Market Report – Foster City CA – Condos/Townhouses – 7.22.10

Foster City condos 7.22.10Last 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.  Right now, it’s taking about 2 months for a property to sell.  Only about 1/3 of these listings are seeing price reductions so they are generally being priced to market and that’s good.  These are generally great values and allow buyers to get into Foster City, one of the communities around here that has generally held value over the real estate roller coaster these past two years with great schools, loads of parks and outdoor activities around, plus an easy commute across the San Mateo-Hayward Bridge to the east bay or up or down 101 to San Francisco, South San Francisco, Palo Alto or San Jose.  Foster City sits in the middle of San Mateo County making it an easy commute almost anywhere.

Foster City condo median prices 7.22.10Looking at the price trends for Foster City condos and townhouses above, the chart shows prices have held over the past 18 months so it’s a great time to consider buying here.  The peak of the Condo/townhouse market in Foster city was in March/April of 2007.  The bottom, which most everyone missed, was January through March of 2008.  We’ve held steady every since.

Comparing Altos Research to Zillow’s home values estimates you can see some parallels.

Foster City Zillow Home Value Index

We live in, and know, Foster City’s market. If you’re interested in buying here give us a call or hit the contact button on the sidebar. Let us know what you’re interested in and we’ll help you find it. Take a look at what’s currently for sale in Foster City condos and townhouses today, below.

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