It seems that California has weathered the real estate market storms are beginning to see growth! The San Mateo
Coastal area is no different and has seen an increase in home median prices and sales. According to a recent study from MDA Data Quick, statewide median home prices rose 11% in February and total sales were up 8%. It is apparent that we are on the upswing of the last year or so of economic recession.
According to First American Core Logic statisticians, the next 12 months will bring about a gain of 4.5% in home prices. Last month alone, an estimated 28,111 new and resale houses and condos were sold in California, which rose 9% from January sales. The average mortgage payment last month was $1,068.
The below chart shows the growth in Median Home Sale Prices from 2009 to 2010 San Mateo Coastal Real Estate market.
It’s exciting time in the San Mateo Coastal area as we are seeing new homes coming on the market and are seeing properties sold! If you are looking for a home in this desirable Coastal region, we’d love to assist you in your search. We currently have some great properties available which we would be happy to show you! Looking to sell? We can help you through the process from start to finish! We look forward to hearing from you!
Kathy & Michael Rain
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