Coastside 30 Day Market Activity – 9.30.2010
With the start of the Half Moon Bay Coastside’s Fall selling season in full swing, I’ve been getting some questions about what the market looks like right now. Looking at the past 30 days of single family home closed sales, the “entry level” price points here on the Coastside were the most active. The average sale price was $545,462.
The highest sale price during the last 30 days was $840,000 for a home in El Granada. Market history shows there were 3 brokers used and 6 price reductions over a period of 4 years. The original list price was $1,150,000 in 2006. The market was telling us the property was overpriced for current conditions. This home had been on the market for 158 days with the last Broker.
The average days-on-market was 65 days. The fastest sale was 8 days-on-market for a home in Montara that was priced aggressively, presented beautifully, offered some unique qualities, and in a desirable location. That home sold for 2% over list price. A good example of sellers doing it right.
There were 13 closings between Aug 31 and Sept 30, 2010 – an average of about 3 closings per week…not bad, not great, given the current economy.
The average sales price was 95% of the list price in this period of time. Where did this activity take place?
- 2 in Montara
- 2 in downtown Half Moon Bay
- 2 in Highland Park (east side HMB)
- 2 in lower El Granada
- 1 in Miramar
- 2 in Seahaven
- 1 at Martin’s Beach
- 2 in Arleta Park
This is based on MLS statistics. It does not count non-MLS property transfers.