Market condition in Bay Area – 03/19/2009

Market condition in Bay Area – 03/19/2009

This mainly keeps track of the entry level SFR in selected cities

Inventory: min. 3 bedroom / 1 bath with 1000 sq ft and above

  max. price Active Pending Inventory Level
(months)
Belmont < $1,000,000

25

15

7.50

Burlingame < $1,250,000

16

5

12.00

Campbell < $750,000

28

17

5.25

Daly City < $550,000

46

56

4.06

East Palo Alto < $360,000

46

33

9.86

Foster City < $1,000,000

11

1

11.00

Los Gatos < $1,000,000

32

9

12.00

Millbrae < $1,150,000

57

60

6.11

Milpitas < $550,000

21

2

10.50

Mountain View < $900,000

34

12

34.00

Pacifica < $580,000

28

24

6.46

Palo Alto < $1,200,000

12

10

5.14

Redwood City < $600,000

21

13

7.00

Redwood Shores < $1,150,000

8

3

8.00

San Carlos < $1,200,000

41

13

8.79

San Mateo < $700,000

28

31

9.33

San Jose < $400,000

690

582

8.81

Santa Clara < $650,000

79

46

9.12

South San Francisco < $600,000

35

32

4.77

Sunnyvale < $750,000

62

44

7.15

There is an increase in listings and the inventory level is up in Burlingame, Foster City, Mountain View, San Carlos.  The nicer areas in the Bay Area are feeling the ripple effect from the poor economy.  I guess some people making good money in those area got laid off and they are in a rush to sell their houses and that’s why there is a jump in the listings in the areas.

To check out the latest Bank Owned Properties / REO in the area, go to 
www.Peninsula-REO.com

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