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S.F. Peninsula Real Estate Report for May 2020

Jul 02, 2020  , ,

What Happened With San Francisco and the Peninsula Real Estate?

The real estate market remained fairly stable from April to May on the Peninsula with fluctuations ranging from -1% to -7.7% except for Menlo Park where the decrease was 18.3%.  Here are some other statistics you might find interesting:

Belmont:

Average sales price- $1,688,777 (-7.7%)
Average days on market- 22
Price received was 3% more than asking

Menlo Park:

Average sales price-$2,568,588 (-18.3%)
Average days on market- 20
Price received was same as asking price

Foster City:

Average sales price- $1,875,225 (-1%)
Average days on market- 9
Price received was 4% more than asking

San Carlos:

Average sales price- $2,036,394 (-0.4%)
Average days on market- 21
Price received was 1% more than asking

San Mateo:

Average sales price- $1,715,112 (-5%)
Average days on market- 21
Price received was the same as asking

It is obvious from this analysis that we are still in a seller’s market on the Peninsula.  With little fluctuation in price month-to-month, short times sitting on the market, and sellers receiving the same or over asking price, real estate remains a healthy investment here.

If you have been turned down elsewhere for a loan to purchase property or borrow against the equity in your home, give Sun Pacific Mortgage a call at 707-523-2099.  We have been in the hard money lending business for over 30 years and are trusted by both our investors and buyers for the fast, honest service we provide our clients.

Lead Loan Originator at family owned and operated Hard Money company, Sun Pacific Mortgage & Real Estate "California North Bay Hard Money Loans Specialist!"