How is San Mateo County Weathering the RE Storm?

I found an informative and concise blog post over at the San Mateo Home Sellers in Trouble - Bay Area Real Estate Bubble blog that captures how our fair cities are doing these days when it comes to sales prices. According to their May update, there is a 463% increase in homes on the market for less than they were purchased originally, which adds up to 575 homes. And that’s just comparing the data to last October! That’s a big ouch.

Where are the big problems? Not surprisingly, S. San Francisco has 89, E. Palo Alto and Daly City have 84, Redwood City with 73, San Mateo with 69, and San Bruno with 61.

Next up is Pacifica with 37, Menlo Park with 14, Foster City and Half Moon Bay each with 13, then San Carlos with 8, Millbrae with 7, Belmont 6, Burlingame and Colma each with 4, and Brisbane 3.

As for the higher end communities, the post lists only 1 in Atherton, 1 in Hillsborough, and 1 in Woodside.

Raw data on the homes in each community is available via a link to download and peruse at your leisure. Kudos to this blog for their work in this area. The Peninsula doesn’t get much press on this issue, as the media concentrates on SF and the East Bay. Nice to see someone caring enough to do the work and share it with us all.

Look for my post later today on the stale listings in San Mateo. You never know, you might find a bargain!

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Oakland: Bank-Owned Listings
Do You Owe More Than Your House is Worth?
Buy 1 Get 1 Free?