While doing some reading yesterday, I came across this article at CNN Money: Housing Crunch, 90210. I found the statistics they quoted to be rather interesting.
One interesting statistic was that Atherton, California was still posting a 5% gain in median housing prices. As I’ve been telling you, the Mid-Peninsula is holding fairly strong, but as the article also said, “…many ritzy areas are finding they are not immune to the housing slowdown.”
Still, what’s the story for San Mateo County? Well the plain and simple facts are that it is entirely dependent on neighborhood.
I grabbed the comparable statistics for three months ending April 30 for San Mateo, Belmont and San Carlos median housing prices. The numbers vary widely for the three cities. San Mateo and San Carlos are down (13% and 10% respectively) while Belmont is up nearly 16%.
But let’s dig even deeper, let’s take the comparable stats for three neighborhoods. I picked San Mateo Park (San Mateo), Howard Park (San Carlos) and Belmont Country Club (Belmont), admittedly to illustrate my point. When I did that, it’s clear that taking cities, zip codes and counties as a whole simply does not work for real estate.
San Mateo Park is up 26%, Howard Park is up 34% and Belmont Country Club is up only 2% — all are vastly different than that their respective cities posted overall.
That said, it’s a good idea to stay informed of what your neighborhood looks like. Sign yourself up for a market snapshot and keep an eye on housing prices in your neighborhood.
Your home is your most important investment; keep an eye on it like you would any other.
If you have enjoyed LivingWellinSanMateo – san mateo county real estate, please subscribe to our RSS feed.
Tags: belmont country club, howard park, san mateo county housing market, san mateo county real estate, san mateo park
Raymond Stoklosa, Broker/Co-Owner
Chela Stoklosa, Realtor/Co-Owner
