Foster City 2013 Statistics

Well I knew before I even started to look at this that the 2013 numbers were going to be amazing and I was still surprised. Last year I wrote a list of categories, total number of homes sold and the median prices of single family homes in FC with comparisons to previous years.  Here’s the list of DOM:

2006…144

2007…117

2008…99

2009…110

2010…122

2011…124

2012…128

In 2013 there were 106 closed sales.

That’s actually about what happened in Foster City in the darkest days after the crash. That’s all about the lack of inventory too! Tons of buyers and very little inventory. Since we’re looking at numbers another good one are the days on market figures. 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 2012 came back to 34 days. In 2013 the number was an incredible 20 days on market. What’s most remarkable to me was the fact that 2006 and 2007, along with 2010 and 2012 were pretty darn good markets. Lots of multiple offers. 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

Hold onto your hats because the average sales price on single family in Foster City in 2013 was $1,236,000. Astonishing. Here’s another remarkable fact. The inventory right now is WORSE than ever. At this rate we could end up with 60 sale this year. I’m only just kidding…kind of. I can’t imagine a scenario where prices won’t continue to go up this year…outside of some national crisis again. This is a wild time folks.

 

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