San Mateo Home Sellers in Trouble #4 — 10/8/2007 to 10/21/2007

So two weeks ago I started to look at San Mateo real estate in decline on Redfin. Today I did another scan of the San Mateo properties that have been listed on Redfin for less than 14 days. I found another 46 properties that have listing prices lower than their last selling prices. There were about 300 to 400 properties in San Mateo County that were listed on Redfin in the last 14 days, so that means 46 properties is a little more than 10% of all the new properties coming up for sale. After I looked through the properties it seems that at least a couple are old listings with new lower prices. Here are some highlights of these listings.

Total Count of San Mateo Home Sellers in Trouble for 10/8/2007 to 10/21/2007: 46

Average Time from Last Sale Date: 1.55 Years

Average Annualized Loss: 13%

Average Size of Home: 1256 Sqft

Average Price Per Square Foot: $522 

Biggest Loser: 1 Mandalay Pl #807, South San Francisco with an annualized loss of 99.7%

These properties are once again a mix of luxury homes, bank owned foreclosed properties, and other unfortunate homes. The averages definitely looks worse than the report two weeks ago. Basically, the losses are bigger and the homes are bigger. However, the first set of data had a larger sample size so it’s unfair to do a direct comparison. I have started a new page on this site to keep track of the data I have collected. Since the tables are quite big and break the flow of this blog I decided to put them in separate web pages. Feel free to link to the summary page!

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