Dataquick report for Jan 2009 – San Mateo median drops to 489.5K
In this Dataquick report for the nine county Bay Area, pretty much every county’s sales went up except for San Mateo and San Francisco. Here are the important tidbits about San Mateo:
- 34.1 percent of sales in January were foreclosed within 12 months
- 273 home were sold in the entire month, which is 7.5% below last year
- Median price is now $489,500 compared to $650,000 last year.
Another interesting factoid is this:
- Typical monthly mortgage Bay Area residents committed to pay was $1297 last month, compared to $2571 a year ago.
It seems like it may be becoming cheaper to buy in some parts of the Bay Area. This is the fifth consecutive month of sales growth for the Bay Area overall, but San Mateo County is still declining every month. Basically, this county has yet to reach the bottom.
February 19, 2009 | Filed Under All Cities, News
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