days on market- 17

Average sales price- $2,182,043 (down $54,704 from August)

Sales price 4% above asking price

San Mateo:

Average days on market- 20

Average sales price- $1,781,586 (down $90,215 from August)

Sales price 3% above asking price

Burlingame:

Average days on market- 25

Average sales price- $2,909,842 (down $161,331 from August)

Sales price same as asking price

In reviewing these findings, we see that the shortage of homes for sales has resulted in a faster turn-around for listings.  While there has been some adjustment of pricing, over all the market has remained robust and indeed, even competitive.

So if you’ve considered selling in these areas, this is the time to reach out and find a local, qualified Realtor who can help walk you through the selling process smoothly. And if you are looking for alternative financing or a Hard Money loan to finance a future purchase, give Sun Pacific Mortgage & Real Estate a call at [phone] for a free consultation.

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