Realtors And The Trickle-Down

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When Realtors get paid, it’s a trickle-down effect.  There are over a hundred other professionals who also get paid:  Pest inspectors, property inspectors, photographers, stagers, house cleaners, haulers, painters, window cleaners, title companies, disclosure companies, home owners associations, transaction coordinators, movers, sign companies, printers, landscapers,  locksmiths – that’s just off the top of my head.

So what’s the reality of the market?  The number of home sales is down – way down.  Meaning there are a lot of families struggling out there.  Title companies and real estate offices are closing multiple offices at a time – and no doubt that the other companies that service the industry are too.

Here’s the facts:

2000 2001 2002 2003 2004 2005 2006 2007 2008
Atherton 95 75 76 96 108 103 102 80 63
Belmont 255 205 329 343 321 306 261 219 170
Brisbane 32 25 31 31 36 40 27 22 16
Burlingame 303 255 284 293 312 276 266 213 179
Colma 3 3 11 8 9 8 3 3 9
Daly City 387 337 420 552 558 493 501 334 438
East Palo Alto 125 116 127 149 214 195 155 83 165
El Granada 85 60 92 80 83 81 59 53 39
Foster City 220 148 182 220 197 190 144 117 100
Half Moon Bay 155 113 190 165 191 156 121 97 83
Hillsborough 181 141 136 142 169 152 123 127 94
La Honda 20 12 16 18 27 19 15 10 11
Loma Mar 4 1 2 2 2 2 2 4 1
Menlo Park 400 368 464 503 504 455 377 410 300
Millbrae 158 129 194 191 182 186 139 131 114
Montara 35 29 54 52 49 34 25 42 18
Moss Beach 43 35 35 41 33 26 19 20 18
Pacifica 375 325 365 423 377 317 281 193 175
Pescadero 14 8 10 9 15 9 12 8 4
Portola Valley 91 56 63 74 87 91 59 73 53
Redwood City 741 581 716 764 781 718 575 507 491
Redwood Shores 114 73 126 117 124 123 86 88 69
San Bruno 309 256 330 374 320 347 274 163 228
San Carlos 392 340 394 430 419 357 296 296 258
San Gregorio 5 3 2 3 0 1
San Mateo 705 675 811 893 897 766 707 581 473
So San Francisco 348 325 418 417 464 397 342 220 258
Woodside 120 61 86 89 108 97 60 78 48
Summary 5715 4752 5965 6476 6589 5947 5031 4172 3876

Pacifica is a familiar market to me.  I grew up there and worked only that market until a few years ago when it became apparent that I needed to broaden my coverage area.  Although the number of sales only declined 9% between 2007 and 2008, the dramatic difference is looking at the height – 2003 with 423 houses sold – and then looking at 2008.  That’s a whopping 59% decline.

San Mateo is a similar picture:  19% decline between 2007 and 2008.  47% decline from the height of 897 houses sold in 2004 compared to the 473 in 2008.

As I’ve shown in several past statistical reports, Daly City is boucing back.  The deal-seekers have hit it hard – sales dropped to a low of 334 in 2007 to 438 in 2008; only 22% off from its 2004 high of 558.

Vicki Moore About Vicki Moore

Office:
RE/MAX Star Properties
282 Redwood Shores Parkway
Redwood Shores, CA 94065

By Phone:
650.888.9268

Comments

  1. Our Orange County market is so interesting right now. Sales in Orange County are significantly higher than in 2007 and 2008 and inventory is down. The strange thing is that most of the sales are in the lowest price points. That, compounded with the fact that the median sales price is down over 35%, profit margins are thin for professionals throughout the industry.

    The way you lay out the numbers for each city is great and really meaningful stuff.

    Love the layout of your blog Vicki!!

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