Sitting smack dab in the middle of the Peninsula, Foster City is a commuters paradise whether one goes towards San Francisco or San Jose or across the bridge towards Pleasanton. All are equal distance from Foster City and that makes it a great place to live. It is a planned community offers choices of living from apartments to large homes. Sitting right at the bay, there are waterways meandering all over the city and homes, townhouses, condos and apartments sharing waterfront views.
Foster City was the first planned community in California and what makes it so like-able is the variety of housing choices offered. If you’re in the market to buy a home you can choose from a condo, a townhouse or a single family house with a wide choice of prices. Any one of them might sit along one of the waterways running throughout the city, near a park, or near the trails that run at the perimeter of the city. Throw in top schools and one can see why people want to live in Foster City, the mid-point of the San Francisco Peninsula.
Foster City, like the other local communities we write about, doesn’t have a lot of housing for sale. Therefore, the rule of supply and demand takes over and prices stay high, and are going higher. Foster City is a planned community with both single family houses and condos and townhouses for sale. We will see the data for both since the beginning of the year. What makes Foster City so compelling for families is the excellent schools, plethora of parks and trails, and access to water for boating, sailing or sailboarding.
Here’s the market snapshot for Foster City, CA. Comparing to the other communities around here it’s doing okay with low inventory and prices holding upwards. This is a perfect example of all real estate is local, local, local and then hyper-local. The average price for a home in Foster City is $1,002,584. The average price for a condo or townhouse in Foster City is $544,528.
It’s a Buyer’s Market and there are a lot of great properties for sale. In fact, as the year winds to an end, each one of these houses is truly on sale. People listing homes this time of the year want to sell and are willing to negotiate. Negotiation is the key word today. What the asking price is, isn’t generally what the selling price is.
Last week Foster City had 43 condos and townhouses for sale with an average list price of $575,946. These listings, had a median size of 2 bedrooms and 3.5 baths according to Altos Research our research company. Frankly I find that interesting since almost all condos have 2 baths and townhouses have 2.5 baths.
Foster City is a great family community with parks everywhere, a lake in the center of the town, the Park and Recreation buildings feature the only teen center in any of our communities around here.
Over all Foster City is the healthiest market in our area. Prices are up and we’re seeing that there were 2 months where prices exceeded the list price. This is something we haven’t seen in several years. Foster City sits in a perfect location for commutes to bio-tech or hi-tech, east bay or the City.
What matters is how the market is today and Foster City has moved upwards and is now a Warm Buyer’s Market and moving towards an equal market for buyers and sellers. This is GREAT NEWS! The Market Action Index places Foster City at 25. That line sitting at 30 is the divide between a Buyer’s Market and a Seller’s Market. We haven’t seen this in well over a year. What it means to the seller is the market is stabilizing.
Last week Foster City has 68 condos or townhouses for sale. Wowza! And, the number is increasing. Good for the buyer, bad for the seller. Pricing is flat, good for the seller and bad for the buyer and the average number of days it’s taking to sell is going down, again good for the seller. …Read More »
Equal Housing Opportunity. Equal Opportunity Employer. · 
