SSF Real Estate… things are looking up
As 2008 wraps up and we all grasp onto our crystal balls to determine the fate of 2009… I wanted to end the year on a positive note with some statistics from the San Mateo County Multiple Listing Service that may help to give us all a positive outlook on the Real Estate market for 2009. South San Francisco was one of the Peninsula’s hardest hit cities with short sales and foreclosures, but by the looks of it, SSF seems to be bouncing back just fine.
South San Francisco’s First Quarter:
| New Listings | CurrentInventory | Closed Sales | Average Days on Market | Average Continuous Days on Market | Average Sales Price | Median Sales Price | % listing Price Received | Total sales volume |
| 131 | 136 | 35 | 83 | 106 | 626,107 | 600,000 | 96.47 | 21,913,750 |
South San Francisco’s Second Quarter:
| New Listings | CurrentInventory | Closed Sales | Average Days on Market | Average Continuous Days on Market | Average Sales Price | Median Sales Price | % listing Price Received | Total sales volume |
| 157 | 170 | 63 | 70 | 103 | 609,563 | 575,000 | 95.59 | 38,402,500 |
South San Francisco’s Third Quarter:
| New Listings | CurrentInventory | Closed Sales | Average Days on Market | Average Continuous Days on Market | Average Sales Price | Median Sales Price | % listing Price Received | Total sales volume |
| 148 | 163 | 79 | 61 | 72 | 606,457 | 580,000 | 97.69 | 47,910,168 |
Take a close look at the increase in closed sales, percentage of listing price received and total sales volume, while there is a steady decrease in Days on Market. While the average sales price has dropped since the first quarter it seems to have hit its threshold in the third quarter and on its way back up… although we don’t yet have the statistics for the end of the year, all signs point to even more increases in closed sales and decreases in days on market. These are all great signs of a distressed market rebounding and becoming once again a stable market with so many great opportunities for buyers.
These statistics aren’t just good news for buyers, its great news for all of you home owners. A stable market leads to appreciation, which leads to equity, which is why Real Estate in my opinion is the greatest investment you can ever make. I’ll let you make your own opinions, but i’m sticking to mine!
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5 Responses to “SSF Real Estate… things are looking up”
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very interesting stats, and thank you for sharing the information, it is somewhat apparent that in many areas of the Bay Area the bottom has hit, the bouncing back has started, and like most recovery markets, those in first reap the greatest reward.There are many experienced owners and investors who believe that we are in or entering the best buying market of this (eight year old) century.
Great stats. The third quarter clearly shows more sales, quicker sales (less days on the market) and more than double in sales volume compared to the first quarter; signs of a healthy recovery. I look forward to fabulous real estate market in 2009.
I have not looked at the stats that closely but being in the field you could feel it. That stats back up the “feel”.
Great Job Nicole,
I have noticed that you have used stats on a few of your posts, I love it. The stats are fact and tell you exactly what the market is doing. As Lee mentioned, I could feel the market coming up but the facts just back up what we are experiencing. Keep up the great work everyone.
Thanks for the stats on the SSF market. I’ve been feeling that same sense that things are looking up. With interest rates so low, it’s a great time for those looking to buy a home. Here’s to hoping for a definite turnaround in 2009!