Single Family Inventory-December

Street Address List Price Orig List Price DOM Status Beds Baths Bldg SqFt Orig List Date
100 FLYING CLOUD IS 2100000 2275000 117 A 3 3 3382 8/6/2008
813 GRENADA LN 1948888   35 A 5 3 1/2 2780 10/27/2008
159 FLYING MIST IS 1880000 1980000 161 A 5 3 1/2 3691 6/23/2008
610 BAINBRIDGE ST 1499000   11 A 4 2 1/2 2790 11/20/2008
982 FLYING FISH ST 1488000   54 A 5 3 1/2 3000 10/8/2008
602 PORTSMOUTH LN 1450000 1498000 122 A 5 2 1/2 2540 8/1/2008
330 SAILFISH IS 1398800 1398800 48 A 4 2 1/2 2457 10/14/2008
710 SOMERSET LN 1338000 1439000 176 A 4 2 1/2 2700 6/8/2008
365 THATCHER LN 1338000   78 A 4 2 1/2 2550 9/14/2008
602 SOMERSET LN 1330000   59 A 3 2 2340 10/3/2008
602 CORNWALLIS LN 1299950   11 A 5 3 1/2 3130 11/20/2008
350 STAYSAIL CT 1299921 1399931 87 A 4 3 2250 9/5/2008
650 CAYMAN LN 1299000 1357000 63 A 3 2 1/2 2300 9/29/2008
116 GOLDHUNTER CT 1299000 1350000 29 A 5 3 1/2 2600 11/2/2008
711 TENDER LN 1249000   8 A 3 2 1/2 2300 11/23/2008
618 GREENWICH LN 1190000   15 A 3 2 1/2 1800 11/16/2008
201 SPINNAKER ST 1188888   50 A 5 3 2560 10/12/2008
112 BARKENTINE ST 1168000 1235000 116 A 4 3 2360 8/7/2008
127 FLYING MIST IS 1150000 1335000 199 P 3 2 1820 5/2/2008
1112 HALSEY BL 1150000   125 A 3 2 2030 7/29/2008
1194 ESSEX LN 1095000 1275000 140 P 3 2 1/2 1790 6/14/2008
811 LURLINE DR 1095000   15 P 4 2 1/2 2670 8/18/2008
701 RANGER CI 1058000   94 A 4 2 1/2 2190 8/29/2008
1290 RIBBON ST 1050800 1178800 104 A 5 2 2010 8/19/2008
411 PORT ROYAL AV 1025555 1095000 28 A 4 2 1950 11/3/2008
517 SAINT VINCENT LN 999000   47 A 3 3 1520 10/15/2008
198 BOOTHBAY AV 999000   11 A 3 1 1/2 1620 11/20/2008
1387 TARPON ST 969000 998000 52 A 4 2 1950 10/10/2008
1181 MARLIN AV 965000 995000 80 A 3 2 1890 9/12/2008
226 SANDPIPER CT 915000   38 A 5 2 1930 10/24/2008
300 BODEGA ST 899999 939888 48 A 3 2 1280 10/14/2008
1659 BEACH PARK BL 850000   4 P 4 2 1890 11/2/2008

 

 Well things have certainly changed, no doubt about that.  27 single family houses listed in Foster City with only 4 pending sales. The pending sales are highlighted in red type. Interestingly, there’s also been 11 houses come off the market either through cancelation, expiration or withdrawl since September.  19 out of 31 have experienced price reductions at some point during their listing lifespan. Also interesting is the fact that only one of the pending sales is on a listing priced over $1,100,000…while 19 listings are priced over $1.1mil. Average days on the market right now are 68 days. That’s not really long if your house is listed in most other parts of the country, but in Foster City and on the Peninsula that’s a really long time. As in most of the other Peninsula communities right now, the price range over $1,300,000 is really, really  slow. It hasn’t really started yet but I would expect some significant reductions in those prices in the future. 2009 is going to be very interesting and the first quarter in particular will be very important in determining where values will go.

To put things in perspective a little though, I’m showing a house in Half Moon Bay this afternoon that came on the market a year ago, in a great location, for $1,650,000. It’s come down in price several times and yesterday it reduced to $1,100,000. Foster City hasn’t experienced anything like that…so far.

Comments

  1. I’d love to hear your thoughts on 116 Goldhunter. I really love the location!

  2. I actually think that was a really great buy! That kind of wide water is uncommon and $1.2mil seems like a great deal to me. Did you buy it?

  3. No, I wish! I do like 117 Flying Mist though. Not sure if it’s still on the market.

  4. Jim Minkey says:

    I’m thinking maybe you mean 127 Flying Mist? The 3 bedroom wide waterfront? It’s still pending sale, it was a short sale so they’re usually a real challenge. Is that the house you mean?

  5. Hi, yes heard about this property too. Is it a good buy on a short sale-I think they were asking $1.1 or $1.15?

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