Arleta Park Market Update

March 2nd, 2008 by Marian Bennett
Categories: Market Activity, Neighborhoods

Half Moon Bay overall inventory trend (for residential single family homes):

What this graph shows is that inventory for single family homes in Half Moon Bay is higher than a year ago, the inventory “peak” within the last year was last November 2007. Inventory frequently drops toward the end of the year, but the latter part of 2007 was adjusting to the credit crisis and a correcting market – which we’re still doing… Price adjustments are more common than a few years ago as sellers and agents work to price their homes “at market”.

FOR SALE in Arleta Park as of today, Sunday, March 2, 2008:

7 single family homes
1 townhouse
22 residential lots
1 commercial industrial (2 level acres with warehouse, etc.)

From my 2008 State of the Coastside Report: **

**Half Moon Bay 2007 Median Price Home Sale – $957,000

Arleta Park neighborhood 2007 Median Price Home Sale – $832,500

**Half Moon Bay 2007 Average Price Home Sale – $1,127,763

Arleta Park neighborhood 2007 Average Price Home Sale – $993,392

Contact me to receive a copy of the entire 8 page report covering Half Moon Bay, El Granada, Moss Beach and Montara by community.

Coastside real estate is very “location specific”. Trends can be information but they are not the whole picture if you are ACTIVELY in the market. In our office alone, 2 homes sold within hours of being listed last week. Part of that may be heading into the spring buying time and/or the seller had the golden triangle (my phrase) of Location, Price, and Presentation.

This entry was posted on Sunday, March 2nd, 2008 at 11:41 am and is filed under Market Activity, Neighborhoods. 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.

Pam Buda said at March 4th, 2008 at 5:00 pm
That is so true Marian, I find the stats to be interesting and a way to reality check my gut instincts as a realtor in my local market of Sonoma County. That said, over the last 15 months, nearly half my client’s deals have involved multiple offers which we fortunately succeeded on. The latest purchase is a home in Sebastopol that we wrote and offer on the first day on market, and there is a ratified backup offer. So you really need a laser beam focus to find the right property at the right price. A property can be an equally good “bargain” at DOM of 1 (one day on market) as something that was overpriced, tired and languishing. Sometimes the perception of the deal and reality of the deal are not the same.
Sonoma County Real Estate Market update and Local Knowledge | Wine Country And Horses said at March 4th, 2008 at 7:40 pm
[...] the market for real estate, or are planning to sell a property for that matter. As my colleague in coastal San Mateo county, Marian Bennett said recently, “Coastside real estate is very “location specific”. Trends can be [...]