First Half 2008 Sold Houses

Street Address Orig List Price List Price Sale Price DOM Beds Baths Bldg SqFt
642 GREENWICH LN 1698888 1698888 1634000 10 4 2 1/2 2240
390 BRAMBLE CT 1680000 1680000 1600000 29 5 4+ 2930
763 MATSONIA DR 1645000 1645000 1645000 10 5 3 2996
1024 WINDJAMMER CI 1688000 1598000 1450000 41 5 2 1/2 2830
1001 MONTEREY AV 1529000 1529000 1529000 28 3 2 1/2 2350
606 PORTSMOUTH LN 1599000 1499000 1450000 78 5 4+ 2950
921 LURLINE DR 1460000 1460000 1399000 75 5 2 1/2 2530
938 ARUBA LN 1399000 1399000 1389000 40 3 2 1/2 2290
837 GRENADA LN 1449000 1399000 1380000 80 4 2 1/2 2530
376 BOWFIN ST 1385000 1385000 1350000 24 4 2 1/2 2620
1401 MELBOURNE ST 1375000 1375000 1300000 13 5 3 2280
1382 HALIBUT ST 1358888 1358888 1358888 11 4 2 1/2 2670
774 WIDGEON ST 1349000 1349000 1350000 28 4 2 1/2 2890
1123 FARRAGUT BL 1348000 1348000 1400000 10 4 3 3230
1184 ESSEX LN 1349950 1299950 1300000 69 3 2 1/2 1790
876 POLARIS AV 1299000 1299000 1362000 14 5 2 1/2 2680
605 MYSTIC LN 1285000 1249000 1140000 126 3 2 1/2 1790
275 SANDPIPER CT 1248888 1248888 1250000 10 5 3 2540
1064 WINDJAMMER CI 1248000 1248000 1298000 8 4 2 1/2 2830
310 TRYSAIL CT 1279000 1220000 1159000 128 5 3 2560
510 NOTTINGHAM LN 1199000 1199000 1252000 14 5 3 2250
158 FLYING MIST IS 1235000 1199000 1180000 43 4 2 2340
800 MARLIN AV 1198888 1198888 1250000 5 5 3 2540
154 BARKENTINE ST 1198000 1198000 1200000 8 4 3 2360
601 BAINBRIDGE ST 1280000 1198000 1070000 16 4 2 1/2 2120
629 BRIDGEPORT LN 1168000 1168000 1142000 21 3 2 1/2 2000
970 GULL AV 1159000 1159000 1060000 46 4 3 2450
604 BRIDGEPORT LN 1238000 1136000 1125000 158 3 2 1/2 1940
241 MAINSAIL CT 1099000 1099000 1040000 50 4 2 2254
360 BOWFIN ST 1099000 1099000 1100000 8 4 2 1880
620 BRIDGEPORT LN 1088000 1088000 1088000 6 3 2 1/2 1940
816 MARLIN AV 988888 988888 975000 20 3 2 1890
392 BLUEFISH CT 988000 988000 956505 7 3 2 1860
247 PELICAN CT 998888 988000 980000 67 4 2 1780
450 BEACH PARK BL 1049000 985888 970000 123 4 2 1810
301 BOOTHBAY AV 975000 975000 986000 18 4 2 1470
250 CURLEW CT 990000 975000 870000 65 4 2 1/2 2160
1371 RIBBON ST 968000 968000 938000 12 3 2 1860
382 MENHADEN CT 968000 968000 942000 13 3 2 1600
831 ARGUS CT 968000 968000 968000 14 3 2 1820
216 KILLDEER CT 949000 949000 950000 18 5 3 2560
1249 MALTA LN 949000 949000 951000 8 3 2 1/2 1880
989 CRANE AV 949000 949000 925000 13 3 2 1890
430 PORT ROYAL AV 924900 924900 951000 7 3 2 1720
748 CRANE AV 960000 920000 915000 21 5 2 1930
633 CRANE AV 920000 920000 910000 24 4 2 1770
40 WILLIAMS LN 919000 919000 917000 10 3 2 1/2 1670
58 WILLIAMS LN 908800 908800 900000 71 3 2 1/2 1550
833 CHRYSOPOLIS DR 970000 899888 887180 142 4 2 1670
258 PUFFIN CT 899000 899000 900000 14 3 2 1840
711 CORONADO LN 1098000 899000 890000 334 4 2 1/2 1930
806 CHRYSOPOLIS DR 898000 898000 838750 8 4 2 1770
864 MARLIN AV 888000 888000 890000 8 3 2 1890
699 SATURN CT 865000 865000 855000 0 3 2 1820

 

In the past I’ve done market updates that have shown the currently active listings as well as the pending sales. I thought it would be worth it to post the sold homes in Foster City for the first half of this year as well. These sold comps actually bleed a little bit into July but I’ll try to adjust to that when I do this again at the end of the year. The chart above shows the 54 single family homes that have closed escrow through the first weeks in July. The highlighted properties reflect homes where their asking prices were reduced prior to receiveing a ratified offer…there’s 14 of them. I commonly hear people say “I see all these price reductions…the market must be really slow!” In my opinion 14 price reductions out of 54 solds isn’t too bad. Secondly the question has to be asked, what factors led to those reductions? In many of these cases the homes sold right about where they should have…they were priced too high to begin with.

If you’re thinking of being ambitious and crunching these numbers yourself…have fun! I’ve been trying to do it all day today! It’s hard to do this, there’s so many similar numbers that my brain kept boggling. I’ll bet I added them up 15 times and kept getting different answers! I finally gave up and asked the accountants in my office to do it for me! Turns out, as I suspected, that the Foster City single family market is down 1.77% through this period. Pretty much what I had spoken of in that podcast I did…with less comps at that point. This number reflects the ratio between the asking prices and their closed prices, not a comparison to 2007. I’m looking forward to that comparison at the end of this year.

It’s worth mentioning that the market has opened up again. As of today there are 25 active listings and 17 pending sales. Significantly different than a few weeks ago when we had 32 active and 9 pending.

Anyway, I think it’s all pretty interesting stuff…I’ll be doing a chart for condos/townhouses too coming soon.

Comments

  1. Patrick Au-Yeung says:

    excellent chart, as always.

  2. You should list the square footage and $/sq. ft as well in this chart like you have in the house values site.

  3. Jim Minkey says:

    It’s a good point Michael, My assistant Lydia actually brought that up too. It’s just that I added that “original list price” column I thought we would run out of room on the page. I’m going to play with it some more and see if we can fit it in. Thanks.

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