Coastal Real Estate and Lifestyles

There were 9 transactions in Nov 2009 - the month with the most transactions during this period.

There were 7 transactions in Nov 2008.

The month with the lowest # of transactions was Dec 2008 (1).  Dec 08 and Jan 08 were REALLY slow.  I’ll share what this year looked like soon.

The month with the highest median sale price was December 2008 - $1,150,000.  Well, it was just one sale!  The month with the lowest median sale price was January 2009 - $432,000 (3 sales).  Not a lot to go on, but this is what it was.

The median price for listed properties is down 6% - from $1,084,000 to $1,017,000.

The median price of sold properties is down 32% - from $1,025,000 to $699,000.

The number of properties going into contract is trending up over the last 12 months –

• 0 in November 08
• 5 in December 08
• 2 in January 09
• 2 in February 09
• 5 in March 09
• 7 in April 09
• 5 in May 09
• 5 in June 09
• 8 in July 09
• 9 in August 09
• 9 in September 09
• 9 in October 09
• 8 in November 09

The number of NEW PROPERTIES LISTED by month trended up until July 2009 and then began trending down.  The month with the largest inventory was July 09.  Eight new listings came on the market 11/09 compared to 2 new listings on the market in 11/08.

Months Supply of Inventory peaked in the first quarter of 2009 with about 41 months of inventory!  Tons of inventory but not a lot of buying going on (why?  financial meltdown).  It’s been trending down ever since with November 2009 at 7 months.  This is still not a balanced market, which for our area is more in the 4-5 month range, but definitely improving!  Also, Half Moon Bay sales prices from November 2008 to November 2009 were down about 35% - that is for all price points/neighborhoods and single family homes only (not including lots, condo/townhouses or multi-family properties).

Annual and other stat reports to come, this is just to give you an idea of the kind of numbers we’re talking about in Half Moon Bay over “roughly” the last year (11/08-11/09).  As you will see from my past stat posts if you read them, I will discuss specific towns, or the Coastside as a whole, or compare it to other areas or time periods.  To look for Statistic posts specifically, go to the Quick Search button on the right sidebar and put in “stats or statistics”.  Or if you want the full 21 page report from which these numbers were generated (the San Mateo County Multiple Listing Service - MLS - MarketMetrics), just email me at mb@mariansbennett.com.

Hope you enjoy the mocha, my favorite drink :)  Happy New Year.