The average price of a home is much different than the average price for all of San Mateo but the price per square foot is very similar.
Real estate statistics for many San Mateo neighborhoods can be reached from:
94401 shows fewer large houses than 94403 or 94404 for completed sales since 7/1/2012.
94401 no. homes > 2000 sf = 8 out of 140
94403 no. homes > 2000 sf = 27 out of 151
94404 no. homes > 2000 sf = 33 out of 152
Schools can play a very important factor in home prices in part because it is a self fulfilling factor. Good school scores attract people who will spend more money to get their kids in good schools who in turn tend to be people who can put more resources into helping their kids succeed.
Juliana Lee, MBA LLB
Top 3 agent nationwide at Keller Williams Realty
Over 20 years experience
Over 1,000 home sales completed in San Mateo and Santa Clara counties
That's a good question. Zip codes are zip codes....right? Basically in comes down to the desirability of the area/neighborhood.....or zip code. Yet even within a specific zip code there will be areas/neighborhoods that are more or less expensive. Factors that influence prices in a certain area/neighborhood include: Size,design and quality of original homes and how neighborhood is laid out. Are there parks, schools, shopping, transportation within walking distance or hearby? What type and how nice are the schools, parks, shops, etc? What percentage of properties are rentals? Rental properties are in general not as well kept, therefore a neighborhood might not look as nice if it has a higher percentage of rental homes
An interesting fact: As a general rule of thumb, in San Mateo (and other cities on the Peninsula) there are certain boundary lines that separate neighborhoods, tracts of housing. When you cross one of these "boundaries"....prices go up (or down). The boundary lines I speak of are Hwy 101, El Camino Real and Alameda de las Pulgas. The least expensive homes (generally) are on the East side of Hwy 101. The homes situated west of Hwy 101 and east of El Camino are more expensive than east of Hwy 101. Go west of the El Camino and the homes are generally priced higher......and the same is true with The Alameda.
If you haven't already done it.....drive through the South Shoreview neighborhood (east of Hwy 101)...just cruise the streets. Then drive through the Sunnybrae, Fiesta Gardens neighborhood or San Mateo Village. You'll note a difference in the "feel" of all of these neighborhoods. Look at the streets, the homes and how they're kept. You'll then know why prices are different. I hope this help you!
There is a listing coming up a couple of blocks away from Nortorn, completely remodeled, a little further away from the freeway.
Best of luck,
To continue where I left off: By driving the neighborhood in different dayparts, you'll add to your perspective of the neighborhood in general. You might even find streets or areas that you'll target to buy, or rule out for your own personal reasons.
Lastly, I will add this regarding the Shoreview: There are very few "walking" destinations in this neighborhood, compared to other areas. Specifically, There is only 1 shopping area in the South Shoreview, and really nothing in the North Shoreview. To go shopping means driving to most Shoreview owners. The local market there is not a "chain" market, will you shop there? If not where will you have to go to shop? These are seemingly small details, but they are part of living in the Shoreview and things you might not otherwise think about in your search for a home/neighborhood.
Price is driven by demand. I've noticed that folks that are buying entry level homes seem to generally believe that several sections of 94401 are less desirable locations than many adjacent neighborhoods. I've had some people tell me they think there is gang activity present, I've heard others say there's a higher crime rate there, and still others have commented that eastern parts of 94401 are less desirable in general.
These are all opinions shared with me by buyers. I personally live pretty close to the boarder of 94403 and 94401, and on a daily basis, I don't see evidence of any of these comments being true.... I do notice that the schools (in particular Parkside, in my opinion) could be much better.
In the end it comes down to demand, and much of the 94401 location seems to have a slightly lower demand, for various reasons.
Location is a set of factors that include the quality and price of housing, income level of the residents, quality of schools, recreational opportunities, access to transportation, crime rates, etc. If the neighborhood satisfies your requirements and you can afford it - buy a house and live in it happily ever after.