Market Watch for San Francisco Peninsula

 

SF Peninsula There seems to be a slight slowdown in sales and listings taken due to the holidays. According to our Burlingame North Coldwell Banker manager, there were 112 Single Family Residence sales during this time period in 2015 compared to 103 sales in the same time period in 2014. The Median Sales Price of Single Family Residences was $1,350,000 compared to $975,000 during the same time period in 2014. There were 48 Condominium/Townhouse sales during this time period compared to 47 sales in the same time period in 2014. The Median Sales Price of Condominium/Townhouses was $725,000 compared to $681,000 during the same time period in 2014. Across the hill in Half Moon Bay, inventory continues to be decreasing.  Open homes are very active.  There are fewer multiple offers on listings. Open houses have been amazingly well attended in the Menlo Park area with “real buyers” according to the agents.  Sales are harder to come by but some agents are exceedingly busy.  There is lots of new construction coming on the market – old houses are coming down very fast in Menlo Park. They disappear overnight! Inventory is decreasing in the Palo Alto area, while demand remains strong. Our Redwood City-San Carlos manager says it’s an extremely slow time right now with a continued lack of inventory. Only if a property is priced right on, shows very well, and is in a perfect location does it now sell quickly. In San Mateo, the market is slowing down. The holiday season has begun. The quiet Holiday Market is upon us in the Woodside and Portola Valley area, but our manager says she expects good things are coming in the New Year.

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