Most built-up areas of San Mateo County are suburban. It occupies most of the San Francisco Peninsula. A boost on home sales has been recorded in most areas of San Mateo County. But distinct declines have been observed in mid-Peninsula cities, such as Redwood Shores, Belmont, and Foster City.
Nine homes were sold in the Redwood Shores real estate market in September 2011. Sales went down by 25 percent, from 52 homes in September last year to 39 homes in September this year. This change that occurred is somewhat misleading. Sales in Redwood Shores started in a slow pace this year having only six homes sold within the first five months of the year while there were 33 homes sold within the same period of last year. There were 33 homes sold within the latest four months while during the same period last year, there were only 19 homes sold. To sum up, sales declined for this year but in recent months, sales have regained sharply.
Most inventory measures display a stiffening market. In 2011, new listings have declined by 13 percent - only 10 homes have been added to the active inventory at the end of September. Homes are being sold faster this year than in 2010. In Redwood Shores, the average selling period has been 26 days while in 2010, it was 44 days. This is indicative of buyers' quick response to properties coming onto the market. Another indication is that prospective buyers have to be on top of new listings or else, they will miss out on the best offers.
Price levels change around from month to month more often in smaller areas such as Redwood Shores, which has normally lower than 100 sales in a year. Therefore, determining the trend can be challenging. Average and median sales prices decreased by 5-10% for the year - about $50,000-$100,000, based on the data alone. This change occurred primarily because the average home sold in 2011 was around 150 square feet smaller than the average home sold last year. By 150 square feet, sales price can change by $75,000. There has been no movement in selling values from 2010 to 2011 when you look at price per square foot, which helps to control for the size of homes sold.
Foster City real estate sellers are heading on in getting pretty close to their asking price. In 2011, the average sale price divided by list price was 98%. This implies that homes were sold for 98% of the sellers' asking price. While this statistic doesn't take into account the price-reduced homes that were immediately sold, it is still considered applicable with the implication that homes do sell pretty close to their sellers' asking price. It is beneficial to have a well-informed Realtor that closely follows the local market trend because determining the right asking price can be tricky.
Sellers are heading on in getting pretty close to their asking price. In 2011, the average sale price divided by list price was 99%. This implies that homes were sold for 99% of the sellers' asking price. While this statistic is not perfect because it doesn't take into account the price-reduced homes that were immediately sold, it is still considered relevant with the implication that homes do sell pretty close to their sellers' asking price. Determining the right asking price can be tricky so it will be beneficial for sellers to have a well-informed Realtor that closely follows the local market trend.
As compared to Burlingame and Hillsborough, Redwood shores can better give parents the access to top quality public schools at a lower price point on a square footage basis. In the 2010 Academic Performance Index (API) test, all elementary and middle schools in the Belmont-Redwood Shores School District obtained good scores. API determines the academic proficiency of schools on different measures. The district obtained a higher average score of 904 - with no school scoring below 830 - compared to Burlingame School District which scored an average of 891. Out of 1000, the statewide average score is 768.
Raziel Ungar is a top-performing Real Estate Agent given numerous awards and distinctions for his outstanding success in the real estate industry. He has been recognized by the International President's Circle, placing him in the top 1% of Coldwell Banker Agents nationwide for 2010 and in the top 1% of San Mateo County Realtors. To search for Burlingame, Hillsborough, and San Mateo area real estate, visit http://www.BurlingameProperties.com -you'll find extensive helpful community, neighborhood, and school information! Plus, the well-known blog section has plenty of current information on the market and what's happening around town!
Article Source: http://EzineArticles.com/?expert=Raziel_Ungar
Tidak ada komentar:
Posting Komentar