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Brendan Aiello

Labor Day Peninsula Real Estate Stats!

First off, HAPPY LABOR DAY! These stats are coming from beautiful South Lake Tahoe, CA (stay tuned for Lake Tahoe Weekend Getaway Writeups Coming Soon). Anywho, time for the local real estate market analysis!

The promising trend is the increased number of homes in the pending status continues! In 2006 there were 136, 2007 there were 96, last year at this time 130 and as of this morning there are 212. Now we can speculate a portion of the increase of homes in the pending status to homes being in escrow for a longer period of time primarily due to lender issues, either waiting for a short sale approval for the seller or some new last, minute requirement from the buyer’s lender. But I truly believe that the increase is primarily being driven by improved market conditions, with the greatest amount of multiple offers and overbiding occurring in the price ranges of entry level homes in these communities. Additionally there has been an increase in number of pending sales of the more expensive homes. If this is true, look for reports on the rise of median prices as a result (they will be posted here in our Monday Market Reports, when we can verify that this is true)

Enjoy the stats!

Stats From: September 6th, 2009 6:00AM

City

ACTIVE

High (List Price)

 

Median (List Price)

 

Low (List Price)

             
Belmont

43

$1,550,000

 

$949,888

 

$559,000

Burlingame

74

$3,395,000

 

$1,349,000

 

$514,900

Foster City

20

$1,550,000

 

$1,186,500

 

$849,000

Hillsborough

74

$12,999,000

 

$2,993,000

 

$889,900

Redwood Shores

18

$1,458,000

 

$1,095,000

 

$790,000

San Mateo

113

$2,595,000

 

$899,000

 

$376,200

 

 

         
Total

342

         
             
             
City

PENDING

High (List Price)

 

Median (List Price)

 

Low (List Price)

             
Belmont

28

$1,299,000

 

$785,000

 

$549,000

Burlingame

27

$2,795,000

 

$1,199,000

 

$558,000

Foster City

10

$1,095,000

 

$949,500

 

$798,000

Hillsborough

22

$6,988,000

 

$2,812,000

 

$1,499,000

Redwood Shores

7

$1,299,921

 

$1,049,000

 

$769,000

San Mateo

118

$1,900,000

 

$599,700

 

$375,000

             
Total

212

         
             
             
City (M.T.D C.O.E.)

SOLD

High (Sales Price)

 

Median (Sales Price)

 

Low (Sales Price)

 

 

         
Belmont

16

$1,340,000

 

$837,500

 

$575,000

Burlingame

16

$2,332,000

 

$1,127,500

 

$745,000

Foster City

17

$1,450,000

 

$1,000,000

 

$800,000

Hillsborough

6

$4,200,000

 

$2,425,000

 

$1,425,000

Redwood Shores

5

$980,000

 

$808,000

 

$680,000

San Mateo

48

$1,790,000

 

$771,500

 

$380,000

 

 

         
Total

108

         

The Aiello's Peninsula Real Estate Market Chart

 

 

 

 

 

 

 

 

 

Please remember to read our webpage disclaimer, that statistics and all other information on this webpage/blog is deemed reliable, but not independently verified or guaranteed.

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