Coastside Life » Sold Properties

Sellers Now Have a Short Window of Opportunity

Kathy Rain — Sun, 31 Jan 2010 19:30:41 +0000

Super Bowl Sunday can’t come fast enough for the real estate market. Historically, this is when the floodgates open and sellers start putting their homes on the market. Good news for Buyers but not as good for Sellers. Read what is happening in the Bay Area below.

“What’s happening? First-time buyers are rushing to take advantage of the federal tax credit before it expires this spring. Unfortunately, we aren’t seeing a commensurate number of sellers bringing homes to the market to capitalize on this. There are inventory shortages throughout the Bay Area. Open homes are attracting a flood of serious buyers. The result is that attractive, well-priced homes in good neighborhoods are getting lots of interest and, in some cases, multiple offers.

Without as much competition for buyer’s attention, a well-maintained home could stand out like a redwood tree in a desert. This may not last for long as more homes come on the market in the weeks and months ahead (don’t forget the old adage that people start listing homes after the Super Bowl).

So by and large, it’s pretty much a conversation about inventory when you talk about our Bay Area real estate market. Even the luxury market, while admittedly slower than lower price points, has inventories trending down. Take San Francisco, for example, for homes over $2 million. The luxury market finished out December 2009 with a 6 months supply of inventory – compared to 10 months supply for the same period in 2008. You’ll find similar trends in the high end in many of our communities in Silicon Valley, Peninsula, Marin, and the East Bay. Accuracy in pricing and attention to detail in showing condition remains critical in the luxury markets, but sales activity is picking up and inventories are going down.” by Rick Turley, President, Coldwell Banker San Francisco Bay Area

Monday Morning Market Update November 9th Wk#45

Kathy Rain — Mon, 09 Nov 2009 21:36:26 +0000

This weekend the open houses were very well attended. Lots of new buyers looking to get in on the Tax Credit extention with an April 2010 deadline to enter into a purchase contract. Maybe we’ll see more buyer anxiety thou it is still looking like a buyers market in the Half Moon Bay communities. Pacifica short sales are getting multiple offers with homes listed in the $400,000 range.

Still a Buyers Market – HALF MOON BAY through MONTARA,CALIFORNIA with just under half of the listings listed at over 1 Million. The Million plus price range is finally seeing activity.

Active Listings-122 Single Family Homes. 53 listed over 1 Million, 25 listed under $600,000
Pending Sales-30 with 8 listed under $600,000 and 9 listed over $1,000,000.
109 Homes Closed since January 1, 2009 with only 18 that closed over $1,000,000 and 29 under $600,000

PACIFICA, CALIFORNIA
With YTD sales of 214 and active listing at 60, Pacifica continues to be a Seller’s market.

Active Listings-60 Single Family Homes. 11 listed at $900,000 or higher and 27 listed under $600,000.
Pending Sales-34 Single Family Homes with 13 listed under $500,000 and 4 over. 6 Properties went Sale Pending this week with listed prices from $430 to $718,000.
214 Closed Sales since January 1, 2009 with 9 that were listed for over $1,000,000. 82 sales were from homes listed at $500,000 or less. 5 new sales this week betweem $398,000 and $750,000.

ABSORPTION RATE
Absorption Rate is the number of months it takes to sell the current inventory at the present rate of sales.
6 months supply is a balanced market.
Less than 6 months supply is a Sellers market.
More than 6 months supply is a Buyers market

Monday Morning Market Update October 26, 2009 Wk#43

Kathy Rain — Mon, 26 Oct 2009 19:27:45 +0000

Still a Buyers Market – HALF MOON BAY through MONTARA,CALIFORNIA with just under half of the listings listed at over 1 Million. The Million plus price range is finally seeing activity.

Active Listings-121 Single Family Homes. 52 listed over 1 Million, 15 listed at $900,000 to 1 Million.
Pending Sales-36 with 14 listed under $700,000 and 10 listed over 1Million
99 Homes Closed since January 1, 2009 with only 16 that closed over $1,000,000 and 10 between $900,000 and 1 Million.

PACIFICA, CALIFORNIA
With YTD sales of 196 and active listing at 59, Pacifica continues to be a Seller’s market.

Active Listings-59 Single Family Homes. 11 listed at $900,000 or higher and 21 listed under $600,000.
Pending Sales-48 Single Family Homes with 30 listed under $600,000 and 1 over $900,000. 6 Properties went Sale Pending this week with under $700,000
196 Closed Sales since January 1, 2009 with 8 that were listed for over $900,000. 79 sales were from homes listed at $500,000 or less. 2 new sales this week.

Monday Morning Market Update October 19, 2009 Wk#42

Kathy Rain — Mon, 19 Oct 2009 18:30:14 +0000

Still a Buyers Market – HALF MOON BAY through MONTARA,CALIFORNIA with just under half of the listings listed at over 1 Million. The Million plus price range is finally seeing activity.

Active Listings-120 Single Family Homes. 52 listed over 1 Million, 15 listed at $900,000 to 1Million.Pending Sales-41 with 11 listed under $600,000 and 10 listed over 1Million
93 Homes Closed since January 1, 2009 with only 14 that closed over $1,000,000 and 10 between $900,000 and 1 Million.

PACIFICA, CALIFORNIA
With YTD sales of 191 and active listing at 56, Pacifica continues to be a Seller’s market.

Active Listings-56 Single Family Homes. 8 listed at $1,000,000 or higher and 17 listed under $600,000.
Pending Sales-52 Single Family Homes with 20 listed under $500,000 and 15 listed between $500,000 and $600,000. 8 Properties went Sale Pending this week with 3 listed under $500,000
191 Closed Sales since January 1, 2009 with 8 that were listed for over $900,000. 107 sales were from homes listed at $600,000 or less. 4 new sales this week.

Monday Morning Market Update July 13, 2009

Kathy Rain — Tue, 14 Jul 2009 00:19:49 +0000

Sellers Market with few Homes for Sale – PACIFICA, CALIFORNIA, San Mateo County

Statistic remain consistent another week With the current number of Active Listings divided by the average number of homes sold YTD, there is a little more than 1 month of inventory of Active listings.

Active Listings-45 Single Family Homes. 12 listed at $998,000 or higher and 18 listed under $600,000. 7 new listings this week with prices ranging from $449,000 to $849,000.

Pending Sales-59 Single Family Homes with 2 listed over $900,000 and 49 listed under $600,000.
1 Property went Sale Pending this week that was listed at $499,000. This is the slowest week for pendings since the begining of the year

115 Closed Sales since January 1, 2009 with 5 that were listed for over 1 Million. 79 sales were from homes listed at $600,000 or less.
7 Homes Closed this week with only one sale that was listed over 1 Million.

Still a Buyers Market – HALF MOON BAY through MONTARA, CALIFORNIA, San Mateo County

Active Listings continue to stay at the same level week over week. Still, around half of the listings are listed at over 1 Million and 15% at $600,000 or less. 8 of those 20 listings are located at Martins Beach which seems to be trying to get whatever sales they can before the land lease expires in the next couple of years.

Of the 6 new Pending Sales this week, 3 were listed at $999,000 plus. This is a big spike for pendings in the upper price range.

Year to Date Sales are most prevalant at $700,000 or less with 21 of 49 that have closed. The high end is showing 7 closing over 1 Million and 7 closing between $900,000 and $1 Million. The Market is still favoring Buyers.

Active Listings146 Single Family Homes
10 New Listings this week with 3 over 1 Million. Active listings continue to keep steady.

Pending Sales-27 Single Family Homes with 7 listed for over $999,000 and 12 under $600,000.
3 Properties went Sale Pending this week. List prices were varied once again this week for the third week in a row with no price range being dominant.

49 Homes Closed since January 1, 2009 with only 7 that closed over $1,000,000, 7 listed between $900,000-1 Million and 21 listed at $700,000 or less.
3 Homes Closed this week with list prices of $299,000, $899,000 and $999,000

69 Active Listings are listed at over $1,000,000.

Monday Morning Market Update-March 16, 2009

Kathy Rain — Mon, 16 Mar 2009 15:23:01 +0000

PACIFICA, CALIFORNIA

Active Listings-80 Single Family Homes
8 New Listing this week.
Pending Sales-36 Single Family Homes
4 Properties went Sale Pending this week.
29 Closed Sales since January 1, 2009
2 Homes Closed this week.
These 29 homes closed between $179,000 and $700,000

HALF MOON BAY through MONTARA, CALIFORNIA

Active Listings-150 Single Family Homes
7 New Listings this week.
Pending Sales-9 Single Family Homes
1 Property went Sale Pending this week
11 Closed Sales since January 1, 2009
1 Homes Closed this week.
These 11 homes closed between $155,000 and $999,999.

MONDAY MORNING MARKET UPDATE-WEEK ENDING MARCH 1, 2009

Kathy Rain — Mon, 02 Mar 2009 19:51:56 +0000

PACIFICA, CALIFORNIA

Active Listings-77 Single Family Homes
1 New Listing this week.
Pending Sales-28 Single Family Homes
2 Properties went Sale Pending this week.
25 Closed Sales since January 1, 2009
3 Homes Closed this week.
These 25 homes closed between $179,000 and $700,000

HALF MOON BAY through MONTARA, CALIFORNIA

Active Listings-144 Single Family Homes
5 New Listings this week.
Pending Sales-9 Single Family Homes
1 Property went Sale Pending this week
9 Closed Sales since January 1, 2009
2 Homes Closed this week.
These 9 homes closed between $155,000 and $820,000.