Foster City Real Estate Market Review


The Foster City real estate market has remained steady and strong even during what is being called the worst market since 1979.  For those who live there, I’m sure it’s no surprise.  That strength may be a little disappointing for all those relocating “bio-techers.”  Home buyers relocating from out of state are in a state, all right – a state of shock. 

What’s keeping those prices rising above many others in San Mateo County?  Its water-centric design makes it really unique and, of course, beautiful.  The schools are top-notch adding to the housing demand.  It’s a planned community with plenty of parks and shopping- it’s got just the right number of everything.  Lastly, location, location, location.  Foster City is a hotbed of biotech jobs – home to Gilead -and is a convenient commute to reach South San Francisco, the birthplace of biotech.

Take a look at what prices have done 1998 through 2007:

  Closed Sales Average Days to Sell Average Sales Price Median Sales Price %  of List Price Received
 1998 179 33 548,839 550,000 99.16
 1999 221 36 590,118 575,000 99.45
 2000 220 26 758,776 735,000 103.17
 2001 148 47 739,507 710,500 98.33
 2002 182 40 771,786 757,500 99.02
 2003 220 34 794,704 766,000 98.50
 2004 197 21 910,084 888,000 101.56
 2005 190 20 1,071,442 1,050,000 102.49
 2006 144 36 1,078,708 1,055,500 99.28
 2007 117 30 1,113,101 1,100,000 100.37

Foster City’s real estate remains strong to date.  Homes may be taking slightly longer to sell but according to this snapshot the prices are still climbing. 

 2008 Closed Sales Average CDOM Average Sales Price Median Sales Price % of List Price Received
January 4 50 1,213,750 1,227,500 99.31
February 8 53 1,208,000 1,219,000 98.99
March 6 93 1,042,500 962,000 98.21
April 6 62 1,128,833 1,099,500 97.16
May 9 21 1,113,695 956,505 99.48
June 11 26 1,149,626 1,250,000 96.92
July 13 44 1,123,090 1,060,000 97.16
August 10 38 1,166,900 1,155,000 96.38

Got a Foster City real estate question?   Call me at 650.888.9268 or send me an email Vicki [at] CallVicki.com.  You can also subscribe to my blog feed by clicking here.

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All the best,
Vicki Moore

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. Liko says:

    Nice post on Foster City median home prices. I would be very interested in seeing Sept. and Oct 2008 data.

  2. admin says:

    Thanks Liko. I’ll work on September and when October closes, I’ll post it as well.

    Vicki

  3. Vicki Moore Vicki Moore says:

    All right – after computer problems, MLS problems – excuses, excuses – September and October are posted. Take a look here: http://sanmateorealestateblog.com/2008/11/foster-city-market-review/

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