As Different As Night & Day

day_night

As I was contemplating the inventory in Foster City the other day it sort of struck me how many new listings there have been in the past few weeks. To me, at least, this seems sort of unusual since December traditionally is a much slower month in this business. I know that I personally have encouraged my clients to wait until January to list. My experience has been that folks sort of go into hibernation mode at this time of year and home shopping sort of takes the back burner to all the rest of the family stuff and other types of shopping that happens now.

What do I know! No less than 9 homes have come on the market in the last 10 days and a couple of them are worth mentioning…even if it’s only to judge just how asleep the market is right now. Both of them are tremendously good values.

1297 Swordfish listed by Laura Bertolacci of Re/Max Today for $776,000. This 3 bedroom house is actually in pretty good shape considering this price. It does have a pretty large foundation problem  but it’s priced accordingly. It should sell quickly.

851 Canis Ln listed by Peggy Ledoux of Cashin Company for $599,000. This 3 bedroom townhouse is an absolute steal! It’s gorgeously remodeled and it’s priced very competitively. I’ll be shocked if it makes it through the week.

Like I say, these two will tell us just how sleepy this market is. Having said all that…I thought it might be interesting to see how it compared to December of 2008. It really is a night and day difference! A year ago there were 27 single family homes listed and only 4 pending sales. Only 1 pending was listed at $1,100,000 or more. Today there are 19 active listings and 15 pending sales! On top of that, 8 of them were listed at $1,100,000 or more. On top of all that, in December 2008 there was a ton of fear. That has abated considerably from last year.

As for condos/townhouses, last year there was 40 active listings and 5 pending sales. Today there are 34 active listings and 18 pending sales. Just think what it would be like if those new listings hadn’t appeared in the last 10 days! It’s safe to say that at least two of them won’t be around by the end of the month. There really is a huge difference, across the board,  year to date.

Comments

  1. 851 Canis Ln is 2br 1100 sq ft townhouse.

  2. Sorry Eugene…but it’s a 3 and 2. It sold last nigh too> Here’s the MLS printout info:

    851 CANIS LN, Foster City 94404 (Foster City)
    $599,000 Beds: 3 bed(s) Baths: 2|1 bath(s)

  3. Sorry, I made a mistake (redfin made it too). It looks like it’s 3br.
    So, it’s even better. For this price 2 years ago you could barely buy a 2br condo in Foster City.

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