Foster City Condo Market Report: 03.15.10

It’s a Spring Real Estate Market and the number of listings in Foster City for condos and townhouseshas gone up to 56.  The average price is $569,064 and that’s been pretty level for the past couple of weeks. Condos and townhouses are selling in a shorter number of days and have always been a good way to enter Foster City’s schools at a reasonable price.  We’re looking at the median condo being 2 bedrooms and 2 baths, about 1350 square feet in size, and about  30 years old.  This median sized condo, at this price, is a bargain in comparison to some of the small houses in nearby communities.  Plus, Foster City’s elementary schools score high in all testing.

Foster City Condo Mkt Report 3.10

The many condo communities in Foster City offer some nice  amenities and differ in layouts.  Some communities look like townhouses, and some are multiple level.  Sand Harbor. Isle Cove and The Islands have many units facing the water.  Most all have pools, tennis courts, parks nearby and other amenities.  There are also true townhouse communities in Foster City.  These homes are more like row houses.  They own the land they’re on, they are larger then the condos, and have yards attached, either in the front or back, or for some, both.  Both kinds of homes are PUD’s (Planned Unit Developments) and have home owners dues.

Foster city condos median price 3.10The pricing trends had been relatively stable over the past couple of years.  The bottom of the condo market was the end of 2007 and start of 2008.  Prices have jumped up and down depending upon the number of condos available to buy at any one time.  Remember, you get a great value when you purchase a condo in Foster City.  Not only do you buy a home that was never converted from an apartment, but was actually constructed to be a condo, but you get a lot of square footage for your dollar.

Altos Research uses the Market Action Index to talk about how the housing market in a community is really doing.  The Market Index for the Foster City Condo Market from last week’s data and it shows that the market is still a Strong Buyer’s one. With many different condos to choose from, a buyer can negotiate for a fair price.  We aren’t now, and haven’t in the past, seen many short sales or bank owned condos either.  Most of these are what we are calling Regular Sales.

MAI - Foster city condos 3.10

What makes Foster City a great place to live is its location.  Sitting right in the middle of the San Francisco Peninsula it is almost the same number of miles to drive north to San Francisco as it is to drive south to San Jose.  The population in Foster City likes to play out doors.  The city boasts more parks per square foot then any other city on the Peninsula.  The Bayside Trail runs along the eastern shore of the city and always has bicyclists, walkers, roller bladers, and the like enjoying the bay views and air.  Tennis courts are sprinkled around town, many with lights for night playing.  The city has a vibrant Parks and Recreations Department that includes lessons in sailboarding, kayaking, sailing and rental the of kayaks, paddle boats, and sail boats.

We love to show people Foster City.  It is the first planned community built in California and affords perfect weather summer, fall, winter and spring.  Would you like more information?  Please let us know and we’re happy to provide it to you.

Here are some Condos and Townhouses currently for sale in Foster City.

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