August Market Update

August Market Update

Hello, friends!

As your trusted resource for all things real estate, I wanted to pass along the most recent market date for San Mateo County and the Greater Bay Area. Whether you’re buying or selling, we want to make sure you have the most pertinent information possible! It is all part of Meraki’s mission to give you the very best in personalized service. Please reach out should you have any questions about what this information means for you!

The National Bureau of Economic Research reports that as of July 2019, we are officially in our country’s longest economic expansion period. In May, the unemployment rate dropped to 3.6%, which is the lowest it has been since 1969. Despite this, the Federal Reserve (the Fed) lowered the Federal Funds Rate by a quarter point on July 31st, typically signaling that the economy needs a little push. Why?

Overall, our Gross Domestic Product (GDP) only grew by 25%, which is very slow compared to past economic expansions. Also, the Consumer Price Index (CPI), which measures inflation, is below the Fed’s target of 2%. The Fed seems to be wrestling with the reality of slowing growth, an aging workforce, and low inflation across the United States. In fact, they labeled the rate decrease as a “readjustment” to get interest rate policies in-line with this new economic paradigm.

Normally, there is an inverse correlation between interest rates and home prices in that lower mortgage rates are usually a boom to the housing market. This month, however, mortgage rates had little impact on the market overall. The disconnect between mortgage rates and home prices poses a problem for the Fed’s efforts to stoke economic expansion.


As you can see in this graphic, with data sourced from the California Association of Realtors, San Mateo County has the second highest median home sale price in the Greater Bay Area! This area is a hot place to live in right now and continues to attract people from across the globe, especially growing families and tech entrepreneurs.

Despite having the second highest home price in the Bay Area, homes in San Mateo County actually are priced the highest per square foot.

The Greater Bay Area housing market remains one of the most dynamic in the country because it’s defined not only by the country’s macroeconomics factors, but also by the tech industry, the IPO market, and foreign buyers. For this reason, the county regularly sees more variance in month-to-month median prices. For more information on what this could mean for you and your real estate goals, please do not hesitate to reach out with questions. I am here to serve you!

Recent Blog Posts

Stay up to date on the latest real estate trends.

Real Estate

Best Places to Catch Holiday Cheer in the Bay Area

It is the Holiday season and we would like to tell you about some upcoming events so you can join in and grab some Holiday Cheer.

Rica's Heart

Cinderella Complex | November 2023

I have a confession to make. Some of you aren’t going to like it. In fact, some of you may think this is coming out of left field. You’re going to think this is comple… Read more

Real Estate

Thanksgiving Home Decorating Ideas

Show your family your Thanksgiving decorating skills and give them the Thanksgiving of their dreams.

Real Estate

See the Changing Colors of Fall in the Bay Area

Meraki Real Estate would love to take you around the Bay Area to our favorite places to see our favorite fall colors.

Rica's Heart

Attracting Butterflies | October 2023

If you spend your time chasing butterflies, they’ll fly away. But if you spend your time making a beautiful garden, the butterflies will come. Don’t chase, attract.

Real Estate

The Essential Guide: Steps to Successfully Close on a House

Closing on a house is an exciting and often nerve-racking process for homebuyers. It is the final step before officially becoming a homeowner. While it might seem over… Read more

Rica's Heart

Dreams Change Our World | September 2023

Our team recently had a vision board making party. We spent time sifting through magazines and surfing the Internet for images, words & phrases to complete our board… Read more

Real Estate

Fall in Foster City, California: Embrace Nature's Palette and Local Delights!

Fall in Foster City, California: Embrace Nature's Palette and Local Delights! Introduction: Nestled amidst the stunning landscapes of the San Francisco Bay Area, Fost… Read more

Real Estate

The Art of Home Staging: Maximizing Your Selling Price

The Art of Home Staging: Maximizing Your Selling Price Introduction: Selling a home is undoubtedly a significant milestone, and every homeowner wants to receive the b… Read more

Let’s Talk

You’ve got questions and we can’t wait to answer them.