Foster City 2012 Statistics

Well, it sure seemed to me to be a very hot year here in FC and the most of the rest of the Peninsula as well. So how do the numbers looks? I have to say that the MLS has upgraded it’s ability to provide comparable analysis and it became clear to me that some of the numbers I used in previous years doing this have been wrong….so I’m going back all the way to 2006 in each category here to show the full picture of how Foster City’s real estate business has been. Let’s start with total number of transactions. These are just single family homes:

2006…144

2007…117

2008…99

2009…110

2010…122

2011…124

2012…128

Clearly there’s been an uphill trajectory when it comes to number of homes sold here since the downturn. Now how about average days on the market?

In 2006 it was 37 days, 2007 was 31 days, 2008 was 48 days, 2009 was 65 days, 2010 was 43 days, 2011 was 55 days and finally last year came back to 34 days. Obviously the market was a bunch warmer here last year. Now how about the actual numbers…the average sales prices:

2006…$1,078,000

2007…$1,113,000

2008…$1,118,000

2009…$1,010,000

2010…$1,004,000

2011…$976,000

2012…$1,021,000

Another interesting fact about the 2012 market was that the average sale price was actually higher than the average list price…and that was the first time since 2007 that we saw that happen. The truth is, outside of the presence of the short sales in this town bringing the average down somewhat, we could easily had the highest average sales price ever last year. Who knows what 2013 will bring. If inventory doesn’t improve these prices are sure to go higher.

 

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