The San Mateo Real Estate Price Report for September 2009 shows a slow and steady climb to recovery in the San Mateo County single family home market.

1. MarketWATCH A summary of market activity for
single family home sales in
San Mateo County
©Copyright 2009 Raymond Stoklosa • The RayChel Realty Group • (650) 655-2500

2. Phone: 650-655-2500 Fax: 1- 888-739-8184
Department of Real Estate #: 00657178
On behalf of The RayChel Realty Group, I am pleased to present the September 2009 edition of our MarketWATCH Report, a
guide to San Mateo County real estate prices published on a monthly basis.
How’s the San Mateo County real estate market? The quick answer is it’s improving – slowly and steadily. Newly initiated sales
of single family homes in September 2009 climbed to 790 reflecting a 51% increase in the number of pending sales when compared
to September 2008. 790 newly initiated single family home sales represent the largest number of pending sales San Mateo County
has seen since January 2006. 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).
Compared to national statistics, The San Mateo County real estate market is showing very favorable numbers. The National
Association of REALTORS® (NAR) reported that August 2009 home sales fell to a seasonally adjusted annual rate of 5.1 million
units, down from 5.24 million in July. Yet, San Mateo County home sales continue to trend upwards.
Even with historically low mortgage interest rates and the $8,000 tax credit for first time home buyers, much of the U.S. is
burdened with huge inventory backlogs and unprecedented unemployment. San Mateo County is fortunate that none of these
factors burden the area and consequently the current inventory of unsold single family homes (1,544) is modest at best. At the
current sell through rate, San Mateo County has less than two months inventory available for purchase.
When we compare the number of new listings vs. the number of new sales under contract (aka pending sales), we see a growing
positive divergence with pending sales exceeding new listings by 178 units. Generally, a market becomes stronger and more
favorable to sellers as the delta between pending sales and new listings grows.
Without a doubt, current figures pale when compared with the boom times of 2005-2006, but with every boom comes a bust. All
real estate markets are cyclical and San Mateo County is no exception.
Currently, the San Mateo County home resale market is more balanced than at any time this decade. While the average price now
exceeds $950,000, the median price hovers slightly less than $700,000 (actual $698,500). These prices reflect strong activity in the
lowest price quartile – the least costly homes on the market – where home buyers compete vigorously with investors seeking
bargains.
It’s important to note that San Mateo market activity is not indicative of any other part of the state or the country. A unique set of
circumstances exist here that don’t exist in other areas. That said, it is most likely that San Mateo County will begin to see various
segments of the market exhibit a variety of levels of strength and weakness.
Remember that selling a home is part beauty contest and part price war. Home buyers in San Mateo County are among the most
savvy and aware consumers in America and they are expecting value for their money. Take advantage of the resources and
information readily available to price your home accordingly.
Thank you for reading our report. Should you be interested in more information or have questions, please don’t hesitate to
contact us.
Sincerely,
Raymond Stoklosa
Co-Owner and Managing Broker, The RayChel Realty Group
Website: www.RayChelRealtyGroup.com Blog: www.LivingWellinSanMateo.com

3. Market Report for September 2009 Source: MLSListings, Inc.
Market WATCH
Market Report for September 2009
Single Family Homes in San Mateo County
Current New Sales Under Absorption Closed %LP Average Average Median Total
Year Month Inventory Listings Contract Rate Sales Recʹd DOM Price Price Volume
2009 Sept 1544 612 790 1.95 380 97.57 76 950,474 698,500 360,229,855
2009 Aug 1486 566 761 1.95 365 97.8 79 848,571 682,500 308,879,963
2009 July 1563 590 768 2.04 393 95.78 80 938,315 765,000 368,757,897
2009 June 1554 585 774 2.01 420 96.72 89 945,717 765,000 396,255,718
2009 May 1619 568 749 2.16 321 96.6 85 933,698 728,000 299,717,071
2009 Apr 1740 648 683 2.55 294 96.15 89 847,016 610,000 248,175,897
2009 Mar 1675 634 557 3.01 250 96.08 97 788,931 576,940 197,232,785
2009 Feb 1576 557 453 3.48 208 99.1 104 763,741 574,950 158,858,190
2009 Jan 1452 530 427 3.40 163 97.2 96 683,900 553,750 110,791,806
2008 Dec 1311 281 410 3.20 262 96.24 88 729,547 603,500 191,141,327
2008 Nov 1650 400 460 3.59 266 96.33 84 851,747 666,000 226,564,877
2008 Oct 1889 658 523 3.61 347 97.53 80 859,675 710,000 298,307,366
2008 Sep 1927 751 566 3.40 298 97.15 86 923,853 755,000 274,384,451
2008 Aug 1773 588 561 3.16 376 96.6 84 985,614 795,000 370,591,052
2008 July 1886 639 627 3.01 428 98.34 86 1,040,623 800,000 444,346,117
2008 June 1957 735 622 3.15 376 98.16 76 1,157,966 890,000 434,237,331
2008 May 1918 789 556 3.45 354 97.44 73 1,185,043 852,500 419,505,295
2008 Apr 1885 776 492 3.83 346 98.51 77 1,183,377 875,000 408,265,191
2008 Mar 1686 709 439 3.84 274 98.15 81 1,158,731 910,000 317,492,419
2008 Feb 1633 669 350 4.67 212 98.61 84 1,444,267 304,378,290
2008 Jan 1448 561 273 5.30 152 96.79 76 1,206,153 183,335,371
Prepared by The RayChel Realty Group
Raymond Stoklosa (650) 655‐2500 Copyright © 2009 The RayChel Realty Group. All rights reserved. info@RayChelRealtyGroup.com

4. Market Trends - San Mateo County
Current Inventory
2000
1957
1918 1927
1900
1885 1886 1889
1800
1773 1740
1700
1686 1675
1633 1650 1619
1600
1576 1544
1554 1563
1500
1448 1452
1486
1400
1311
1300
Jul-08
Jul-09
Jan-08
Jan-09
Jun-08
Jun-09
Oct-08
Feb-08
Feb-09
Sep-08
Sep-09
Dec-08
Apr-08
Apr-09
Mar-08
Mar-09
Aug-08
Aug-09
Nov-08
May-08
May-09
Prepared by:
Raymond Stoklosa The RayChel Realty Group
(650) 655-2500 Copyright © 2009 The RayChel Realty Group. All rights reserved. info@RayChelRealtyGroup.com

5. Market Trends - San Mateo County
New Listings
800
776 751
789
709 735
700
669 658 634
639 648 612
600 585
588 590
561 530 557 566
568
500
400
400
300
281
200
Jul-08
Jul-09
Jan-08
Jan-09
Jun-08
Jun-09
Oct-08
Feb-08
Feb-09
Sep-08
Sep-09
Dec-08
Apr-08
Apr-09
Mar-08
Mar-09
Aug-08
Aug-09
Nov-08
May-08
May-09
Prepared by:
Raymond Stoklosa The RayChel Realty Group
(650) 655-2500 Copyright © 2009 The RayChel Realty Group. All rights reserved. info@RayChelRealtyGroup.com

6. Market Trends - San Mateo County
Under Contract
800
768
790
750
749 774 761
700
683
650
622 627
600
561 557
550
556 566 523
500
492 460 453
450
439 410 427
400
350
350
300
273
250
Jul-08
Jul-09
Jan-08
Jan-09
Jun-08
Jun-09
Oct-08
Feb-08
Feb-09
Sep-08
Sep-09
Dec-08
Apr-08
Apr-09
Mar-08
Mar-09
Aug-08
Aug-09
Nov-08
May-08
May-09
Prepared by:
Raymond Stoklosa The RayChel Realty Group
(650) 655-2500 Copyright © 2009 The RayChel Realty Group. All rights reserved. info@RayChelRealtyGroup.com

7. Market Trends - San Mateo County
Absorption Rate Index
5.50
5.30
5.00
4.67
4.50
4.00
3.83
3.84 3.61 3.20 3.48
3.50
3.45 3.40
3.59 3.40 3.01
3.00 3.15 3.16
3.01
2.55
2.50
2.16
2.01 1.95 1.95
2.00
2.04
1.50
Jul-08
Jul-09
Jan-08
Jan-09
Jun-08
Jun-09
Oct-08
Feb-08
Feb-09
Sep-08
Sep-09
Dec-08
Apr-08
Apr-09
Mar-08
Mar-09
Aug-08
Aug-09
Nov-08
May-08
May-09
Prepared by:
Raymond Stoklosa The RayChel Realty Group
(650) 655-2500 Copyright © 2009 The RayChel Realty Group. All rights reserved. info@RayChelRealtyGroup.com

8. Market Trends - San Mateo County
Closed Sales
450
428
420
400
376 365
393
354 376 380
350 347
346
294 321
300 298
274
266 262
250 250
212
200 208
163
150
152
Jul-08
Jul-09
Jan-08
Jan-09
Jun-08
Jun-09
Oct-08
Feb-08
Feb-09
Sep-08
Sep-09
Dec-08
Apr-08
Apr-09
Mar-08
Mar-09
Aug-08
Aug-09
Nov-08
May-08
May-09
Prepared by:
Raymond Stoklosa The RayChel Realty Group
(650) 655-2500 Copyright © 2009 The RayChel Realty Group. All rights reserved. info@RayChelRealtyGroup.com

9. Market Trends - San Mateo County
% Sales Price vs. List Price
99.5
99.1
99
98.61 98.51
98.5
98.34
98.16
98.15
98
97.8
97.53
97.5
97.15 97.57
97.44
97.2
97
96.79 96.72
96.6
96.5 96.6
96.33
96.24 96.15
96
96.08
95.78
95.5
Jul-08
Jul-09
Jan-08
Jan-09
Jun-08
Jun-09
Oct-08
Feb-08
Feb-09
Sep-08
Sep-09
Dec-08
Apr-08
Apr-09
Mar-08
Mar-09
Aug-08
Aug-09
Nov-08
May-08
May-09
Prepared by:
Raymond Stoklosa The RayChel Realty Group
(650) 655-2500 Copyright © 2009 The RayChel Realty Group. All rights reserved. info@RayChelRealtyGroup.com

10. Market Trends - San Mateo County
Average Days on Market
105 104
100
96 97
95
90
86 89 89
86 88
84
85
84 85
84
81
80 79
77 80 80
76
75 76
76
73
70
Jul-08
Jul-09
Jan-08
Jan-09
Jun-08
Jun-09
Oct-08
Feb-08
Feb-09
Sep-08
Sep-09
Dec-08
Apr-08
Apr-09
Mar-08
Mar-09
Aug-08
Nov-08
Aug-09
May-08
May-09
Prepared by:
Raymond Stoklosa The RayChel Realty Group
(650) 655-2500 Copyright © 2009 The RayChel Realty Group. All rights reserved. info@RayChelRealtyGroup.com

11. Market Trends - San Mateo County
Median Price
950,000
910,000
875,000 890,000
850,000
852,500
800,000
795,000 765,000 765,000
755,000
750,000
710,000 728,000
666,000 698,500
682,500
650,000
603,500
610,000
574,950
553,750
576,940
550,000
Jul-08
Jul-09
Jan-09
Jun-08
Jun-09
Oct-08
Feb-09
Sep-08
Sep-09
Dec-08
Apr-08
Apr-09
Mar-08
Mar-09
Aug-08
Nov-08
Aug-09
May-08
May-09
Prepared by:
Raymond Stoklosa The RayChel Realty Group
(650) 655-2500 Copyright © 2009 The RayChel Realty Group. All rights reserved. info@RayChelRealtyGroup.com

12. Market Trends - San Mateo County
Average Price
1,450,000
1,444,267
1,350,000
1,250,000
1,158,731 1,183,377
1,157,966
1,206,153
1,150,000
1,185,043
1,050,000
985,614 950,474
1,040,623
938,315
950,000
923,853 859,675 933,698 945,717
847,016
850,000
851,747
848,571
763,741 788,931
750,000
729,547
683,900
650,000
Jul-08
Jul-09
Jan-08
Jan-09
Jun-08
Jun-09
Oct-08
Feb-08
Feb-09
Sep-08
Sep-09
Dec-08
Apr-08
Apr-09
Mar-08
Mar-09
Aug-08
Aug-09
Nov-08
May-08
May-09
Prepared by:
Raymond Stoklosa The RayChel Realty Group
(650) 655-2500 Copyright © 2009 The RayChel Realty Group. All rights reserved. info@RayChelRealtyGroup.com

13. Market Trends - San Mateo County
Total Sales Volume
450,000,000 444,346,117
419,505,295
434,237,331
396,255,718
400,000,000
408,265,191 368,757,897
360,229,855
370,591,052
350,000,000
317,492,419 298,307,366
300,000,000
304,378,290 299,717,071 308,879,963
274,384,451
250,000,000
248,175,897
226,564,877
197,232,785
200,000,000
183,335,371 191,141,327
158,858,190
150,000,000
110,791,806
100,000,000
Jul-08
Jul-09
Jan-08
Jan-09
Jun-08
Jun-09
Oct-08
Feb-08
Feb-09
Sep-08
Sep-09
Dec-08
Apr-08
Apr-09
Mar-08
Mar-09
Aug-08
Aug-09
Nov-08
May-08
May-09
Prepared by:
Raymond Stoklosa The Ray Chel Realty Group
(650) 655-2500 Copyright © 2009 The RayChel Realty Group. All rights reserved. info@RayChelRealtyGroup.com