Foster City Home Values & Market Report
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Updated April 23, 2018

Market Snapshot – Foster City (Recent Sales here)

Foster City continues to mirror the overall market trend in the Bay Area, with rising sale prices and extremely limited and declining inventory. It marked the sixth straight year for higher sales prices for both single family homes and condo/townhomes.

The current Bay Area real estate market hinges on an extremely low supply of homes. This low inventory, combined with strong demand among home buyers, is largely responsible for the continued appreciation across most price points and markets. According to Trulia’s Chief Economist Ralph McLaughlin, this isn’t a bubble as we’ve seen in previous up cycles, but the result of basic economic forces of (lack of) supply and (strong) demand. Multiple forces are keeping home inventory low. There aren’t enough new homes being built to meet increasing demand. Additionally, current California property tax code provides a strong financial incentive for long-term homeowners to stay in their existing homes. McLaughlin also notes that the new congressional tax plan with its lower cap on the mortgage interest deduction may act to further limit supply. Under the new law, the cap on the mortgage interest deduction is reduced from $1 million to $750,000. Existing homeowners are grandfathered in at the $1 million level, giving them even more incentive to stay put.

Finally, the Fed raised interest rates in March, which will likely impact mortgage rates. Higher mortgage rates reduce buying power. Between reduced buying power and increasing prices, time is not on the side of buyers right now. Those who are ‘waiting it out’ may be waiting a long time.

Here are the numbers for March 2018. If you are curious about your Foster City home value, you can receive a free online estimate, or request a custom evaluation which we are happy to give to you, free, without the hard sales pitch.

 

Mar-18 % Change Year Over Year Rolling 3 Month Average
Median Sales Price ($USD) $2,000,000 8.2%
Overbids (%) 109.30% 1.2%
New Listings (#) 12 -12.12%
Homes Sold (#) 11 -11.11%
Months of Inventory 0.3 -48.39%
Median Days on Market (DOM) 12 -32.50%
Average Days on Market (DOM) 11 -30.95%

Median Sales Price – Foster City SFR

 

Ratio of List Price to Sold Price (Overbids) – Foster City SFR

 

Number of New Listings vs Sold Listings, Foster City SFR

 

Months of Inventory – Foster City SFR

 

Median and Average Days on Market (DOM) – Foster City SFR

 

Foster City Single Family Home Closed Sales since 1/1/2018

Street Address Close Date Price/SqFt Sale Price RATIO Close Price By List Price DOM Beds Total Bths Sq Ft Total Lot Size
604 Bahama Lane 3/5/18 979.38 $1,900,000 1.086 12 2 2|0 1,940 6,148 Lot SqFt
1855 Beach Park Boulevard 1/3/18 892.27 $1,615,000 1.078 4 4 2|0 1,810 5,225 Lot SqFt
324 Bowfin Street 2/26/18 1,037.23 $1,950,000 1.09 11 4 2|0 1,880 5,170 Lot SqFt
784 Coronado Lane 4/4/18 866.73 $1,828,800 1.03 28 3 2|0 2,110 4,000 Lot SqFt
972 Flying Fish Street 3/20/18 895.2 $2,050,000 0.953 19 4 2|1 2,290 7,056 Lot SqFt
642 Greenwich Lane 3/6/18 1,238.84 $2,775,000 1.035 0 4 3|1 2,240 5,750 Lot SqFt
841 Grenada Lane 3/6/18 1,073.25 $3,150,000 1.125 16 4 2|1 2,935 6,700 Lot SqFt
1005 Jamaica Street 4/6/18 1,107.69 $2,160,000 1.272 12 4 2|0 1,950 6,650 Lot SqFt
919 Marlin Avenue 4/11/18 1,038.25 $1,900,000 1.093 7 4 2|0 1,830 5,664 Lot SqFt
360 Menhaden Court 2/28/18 1,112.90 $2,070,000 1.151 11 3 2|0 1,860 5,225 Lot SqFt
617 Mystic Lane 2/20/18 989.69 $1,920,000 1.104 1 3 2|1 1,940 4,000 Lot SqFt
348 Pompano Circle 3/19/18 888.89 $2,000,000 1.252 14 4 3|0 2,250 6,426 Lot SqFt
260 Ross Lane 3/15/18 930.88 $2,020,000 1.07 12 3 3|0 2,170 6,566 Lot SqFt
700 Santa Rosa Lane 4/5/18 1,172.59 $2,310,000 1.156 13 3 2|1 1,970 9,650 Lot SqFt
151 Spinnaker Street 4/3/18 964.29 $2,160,000 1.206 12 4 3|0 2,240 5,225 Lot SqFt
251 Spinnaker Street 2/8/18 826.27 $1,950,000 1.032 34 4 3|0 2,360 5,225 Lot SqFt
200 Stilt Court 4/6/18 833.33 $1,800,000 1.066 10 4 2|1 2,160 5,217 Lot SqFt
179 Thatcher Lane 3/9/18 747.93 $2,350,000 0.987 16 4 2|1 3,142 5,940 Lot SqFt
320 Topsail Court 3/26/18 1,028.95 $1,955,000 1.125 12 4 2|0 1,900 6,600 Lot SqFt
706 Vespucci Lane 3/12/18 916.06 $1,768,000 1.112 5 4 2|1 1,930 4,260 Lot SqFt
767 Widgeon Street 3/23/18 1,025.57 $1,805,000 1.137 9 4 2|0 1,760 5,264 Lot SqFt
281 Winchester Court 3/26/18 1,210.94 $1,550,000 1.141 3 3 2|0 1,280 5,320 Lot SqFt