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Welcome to The Rossetti Realty Market Update.
If you’re considering buying or selling residential real estate, it’s essential to understand the current market trends.
According to MLS Listings, the marketplace for San Mateo County residential properties here’s what happened in December 2023 versus January 2024:
The Number of SOLD listings decreased by 53% to 25 properties, with a top sale of $4,600,000 million at 230 W Poplar Avenue.
The Average Sales Price increased by 6% to $1,540,416 million, and the Average Price Per Square Foot down to $925 per square foot.
As measured in months supply, the inventory of properties available for sale increased by 180% to 2.80 months’ worth of properties for sale.
The average 30-year fixed mortgage rate decreased to 6.84%, according to Bank Rate.com.
If you’re considering buying or selling residential real estate, don’t hesitate to contact Gail.
