Well, I predicted, and not that long ago, that we would see a townhouse in Foster City close escrow at or over $1,000,000. It’s June 18…and it happened today. Now I’m not talking about Promontory Point where that’s happened before…I’m talking about the other projects in town. Projects that were hard to sell just a few years ago.
Today we witnessed the closing of 1028 Gull at Bay Vista. Pictured above. It was listed for $949,000 and closed at $,1,035,000. It’s a 4 bedroom, 2.5 bath townhouse in 1757 sq ft. The dues at Bay Vista are $235 a month. To me that’s obviously a contributing factor. This unit previously sold in 2001 for $482,000. Not bad , huh? Now the question becomes…when will smaller 3 bedroom units go over a million? How does that effect waterfront units at Isle Cove or Harborside?
Remember…the market has slowed down a little. Still, we have this happen. What an amazing place this is!