Comparing Dec 2010 & Dec 2011 Sales

This is for the entire Half Moon Bay Coastside (Half Moon Bay, El Granada, Moss Beach and Montara) –

This quick comparison of sales activity shows that our market has not drastically changed from a year ago but we do see some changes.  Average Sales Prices have stayed fairly level; however we continue to see more sales in the lower half of our market ($300K to $700K price ranges), consistent with the higher price per square foot average, and low $1Million+ sales.  The other sign of continued softening is the difference between the last list price and the actual sold price.  This year that percentage has increased a little, showing that downward pressure continues.

That being said, sellers who take an aggressive approach by preparing their property, pricing appropriately, and market like crazy will sell.  Twenty one sellers succeeded in December alone this year and last.

A Year Ago  in December (2010):

  • Twenty-one (21) sales
  • Average sold price $665,788
  • Sold price was 11.05% off the (last) List Price
  • $322 per square foot
  • Three (3) properties sold over $1 Million

The Market Today – December 2011:

  • Twenty-one (21) sales
  • Average Sold Price $672,095
  • Sold price was 14.19% off (last) List Price
  • $357 per square foot
  • One (1) property sold for over $1 Million

Finally, a few tips for selling right now:

  1. “As Is” properties generally sell for less than top dollar.
  2. Staging works – if the other factors are in place.  Staging alone will not sell a house.
  3. The market will shift during the listing period and sellers need to be on top of those shifts to stay competitive.

Happy New Year!