Condo & Townhouse Inventory

Street Address Status List Price Beds Baths Bldg SqFt DOM
740 PROMONTORY PT LN #3303 A 1298000 2 2 1/2 2224 140
720 PROMONTORY PT LN #2207 A 1239000 3 2 1/2 2264 104
720 PROMONTORY PT LN #2109 A 999000 3 2 1/2 2264 103
276 BEACH PARK BL A 895000 4 2 1/2 1700 25
830 BALBOA LN A 859000 3 2 1/2 2140 17
1 BINNACLE LN A 848800 2 2 1/2 1730 1
755 NEPTUNE LN P 759000 4 2 1/2 1700 14
817 SPRUANCE LN A 749000 3 2 1/2 1700 19
663 DRACO LN A 749000 4 2 1/2 1920 7
881 BALBOA LN A 748888 2 2 1/2 1780 3
1023 HELM LN A 748000 2 2 1240 49
42 E COURT LN A 729800 3 2 1/2 1580 61
13 COMMONS LN A 725000 2 2 1/2 1530 32
860 MERIDIAN BAY LN #235 A 725000 3 2 1606 19
211 COMMONS LN A 719000 2 2 1/2 1410 1
816 JUNO LN A 715000 3 2 1/2 1330 29
247 BONITA P 699900 3 2 1/2 1370 21
778 GEMINI LN A 699000 3 2 1/2 1430 10
211 VILLAGE LN A 688000 2 2 1/2 1260 81
774 COMET DR A 675000 3 2 1/2 1290 123
820 SEA SPRAY LN #206 A 675000 3 2 1535 56
880 MERIDIAN BAY LN #207 A 668000 2 2 1350 21
880 MERIDIAN BAY LN #107 P 659000 2 2 1350 13
780 SEA SPRAY LN #201 A 599800 2 2 1214 26
710 COMET DR A 595000 2 1 1/2 980 16
1171 COMPASS LN #213 P 595000 3 2 1593 24
1131 COMPASS LN #303 A 590888 2 2 1286 208
1061 BEACH PARK BL #304 A 565950 2 2 1250 149
1061 BEACH PARK BL #307 A 550000 2 2 1286 166
1061 BEACH PARK BL #204 A 545000 2 2 1349 81
280 BONITA LN A 540000 2 2 1050 42
1041 SHELL BL #1 A 539000 2 2 994 66
900 BEACH PARK BL #147 A 529000 2 2 1060 286
1025 SHELL BL #1 A 529000 2 2 994 59
924 BEACH PARK BL #15 A 525000 3 2 1460 34
1057 SHELL BL #10 A 519000 2 2 1042 14
1041 SHELL BL #3 A 499000 2 2 1032 38
914 BEACH PARK BL #77 A 499000 2 2 1087 17
820 SEA SPRAY LN #102 P 499000 2 2 1500 115
7209 ADMIRALTY LN A 469950 2 1 1/2 998 104
5209 ADMIRALTY LN P 465000 2 1 1/2 998 73
800 SEA SPRAY LN #109 A 448109 1 1 953 10
252 BONITA LN P 423000 1 1 724 10
288 BONITA LN P 419000 1 1 724 18
820 SEA SPRAY LN #217 A 400000 1 1 1053 263
230 BONITA LN P 399950 1 1 700 5
1049 SHELL BL #11 A 329888 1 1 825 199

 

The Condo/Townhouse segment of the market has some similarities and some differences to the Single Family market. It’s similar in the sense that it also has slowed down. Today we have 39 units on the market and 9 pending sales. Last time I did this we had 36 active with 13 pending sales. There’s a couple of things, in my opinion, that have a big impact on sales in FC. One is the fact that it’s become harder to get a loan for entry level buyers since more down payment is typically required, and/or lender criteria is so much more strict. It’s ironic that the lower price ranges are having the hardest time right now, but that’s the reality. When you combine that with the fact that some entry level projects have association dues approaching $500.00 a month and it becomes understandable why it’s slow. Interestingly, in the middle range with prices between $650,000 and $825,000 in Townhouses there isn’t much inventory…and what comes up is getting plenty of interest. Here’s some that are worth a look…and should sell pretty fast:

663 Draco Lane listed by Nonnie Dinges of Cashin Company for $749,000. This property needs some updating cosmetically, but you sure can’t argue with the price. It’s a large 4 bedroom, 2.5 bath 1920 square foot townhouse. Certainly you’ll not find any single family house with this much space anywhere near this price…the dues are under $300.00 a month too.

881 Balboa Lane listed by Lorelei Keim of Coldwell Banker for $748,888. This one’s my favorite right now in Foster City…it’s really gorgeous! Wide water front at the Islands with great views, 1780 square feet, 2 bedrooms with a family room. Great price too…just for fun go see the open house.

778 Gemini Lane listed by Patricia Dwyer of Cashin Company for $699,000. Much like the Draco property above…it’s an 1890 square foot 3 bedroom, 2.5 bath place. Same lower dues and decent price. Shell Cove has held it’s value pretty well.

Again, I’m thinking these places will sell sooner rather than later…we’ll see!

Comments

  1. Jennifer says:

    Jim, how about that 3 bed, 2.5 bath townhouse (42 E Court Ln) in Cityhomes East that’s been languishing even after the price drop? What’s keeping it from “moving quickly”? Many posts back where you talked about neighborhoods, you said that Cityhomes townhomes hold their value pretty well. Is $730,000 too high for a 3 bedroom unit there? I would think otherwise, since 3 bedroom units are rare in that complex.

  2. Jim Minkey says:

    I actually don’t think $730,000 is unreasonable. Unfortunately, it’s a short sale. I have no doubt that’s slowing the process for them.

  3. Hi Jim,
    how about 816 Juno lane, it seems it is in higher end??? comment please???and the HOA is also high, and i heard that it will be going up very soon in that community???

  4. Hmm, I noticed 816 Juno is a pending sale and i couldn’t help wondering if you’re the buyer Davi? That’s actually OK…it wouldn’t be the first time on the blog. I’m not sure what you mean by “higher end”. To me, it’s price seems OK and I would suspect it went for a little below $715,000? Isle Cove has long been one of my favorites and this unit sure did show well. The HOA of $438.00 is high…but it’s not much different than lots of other projects in town. I looked at the disclosures and didn’t see anything about any impending assessment of increase in monthly dues. I’m not going to talk you out of it Davi…I kind of like the place.

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