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 |
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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