Light At The End Of The Tunnel

tunnel

The more time goes by the more certain I am of this. There really is light at the end of this tunnel. The MLS has lots of great tools and one of them is the ability to run a daily, or even hourly, update of activity in a given area. Here’s some facts from this mornings update as it applies to Foster City, San Mateo, San Carlos, Redwood Shores, Belmont and Redwood City:

* 51 properties experienced some type of change in the last 24 hours

* 22 of them went pending (sold) during that time.

* 8 closed escrow.

* 4 were new listings.

* 8 experienced a price reduction.

* 3 had their deals fall apart and were put back on the market.

* 6 listings were canceled, expired or withdrawn from the market.

Not that I want to beat a dead horse or anything…but there were 22 sales in the last 24 hours. That was just yesterday. 22 sales.

It was particularly interesting to note that several of them were listings that had been on the market for a long time. 396, 259, 251, 238, 205 and 181 days respectively. I think that’s a good sign as well and I have no doubt that those buyers got good buys too.

In Foster City there are currently 39 pending sales in all classes. That’s a cumulative high for 2009 so far. Having said that, there’s still 37 single family active listings and 61 condo/townhouse actives today, but those are both down from the highs of a couple of months ago.

It’s going to be an interesting summer.

Comments

  1. Janette says:

    Great news! Thanks Jim.
    In my life, the light at the end of the tunnel has always been an oncoming train!

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