Foster City 2009 Statistics

stats

Seems like in the last few years it’s been a little tense when it comes time to look at the year to date numbers because my teeny little pea sized brain suggests that I’m sure to see a whole lot of bad news. Last year I did this same report…and it really wasn’t that bad! Well, certainly that could not have been the case for 2009…after all almost nothing sold in the entire first quarter. Right? How about we look at the actual numbers.

2008 FC Single Family DataPDF

2009 FC Single Family Home Sales

Just in case you don’t really want to wade through those actual numbers let me offer you the highlights:

In 2008 there were 95 single family homes sold in Foster City. In 2009 there were 100! In 2007…there were 100 too! Hmm…

In 2008 the average sale price of a single family home was $1,112,816, in 2009 it was $1,020,717. (-8.3%) Since the average sale price in 2007 was $1,157,960 it would appear to me that the total decline in the last two years has been about 11%. For what it’s worth, the 2007 number reflects the all time high in average sales price. That’s really pretty darn good in my mind versus the vast majority of the Bay Area…not to mention everywhere else!

One area where there was a clear change (just ask any realtor you know!!) was the average days on the market for a given listing. In 2007 it was 32, 49 in 2008 and 65 in 2009.

Bottom line here is the simple fact that we had 100 sales in what was certainly a down year bodes very well for sales in 2010. It seems unlikely to me that it will go down from there. My prediction is that it’ll be a normal year, many good deals will bring multiple offers and I’m suspecting we’ll have some price appreciation when all is said and done. Anyway, we’ll have to wait and see about that. Should be fun at least!

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