Has The Real Estate Market Hit Bottom Yet?
Currently, this is the most common question Realtors hear today. “Have we hit the bottom yet?” No, but we are very close. This blog post is being posted to annouce our new Monday Market Analysis. I will post a chart of all currently Active, Pending, and Sold listings in Belmont, Burlingame, Foster City, Hillsborough, Redwood Shores, and San Mateo. All the information will be taken from similar weeks from four years past (Seasonal Smoothing) to try to limit seasonality distorting the numbers and put into a graph.
| City |
ACTIVE |
High (List Price) |
|
Median (List Price) |
|
Low (List Price) |
|
|
||||||
| Belmont |
50 |
$1,895,000 |
$985,000 |
$649,000 |
||
| Burlingame |
59 |
$2,650,000 |
$1,299,000 |
$595,000 |
||
| Foster City |
40 |
$1,699,000 |
$1,084,000 |
$790,550 |
||
| Hillsborough |
51 |
$18,000,000 |
$3,988,000 |
$1,890,000 |
||
| Redwood Shores |
18 |
$1,448,441 |
$1,086,500 |
$749,950 |
||
| San Mateo |
147 |
$3,100,000 |
$925,000 |
$348,888 |
||
|
|
||||||
| Total |
365 |
|||||
|
|
||||||
|
|
||||||
| City |
PENDING |
High (List Price) |
|
Median (List Price) |
|
Low (List Price) |
|
|
||||||
| Belmont |
21 |
$1,099,000 |
$750,000 |
$559,000 |
||
| Burlingame |
17 |
$3,298,000 |
$999,950 |
$614,900 |
||
| Foster City |
4 |
$1,150,000 |
$988,500 |
$849000 |
||
| Hillsborough |
8 |
$3,480,000 |
$2,842,500 |
$1,775,000 |
||
| Redwood Shores |
2 |
$1,235,000 |
$1,117,499 |
$999,999 |
||
| San Mateo |
61 |
$2,195,000 |
$589,900 |
$379,000 |
||
|
|
||||||
| Total |
113 |
|||||
|
|
||||||
|
|
||||||
| City (M.T.D. C.O.E.) |
SOLD |
High (List Price) |
|
Median (List Price) |
|
Low (List Price) |
|
|
||||||
| Belmont |
10 |
$1,161,000 |
(-) |
$926,000 |
(-) |
$665,000 |
| Burlingame |
6 |
$1,450,000 |
(-) |
$1,025,000 |
(-) |
$686,500 |
| Foster City |
2 |
$960,000 |
(-) |
$920,000 |
(-) |
$880,000 |
| Hillsborough |
2 |
$5,300,000 |
(-) |
$4,420,000 |
(-) |
$3,540,000 |
| Redwood Shores |
2 |
$1,050,000 |
(=) |
$955,000 |
(-) |
$860,000 |
| San Mateo |
19 |
$1,505,000 |
(+) |
$725,000 |
(-) |
$399,000 |
|
|
||||||
| Total |
41 |
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[...] Original post by TeamTapper.com [...]
[...] [...]
Hi Brendan,
That is a question that gets thrown around a lot and unfortunately I don’t think we are even close to the bottom yet. Some “experts” are predicting mid to late 2010, but who knows, there are always ups and downs, even now during this recession.
The Monday Market Analysis is an excellent idea and I may have to implement something similar for a few of our clients. Hey, keep up the great work.