Snapshot of the condo/townhouse market in San Carlos, CA

Snapshot of the condo/townhouse market San Carlos, California

My last post addressed the single-family home market in San Carlos California. Now we'll take a look at condos and townhouses in San Carlos, and how market activity in July 2010 compares with that in July 2009.

For condominiums and townhomes:

  1. Home inventory has increased substantially. There were 43 condos or townhomes for sale in July 2010; only 26 for sale in July 2009
  2. Number of closed sales is similar. 7 closed in 2010; 6 in 2009
  3. Average days on market dropped significantly: 56 days average in 2010; 93 days in 2009
  4. Average sales price dropped decisively: $544,714  in 2010; $604,083 in 2009 - an decreased of approximately 10%
  5. Percent of list price received: 99.01% in 2010; 95.94% in 2009 (Sellers are understanding the market and what is needed to sell a condo today.)

These figures were taken from data in our Multiple Listing Service. August statistics will be available soon and will be posted then.

--- Come for a visit; Stay for a lifetime!

Lottie Kendall, Realtor®

Compass

CA DRE#10215160; 650-465-4547

Lottie@LottieKendall.com

www.LottieKendall.com

Peninsula Living Business Page

www.SFCondosForMe.com

 

 

Comment balloon 6 commentsLottie Kendall • September 04 2010 11:40PM

Comments

Lottie,

...but where are the photos?!

Mike in Tucson

Posted by Mike Jones, Mike Jones NMLS 223495 (SUNSTREET MORTGAGE, LLC (BK-0907366, NMLS 145171) ) over 9 years ago

A mixed bag here, Lottie.  Realistic pricing but large inventory.  Let's hope the buyers get out there and take advantage.

Posted by Jane Peters, Los Angeles real estate concierge services (Home Jane Realty) over 9 years ago

Hello Lottie-Looks like some improvement which is always a positive. Great info. Have a great Labor Day weekend.

Posted by Sharon Lee, Retired and loving life (Sharon Lee's Virtual Assistance) over 9 years ago

Mike--Thanks for the wake up call; I need to put photos in these reports as well as other posts.

Posted by Lottie Kendall, Helping make your real estate dreams a reality (Compass) over 9 years ago

Jane, that's what we're finding in the condo/townhouse market--much larger inventory than typical, hence the lower prices.

Posted by Lottie Kendall, Helping make your real estate dreams a reality (Compass) over 9 years ago

Sharon - shorter days on market indicate we have buyers, which is a good thing. In general, our area is quite strong.

Posted by Lottie Kendall, Helping make your real estate dreams a reality (Compass) over 9 years ago

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