Reversion

Well, we’ve actually regressed. OK, the year is winding down and all that but as it’s gotten a little slower I would have expected that the level of inventory would have risen. Fat chance! This doesn’t bode particularly well for 2014 by the way. As of tonight there’s a whopping 4 active single family houses listed in Foster City. The lowest priced one is the place pictured above at 508 Gibraltar. It’s 3 bedroom, 2.5 bath house listed for $1,188,000. Offers are tomorrow. It’s almost unimaginable to me that we’ve gone so long now with such little inventory. Making it even weirder, there’s 5 condo/townhouses on the market. Huh?

Even with the market ebbs and flows there just doesn’t seem to be any way for values to flatten or fall if there’s this low amount of inventory consistently. If you’re a homeowner considering selling this is pretty good news for you. It’s not particularly great if you want to move up and stay here but it’s still better than buyers moving in here. It’s most likely going to continue to be competitive.

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