April 2011 Market Report: Foster City CA

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.

We’ll start first with the single family homes for sale and see a median price of just under $1 million dollars making it a rather expensive place to settle in but with the opportunity to buy a townhouse, often larger in square footage than the smaller homes, Foster City becomes much more affordable.  The chart below is showing the Foster City real estate market for last week and it’s showing a trend of pricing moving downward for the week.  Since prices, houses and influences change weekly one week it might trend down and the next up or flat.

Foster City single family homes

Let’s compare the Condo and Townhouse market of last week.  Most of Foster City has PUDs (Planned Unit Developments) and these are houses, townhouses, and condos and they come with homeowners associations, and monthly fees.  Almost all of these PUDs have pools, club houses, and some have tennis courts, too.

The median price for the Condo and Townhouses for sale last week was half a million bucks, about half of the price for a house and price per square foot isn’t a huge difference.  Go figure?

Condo & Townhouse snapshot

Here’s what’s been going on during the first 4 months of 2011 from the MLS data.  The market has heated up with more listings and more sales.  Interest rates are historically low and one can buy in Foster City with a conforming loan and 20% down.  That’s helping to make home ownership a possibility for so many people today.

Foster City MLS stats

Sitting in the middle of the Peninsula with outstanding schools and an easy commute south to Silicon Valley or north to San Francisco, people love  living on the water, enjoying the outdoors and many sports activities available in Foster City.  Here’s some of what’s for sale right now.  If you’d like to see something in person, call or email us and we’ll be happy to assist  you.

[idx-listings city=”Foster City” propertytypes=”609″ orderby=”DateAdded” orderdir=”DESC” count=”30″]

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