Monday Real Estate Market Statistics and Graph

Stats From: September 13th, 2009 6:00AM

City	ACTIVE	High (List Price)		Median (List Price)		Low (List Price)
Belmont	47	$1,550,000		$949,500		$559,000
Burlingame	69	$3,395,000		$1,375,000		$514,900
Foster City	21	$1,550,000		$1,178,000		$849,000
Hillsborough	75	$12,999,000		$2,988,000		$889,900
Redwood Shores	19	$1,458,000		$1,095,000		$790,000
San Mateo	120	$2,495,000		$892,000		$388,888
Total	351
City	PENDING	High (List Price)		Median (List Price)		Low (List Price)
Belmont	25	$1,299,000		$775,000		$549,000
Burlingame	28	$2,795,000		$1,125,000		$558,000
Foster City	8	$1,299,000		$974,000		$798,000
Hillsborough	22	$6,988,000		$2,787,500		$1,499,000
Redwood Shores	7	$1,299,921		$875,000		$769,000
San Mateo	115	$2,495,000		$599,900		$375,000
Total	205
City (M.T.D C.O.E.)	SOLD	High (Sales Price)		Median (Sales Price)		Low (Sales Price)
Belmont	7	$1,110,000		$808,000		$650,000
Burlingame	8	$2,795,000		$1,125,000		$558,000
Foster City	5	$1,105,000		$940,000		$810,000
Hillsborough	4	$3,125,000		$2,062,500		$1,250,000
Redwood Shores	1	$1,250,000		$1,250,000		$1,250,000
San Mateo	15	$1,110,000		$720,000		$400,000
Total	40

 

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.

Sawyer Camp Trail in San Mateo County

 

 

Hey Folks,

Recently doctor’s orders required me to start exercising more. Although, I live in a beautiful neighborhood (San Mateo Park) to can walk/run/bike in, I wanted the ability to better track how far I am running, walking and bicycling. I also wanted a change of scenery.

I decided to give Sawyer Camp Trail a try, as I hadn’t been there in over 15 years. For convienence, I start at the entrance in San Mateo on at the top of Cystal Springs Road.

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Hillsborough Garden Tour

Hello,

So we usually don’t post on Wednesdays (normally we post Mondays and Fridays), but I forgot to promote a very cool event that will be taking place this weekend. On Saturday, September 12th 2009 from 10am-4pm PST the Hillsborough Garden Tour will be taking place in Hillsborough, CA. This event is a self-guided tour of 5 Hillsborough Private Residences with spectacular gardens. This event is hosted by The San Mateo Arboretum.

Tickets Can Be Purchased at the Following Locations (Adults $35 now, Adults $40 the day of the event, Childen under 14 are free):

San Mateo: Ah Sam Florist, Central Garden Center, Golden Nursery and Wisnom Hardware

Belmont: Carlmont Nursery

Burlingame: The Green Fashion

Redwood City: Wegman´s Nursery

The garden tour also includes a plant sale, craft boutique, art displays and a raffle drawing for a contemporary fountain and other prizes.

Team Tapper will be providing full coverage of this event, so check back for reviews, photos, tour property addresses, vendor lists, and maybe even some video.

UPDATE: I was not able to go to this years Hillsborough Garden Tour because of less than perfect weather and a fly that swept my household. My appologies – next year.

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!

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What Do The Different Real Estate Statuses Mean?

Hello Everyone,

We recently received a question regarding a certain status on a listing in the area so we figured that we would explain what each status means and what it means to you (the buyer and seller).

ACTIVE - Means “Buy Me” or “I’m for sale”, “please make an offer!” An active listing could be a new listing, or it could have sat on the market for 30 days or more. Or, it could be a re-list where the home was listed before at a higher price, or listed with another agent. It could have also been listed and expired. Please note: Make sure you work with an experienced agent who knows the area where you are looking.

PENDING - means the property has sold and there are no contingencies and is waiting to close escrow.

PENDING W/ RELEASE - means the buyer has agreed to purchase the home subject to selling their own home, or another contingency that allows other buyers to make an offer on the home. If the seller receives another offer, the buyers in contract usually have 72 hours to determine if they would like to move forward with the purchase and remove their contingencies, or bow out and do a release of contract.

PENDING W/ OUT RELEASE - means the buyer and seller have agreed to terms and the buyer has a set time frame to do their inspections and or get their loan approved. Other buyers cannot make an offer and push the buyer out of first position, but they may make a back up offer. Please note: If a buyer really likes a home that is Pending, they should have their agent contact the listing agent to see if they can write a back up offer. If the seller agrees, the buyer would go into first position without the home going back on the open market. The seller does have the right to renegotiate the terms and conditions unless specified in the contract.

EXPIRED - means the property did not sell within the time frame set in the listing agreement. Please note: When a home expires, it is almost always because the home was over priced. Many sellers who have had their properties expire believe it was the fault of the listing agent, not the price.

WITHDRAWN - means the property was taken off the active market (the MLS) but the listing agent still has a valid contract. Please note: Sometimes sellers decide to remodel or do some clean up and painting before re-listing their home and putting it back on the open market.

CANCELED - means the seller and listing agent have agreed to terminate their relationship.

SOLD - means that property has closed escrow and transfered ownership. This is often music to a buyer’s ears, the house this finally theirs! For more information, on the transfer of ownership read this post.