Coldwell Banker 1427 Chapin Avenue Burlingame, CA 94010 (650) 340-4400 [email protected]http://tomneel.rereport.com/ http://www.tomneel.com CA BRE #00935828 Thomas A. Neel Multiple offers continue to be the norm. The sales price to list price ratio, or what buyers are paying over what sellers are asking remains in the triple digits: 1110.0% for homes and 106.4% for condos. The ratio has been over 100% for homes since April 2012 and for condos since June 2012. Homes and condos are flying off the shelf. It is taking only sixteen days to sell a home, on average. Condos are taking eighteen days. All of this is due to an incredible lack of inventory. Since January 2003, San Mateo County has averaged eighty-four days of inventory. Last month it was thirty. The number of homes for sale as of The median prices for single-family, re-sale homes and condos jumped by double-digits to set new highs again in October. That’s three of the past four months the median price for homes has been higher than the year before by double-digits. The median price for homes gained 12.1% over last October. At $1,510,000, the median price surged over the all-time high of $1,485,000 set in July. The average price for homes rose 3.5% to $1,752,210. The median price for condos gained 19.2%. The average price for condos was up 10.5% over last October. the fifth of October were 352. The average is 1,287. Condos have averaged ninety-four days of inventory since 2000. Last month it was fifteen. The number of condos for sale as of the fifth of September was sixty-five. The average is 350. THOMAS A. NEEL | (650) 340-4400 | TOM@TOMNEEL.COM | HTTP://WWW.TOMNEEL.COM http://tomneel.rereport.com/ Search for recent sales & listings in your neighborhood, or in the neighborhood where you are considering buying. Local Market Trends November/December 2017 San Mateo County Median Prices Set New All-Time Highs
Multiple offers continue to be the norm. The sales price to list price ratio, or what buyers are paying over what sellers are asking remains in the triple digits: 1110.0% for homes and 106.4% for condos.
The ratio has been over 100% for homes since April 2012 and for condos since June 2012.
Homes and condos are flying off the shelf. It is taking only sixteen days to sell a home, on average. Condos are taking eighteen days.
All of this is due to an incredible lack of inventory. Since January 2003, San Mateo County has averaged eighty-four days of inventory. Last month it was thirty. The number of homes for sale as of
The median prices for single-family, re-sale homes and condos jumped by double-digits to set new highs again in October.
That’s three of the past four months the median price for homes has been higher than the year before by double-digits.
The median price for homes gained 12.1% over last October. At $1,510,000, the median price surged over the all-time high of $1,485,000 set in July.
The average price for homes rose 3.5% to $1,752,210.
The median price for condos gained 19.2%. The average price for condos was up 10.5% over last October.
the fifth of October were 352. The average is 1,287.
Condos have averaged ninety-four days of inventory since 2000. Last month it was fifteen. The number of condos for sale as of the fifth of September was sixty-five. The average is 350.
THOMAS A. NEEL | (650) 340-4400 | [email protected] | HTTP://WWW.TOMNEEL.COM
http://tomneel.rereport.com/
Search for recent sales & listings in your neighborhood, or in the neighborhood where you are
considering buying.
Local Market Trends November/December 2017 San Mateo County
Median Prices Set New All-Time Highs
How home buyers are getting robbed of their down payments
A hot new scam targets home buyers: down payment wire fraud.
Hackers send bogus emails, telling buyers where to wire the down payment money. The stolen money disappears. The home buyer ends up with an empty bank account and a broken heart.
Hundreds of millions of dollars have been stolen this way. But you can avoid that fate by making one phone call. It’s that simple.
How the scam happens
Stacy Hennessey, a real-estate agent in Falls Church, Virginia, was targeted with
this scam, but she didn’t fall for it. If you follow her example, you won’t get defrauded, either.
Hennessey was buying a house in Maryland. About a week before the scheduled closing, she received an email that appeared to be from her real-estate agent. The email told her that the instructions for wiring the down payment had changed, and it gave her an account number to which she should send $30,000.
Hennessey was suspicious for three reasons:
“They were asking me to wire an incorrect down payment amount, lower than it should
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The chart above shows the National month-ly average for 30-year fixed rate mortgages as compiled by http://www.freddiemac.com/.
THOMAS A. NEEL COLDWELL BANKER (650) 340-4400 [email protected] HTTP://WWW.TOMNEEL.COM CA BRE #00935828
2 Local Market Trends | November/December 2017 San Mateo County
Median Price The price at which 50% of prices were higher and 50% were lower.
Average Price Add all prices and divide by the
number of sales.
SP/LP Sales price to list price ratio or the price paid for the property divided
by the asking price.
DOI Days of Inventory, or how many days it would take to sell all the
property for sale at the current rate of sales.
Pend Property under contract to sell that
hasn’t closed escrow.
Inven Number pf properties actively for
sale as of the last day of the month.
| San Mateo County | November/December 2017 Local Market Trends 3
June Statistics
San Mateo County
This Real Estate Report is published and copyrighted by http://rereport.com. Information contained herein is deemed accurate and correct, but no warranty is implied or given.
Coldwell Banker 1427 Chapin Avenue Burlingame, CA 94010
Thomas A. Neel
have been,” she says. “Why would I wire a partial deposit?”
“And why would I be doing it now, several days before closing?” Usually, the down payment money is wired the day before closing.
The sender’s email address was almost, but not quite, her agent’s email address.
How to stop the scammers
Hennessey prevented crooks from stealing her $30,000 by making one call to her real-estate agent.
“I said, ‘Hey, did you send me this telling me to wire money?’ And they said, ‘No.’ And I said, ‘Your computer’s been hacked because they know that I’m a buyer, closing soon.’”
Had Hennessey followed the scammer’s instructions, she almost certainly would have lost the money. At the time, she
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didn’t even know whom she should have called if she had fallen for the scam.
To read the full story, go to this link: http://tinyurl.com/yc78fys8
This is not intended as a solicitation if your home is currently listed.
