San Mateo County has considerably more properties for sale on the active market than last year at this time. If you are a buyer, this is definitely the time to jump in.
(Ignore the interest rates, just jump in. You can always refinance at a later date).
You will have much more choices now so as a buyer, you will have much more flexibility that even a year ago. Now, this doesn’t
guarantee that you will be able to purchase a ‘bargain prices’, but you should have less competition. Having said that, competition is what drives prices up.
We are still witnessing multiple offers and closed sale prices over the list price. Why?
If it is a good house, in good condition, and located in a good place, it will very likely gather the attention of several buyers.