Copyright by KW Advisors 2024 March 2024
Peninsula Estates
Alameda County
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What’syourhome reallyworthin today’smarket?
That's the question you should be asking yourself.
Our market is incredibly diverse and rapidly changing. Values vary not just by neighborhood but by street. Your home isn't necessarily worth what your neighbors' home is. It's the current market that sets the value of your home.
So, do you know what your home is worth in today's market?
Icanhelp...
Contact me for a confidential, no obligation assessment of your home's value.
WhatToKnowAboutCredit ScoresBeforeBuyingaHome
If you want to buy a home, you should know your credit score is a critical piece of the puzzle when it comes to qualifying for a mortgage. Lenders review your credit to see if you typically make payments on time, pay back debts, and more. Your credit score can also help determine your mortgage rate. An article from US Bank explains:
“A credit score isn’t the only deciding factor on your mortgage application, but it’s a significant one. So, when you’re house shopping, it’s important to know where your credit stands and how to use it to get the best mortgage rate possible.”
That means your credit score may feel even more important to your homebuying plans right now since mortgage rates are a key factor in affordability. According to the Federal Reserve Bank of New York, the median credit score in the U.S. for those taking out a mortgage is 770. But that doesn’t mean your credit score has to be perfect. The same article from US Bank explains:
SFH Single-Family Homes
744 New Listings
441 Sold Listings
1.5 Months of Inventory
$1.3M Median Sale Price
108.1% Median Sale vs List
22 Avg Days on Market
The data, sourced from MLS Listings Inc, includes all single-family homes, condos and townhomes in the California Area from February 2023 to February 2024. This may include preliminary data, and may vary from the time the data was gathered. All data is deemed reliable but not guaranteed. DRE# 01906450. Copyright KW Advisors Peninsula Estates | Burlingame | San Mateo 2024. Each office is independently owned and operated.
Condo & Townhomes 331 New Listings 2.2 Months of Inventory $728k Median Sale Price 102.3% Median Sale vs List 24 Avg Days on Market 175 Sold Listings
CONDO
FEBRUARY 2023 - FEBRUARY 2024 r-year. , y r-year 2023 Aug2023 Sep2023 Oct2023 Nov2023 Dec2023 Jan2024 Feb2024 l2023 Aug2023 Sep2023 Oct2023 Nov2023 Dec2023 Jan2024 Feb2024 SOLD LISTINGS
aCounty
Median SalesPrice
Single-Family Homes
The median sales price has increased from $1m last February 2023, to $1 3m as of February 2024
Condos & Townhomes
The median sales price has increased from $691k last February 2023, to $728k as of February 2024
AVGDays OntheMarket
Single-Family Homes
The average time spent on the market went down from 30 days last February 2023, to 22 days as of February 2024
Condos & Townhomes
The average time spent on the market went down from 36 days last February 2023, to 24 days as of February 2024.
Overbids
Single-Family Homes
The overbid percentage has increased from 104 5% last February 2023, to 108 1% a year later
Condos & Townhomes
The overbid percentage has increased from 99.8% last February 2023, to 102.3% a year later.
Back to Table of Contents Feb2023Mar2023Apr2023May2023 Jun2023 Jul2023Aug2023Sep2023Oct2023Nov2023Dec2023 Jan2024Feb2024 $0 $200,000 $400,000 $600,000 $800,000 $1,000,000 $1,200,000 $1,400,000 Feb2023Mar2023 Apr2023May2023 Jun2023 Jul2023Aug2023Sep2023 Oct2023Nov2023Dec2023 Jan2024 Feb2024 0 10 20 30 40 50 Feb2023Mar2023Apr2023May2023 Jun2023 Jul2023Aug2023Sep2023 Oct2023Nov2023Dec2023 Jan2024 Feb2024 000% 2000% 4000% 6000% 8000% 10000% 12000%
1430 Howard Avenue, Burlingame, CA 94010 KellerWilliamsPeninsulaEstates Martin Santiago Broker Associate DRE #01930626 (415) 850-7704 brokermartinsantiago@gmail.com www.brokermartinsantiago.com
TOP 10% in San Mateo County per MLS Sales Report