Generally speaking, after years of high appreciation rates, annual 2019 Bay Area median home prices went down a little bit, went up a little bit or basically remained unchanged as compared to 2018. San Mateo County was one of the markets that saw no year-over-year change.
For 2020, economist Ken Rosen at UC Berkeley has said he expects the Bay Area median price to remain basically flat, within a general range of up or down 2% – in other words, similar to what happened last year. We can’t predict the future, but that doesn’t sound unreasonable, and happily avoids the sensationalism of many other media-grabbing forecasts.
Median sales prices are generalities and not exact measurements of changes in fair market value. They can be affected by a number of factors and are sometimes subject to anomalous fluctuations. This is especially true of very affluent communities – such as Atherton, Woodside and Portola Valley – that have relatively few sales across a very wide range of sales prices.
How they apply to any particular home is unknown without a specific comparative market analysis.
Economic Factors Affecting
Real Estate Markets