Open House Activity Picking Up

February 11th, 2008 by Marian Bennett
Categories: Market Activity

They came from the Frenchman’s Creek neighborhood, Fremont, San Francisco, Sonoma, even southern California…tired of waiting for the bottom to hit, or starting the spring house-hunting…and many checking out our coastside communities on one of our “10″ days on my subjective weather meter. Twenty-one groups came through my Open House in Frenchman’s Creek yesterday – the most in a long time! They were upbeat, full of good questions, and ready to find their next, or first, home. That number may not sound like a lot to my Palo Alto Coldwell Banker colleague, Arn Cenedella, who tells us about his 40-45 groups, but, hey, we’re excited! And to the north, similar activity is being reported by Sonoma County country property expert, Coldwell Banker colleague, Pam Buda.

Are buyers noticing inventory shrink compared to last Fall? Will we see a traditional spring spike in homes for sale now that we’re post-SuperBowl — even though we’ve still got 28% more inventory that a year ago at this time? Consequently, we are still in a Buyer’s Market with an 8 month inventory absorption rate for HMB and a 10 month absorbption rate for the entire Coastside (Half Moon Bay, El Granada, Moss Beach, and Montara). If you’re not working with a Realtor yet, now may be the time, as there are many “pocket listings” out there now…and some Coastside properties do not follow trends.

Here’s a look at available inventory over the last year in Half Moon Bay alone:

This entry was posted on Monday, February 11th, 2008 at 3:13 pm and is filed under Market Activity. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

Buyers are out in large numbers looking for property | Peninsula Real Estate Guru said at February 11th, 2008 at 7:40 pm
[...] a look at open house activity on the San Mateo Coastside, please go to Marian’s blog, Marian Bennett Half Moon Bay Coldwell Banker real estate agent. Marian reports many more buyers out looking at a new listing of hers than she has seen in many [...]
Bay Area Real Estate Buyers out in force as the sun shines | Wine Country And Horses said at February 16th, 2008 at 4:41 pm
[...] Marian Bennett in Coastal San Mateo county notes a similar trend in a recent post: ”They came from the Frenchman’s Creek neighborhood, Fremont, San Francisco, Sonoma, even southern California…tired of waiting for the bottom to hit, or starting the spring house-hunting…and many checking out our coastside communities on one of our “10″ days on my subjective weather meter.” Even in the rain two weeks ago, I had buyers come from all over the Bay Area to view a lovely Sebastopol country property I was holding open. [...]
North Georgia Property said at February 25th, 2008 at 1:19 pm
I think Open Houses will pick up this next month as people start getting outside more and wanting to know what prices they are getting for some of these foreclosed homes.
Alabama Mesothelioma Attorney, AL , asbestos exposure, AL Lawyers firm said at March 7th, 2009 at 3:34 am
[...] Open Home activity in Half Moon Bay on February 10, 2008 | Coastal Real … [...]