BUYING A HOME ON THE MID PENINSULA, RIGHT NOW
It's been 2-3 years since our market bottomed and property values have increased by more than 20% in the last 12-18 months alone. It's unclear exactly where the market will go this year, given the recent changes we've seen in home prices and mortgage interest rates, but I can give you an idea of what it cost to buy right now. Here's a look at some pretty basic parameters for Redwood City, San Carlos, Belmont, San Mateo, Foster City, and Redwood Shores given sales we've seen in the last 30 days.
1 bedroom 1 bath condos-
With 10 sales in the last 30 days, the lowest sale price of a 1br/1ba condo was $302,000, the average $398,350, and the highest $480,000. The median sale price was $382,750. 3 out of these 10 sales were less than $380k, 4 of the 10 sales were above $400k. To see photos and info on each home click here.
2 bedroom 1 bath single family homes-
With 15 sales in the last 30 days, the lowest sale price of a 2br/1ba single family home was $525,000, the average $694,633, and the highest $1,065,000. The median sale price was $675,000. 7 out of these 15 sales were less than $675k, 5 out of the 15 were above $700k. To see photos and info on each home click here.
3 bedroom 2 bath single family homes-
With 46 sales in the last 30 days, the lowest sale price of a 3br/2ba single family home was $620,000, the average $1,081,415, and highest $1,835,000. The median sale price was $1,120,000. 17 out of the 46 sales were less than $1M, 9 out of these 17 under $1M were above $760k. To see photos and info on each home click here.
There were not as many sales in the last 30 days as there typically is for a 30 day period, respectively due to the low inventory we saw in November and December. If you look at home sales from months prior these figures might slightly differ- meaning prices may be higher or lower than indicated above. If you have questions about buying a home, qualifying for a loan, or just want help in figuring out where to start, call me, text me or shoot me an email and I'll be happy to point you in the right direction.