Foster City Has Fewest Homes Sold in San Mateo County
Among the cities surveyed in the San Mateo County Real Estate Price Report, Foster City has the distinction of having the fewest homes sold (8) in October, 2009. Only 1 of 8 Foster City home owners felt the need to reduce their asking price to sell their home.
Foster City Homes Selling Faster than September 2009
Days on Market are probably the best indicator of Foster City real estate activity level. As Days on Market lengthens, activity stalls and as Days on Market shorten, activity increases. Considering the closed sales, it took Foster City home sellers 55 days to secure a buyer under contract as compared to 48 days for the pending sales that have not yet closed escrow. This indicates that the market demand holds fairly steady as Foster City homes sold take about as much time to market as the newest pending sales.
We Track Sales Price vs. Original List Price (Not List Price at Time of Sale)
This report measures frequency of how much sellers received for their homes in relationship to the Original List Price because it is the most telling reflection of how realistic sellers are in setting their asking prices.
7/8 Foster City Homes Sold in Less than 30 Days
7 of 8 Foster City homes sold in less than 30 days with 4 receiving less than the Original List Price, and the single home that sold in more than 30 days sold for less than Original List Price as well.
Foster City has Narrowest Spread Between Least and Most Expensive Home
Currently on the Mid-Peninsula, Foster City has the narrowest spread between most and least expensive homes sold – $1,208,000 to $855,000. This is attributed to the relative newness of the area as compared to the more mature cities west of Highway 101 and Foster City has a much more homogenous housing composition.
Foster City has 2.5 Months Inventory
The peak inventory (45) level in Foster City occurred in April, 2009. With a current inventory of 20 Foster City homes for sale, at the present rate of sale, Foster City has just more than 2.5 months supply of homes on the market.
Foster City’s Median Sales Price on the Rise
The Foster City median sales price ($1,025,000) continues to climb since April, 2009 after reaching its all time peak ($1,250,000) in two separate months in 2008. With current inventories falling rapidly and approaching more normal levels, we expect more balance in the Foster City real estate market.
Download a Complete Copy of the San Mateo County Real Estate Price Report
To download a complete copy of the San Mateo County Real Estate Price Report for October, 2009 click on the Adobe PDF logo below. The complete report also contains the real estate price reports for San Mateo, Belmont, Foster City, San Carlos and Redwood City.
Download San Mateo County Price Report in PDF
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Click on the “Your Home’s Value” button below for a detailed report of what is going on in your neighborhood. All we need is a zip code and an email address and the report is on its way to you. View a sample market report.
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Raymond Stoklosa, Chela Stoklosa and Rebecca Williamson are Realtors with The RayChel Realty Group specializing in Santa Clara and San Mateo Real Estate.
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Raymond Stoklosa, Broker/Co-Owner
Chela Stoklosa, Realtor/Co-Owner
