Now we’re really going to see what’s shaking. Suddenly we have some single family house inventory in Foster City. We haven’t seen this in a while. Today there’s 14 single family houses on the market. Eight of them have come on in the last 6 days. This’ll be fun to watch. Interestingly, 10 of the 14 are over $1,000,000. The lowest priced house is an attached 2 bedroom place at Williams Landing and it’s listed for $829,000.
The real question now is, how much diminishment of the frenzy will occur with this influx of new inventory? Will houses just get one or two offers? Will folks wait for even more inventory? Who knows, but we’ll see. This phenomenon hasn’t really happened in our neighboring communities yet, in fact in Redwood Shores there’s still only 3 active single family houses and in San Carlos there’s 8. Why Foster City then? Who knows. What I do know is that following the market’s reception of this will be very interesting.