SAN MATEO, CA, October 13, 2009
/24-7PressRelease/ -- The latest San Mateo Real Estate Price Report released by The RayChel Realty Group, released today, indicates that the local real estate market is showing steady signs of a recovery.
"We have been seeing positive indicators in the market now for some time," says Raymond Stoklosa, owner and Managing Broker of The RayChel Realty Group, "This month marked the fifth straight month where the number of pending sales exceeded the number of new listings. Generally markets grow stronger as the delta between pending sales and new listings grows."
The report also indicates that the current inventory of unsold single family homes is 1,544 - and at the current sell through rate, this accounts for less than two months inventory available for purchase - another strong sign for San Mateo County. Even more good news: the average price continues to climb and more San Mateo County homes were sold in September 2009 (380) than in September 2008 (298).
"It's important to note that San Mateo market activity is not indicative of any other part of the state or the country and vise versa. A unique set of circumstances exist here that don't exist in other areas. That said, we predict that San Mateo County continue to see segments of the market exhibit variable levels of strength and weakness."
A complete version of The San Mateo Real Estate Price Report for September 2009 can be viewed at http://www.LivingWellinSanMateo.com/san-mateo-market-reports.
About The RayChel Realty Group
The RayChel Realty Group has been coaching clients through smooth real estate transactions by providing unparalleled expertise, superior guidance and sound advice for over 30 years. For more information, please contact us at (650) 655-2500.
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