Pacifica Home Values & Market Update
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Updated April 17, 2018

Market Snapshot – Pacifica (Recent Sales here)

Pacifica 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 Pacifica 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) $1,011,450 14.8%
Overbids (%) 110.90% 6.5%
New Listings (#) 29 -10.67%
Homes Sold (#) 26 -25.42%
Months of Inventory 0.5 -31.48%
Median Days on Market (DOM) 11 18.18%
Average Days on Market (DOM) 13 -33.82%

 

Median Sales Price – Pacifica SFR

Ratio of List Price to Sold Price (Overbids) – Pacifica SFR

Number of New Listings vs Sold Listings – Pacifica SFR

Months of Inventory – Pacifica SFR

Median and Average Days on Market (DOM) – Pacifica SFR

 

Pacifica 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
106 Amapola Avenue 3/15/18 1,092.77 $907,000 1.009 45 2 2|0 830 4,800 Lot SqFt
132 Angelita Avenue 4/10/18 709.56 $965,000 1.073 15 3 2|0 1,360 2,500 Lot SqFt
1303 Aspen Drive 3/9/18 648.65 $1,200,000 1.093 3 3 2|1 1,850 19,000 Lot SqFt
1160 Banyan Way 4/4/18 583.82 $1,010,000 1.063 12 5 2|0 1,730 5,950 Lot SqFt
1981 Beach Boulevard 3/22/18 1,368.78 $1,012,900 1.018 16 1 1|0 740 2,500 Lot SqFt
2081 Beach Boulevard 3/31/18 814.81 $1,100,000 0.733 49 2 2|0 1,350 4,200 Lot SqFt
146 Beachview Avenue 1/30/18 751.78 $1,266,000 1.278 8 3 2|1 1,684 4,000 Lot SqFt
239 Berendos Avenue 1/18/18 929.2 $1,050,000 1.168 12 3 2|0 1,130 5,450 Lot SqFt
15 Brookhaven Court 3/1/18 783.9 $925,000 1.088 9 3 2|0 1,180 4,545 Lot SqFt
242 Calaveras Avenue 3/9/18 1,168.83 $900,000 1.125 13 2 1|0 770 6,080 Lot SqFt
835 Cape Breton Drive 2/22/18 780.14 $1,100,000 1.048 8 3 2|0 1,410 9,100 Lot SqFt
1015 Crespi Drive 3/26/18 653.06 $960,000 1.129 12 3 2|0 1,470 6,328 Lot SqFt
1147 Crespi Drive 1/31/18 867.35 $850,000 0.988 26 3 1|0 980 8,820 Lot SqFt
820 Crespi Drive 1/25/18 667.88 $915,000 1.046 19 3 2|0 1,370 6,696 Lot SqFt
484 Cullen Drive 3/16/18 907.08 $1,025,000 1.207 12 3 2|0 1,130 6,760 Lot SqFt
1142 Dulles Court 3/2/18 679.64 $1,135,000 1.195 0 3 3|0 1,670 6,160 Lot SqFt
752 Edgemar Avenue 3/23/18 723.58 $890,000 1.113 11 3 2|0 1,230 5,550 Lot SqFt
280 Edgewood Drive 3/7/18 1,024.59 $1,250,000 1.051 10 3 2|0 1,220 8,450 Lot SqFt
559 Esplanade Avenue 4/9/18 1,147.25 $1,044,000 1.188 10 2 1|0 910 4,992 Lot SqFt
349 Farallon Avenue 2/26/18 725 $1,305,000 1.211 1 3 2|0 1,800 6,600 Lot SqFt
501 Farallon Avenue 2/14/18 755.41 $1,535,000 1.398 8 3 2|0 2,032 11,250 Lot SqFt
1148 Fassler Avenue 4/13/18 801.28 $1,250,000 1.19 8 3 2|0 1,560 6,000 Lot SqFt
483 Glasgow Drive 1/5/18 527.78 $950,000 1.118 5 5 2|0 1,800 5,000 Lot SqFt
323 Heathcliff Drive 4/2/18 467.29 $1,000,000 1.017 32 3 2|0 2,140 6,860 Lot SqFt
416 Heathcliff Drive 4/13/18 963.3 $1,050,000 1.108 29 3 1|1 1,090 12,240 Lot SqFt
1323 Hermosa Avenue 3/14/18 765.63 $980,000 1.128 12 3 1|0 1,280 5,000 Lot SqFt
15 Idlewild Court 1/19/18 758.87 $941,000 1.141 16 3 1|1 1,240 4,700 Lot SqFt
6 Idlewild Court 3/30/18 717.7 $1,200,000 1.264 7 4 2|1 1,672 5,300 Lot SqFt
532 Inverness Drive 2/9/18 393.15 $850,000 1.097 17 5 2|0 2,162 5,000 Lot SqFt
1204 Lerida Way 4/11/18 725.08 $1,200,000 1.335 7 4 3|0 1,655 7,100 Lot SqFt
1259 – A Lerida Way 3/23/18 573.86 $1,383,000 1.26 8 4 3|0 2,410 8,528 Lot SqFt
1330 Lerida Way 2/1/18 981.98 $1,090,000 1.178 14 3 2|1 1,110 5,300 Lot SqFt
635 Linda Mar Boulevard 2/9/18 866.24 $900,888 1.1 9 3 1|0 1,040 5,000 Lot SqFt
796 Linda Mar Boulevard 2/2/18 817.31 $850,000 1.038 33 3 1|0 1,040 5,000 Lot SqFt
811 Linda Mar Boulevard 3/27/18 905.77 $942,000 1.142 11 3 1|0 1,040 4,998 Lot SqFt
424 Lynbrook Drive 1/2/18 713.74 $935,000 1.052 18 3 1|0 1,310 4,200 Lot SqFt
500 Lynbrook Drive 2/7/18 767.94 $1,006,000 1.234 11 3 2|0 1,310 4,100 Lot SqFt
307 Magellan Drive 3/16/18 839.16 $1,200,000 1.336 8 3 2|0 1,430 4,000 Lot SqFt
1160 Manzanita Drive 3/30/18 583.33 $980,000 1.09 10 3 3|0 1,680 7,616 Lot SqFt
244 Marina Way 4/4/18 880.95 $925,000 0.952 78 3 2|0 1,050 5,000 Lot SqFt
477 Moana Way 3/14/18 821.14 $1,010,000 1.204 11 3 2|0 1,230 5,350 Lot SqFt
358 Olympian Way 2/16/18 616.55 $1,788,000 1 50 3 3|0 2,900 14,250 Lot SqFt
1140 Palou Drive 3/7/18 637.68 $880,000 1.001 9 3 2|0 1,380 7,535 Lot SqFt
133 Paradise Drive 3/14/18 680.95 $858,000 1.146 7 3 2|0 1,260 4,080 Lot SqFt
280 Piedmont Avenue 3/14/18 913.04 $1,050,000 1.106 22 3 2|0 1,150 5,950 Lot SqFt
1106 Rainier Avenue 4/12/18 615.2 $1,255,000 1.143 13 3 3|0 2,040 8,500 Lot SqFt
1151 Rosita Road 2/16/18 739.29 $1,035,000 1.164 12 4 2|0 1,400 5,500 Lot SqFt
9 Sequoia Way 3/30/18 662.65 $1,100,000 1.049 12 4 3|0 1,660 9,448 Lot SqFt
844 Standish Road 4/16/18 747.97 $920,000 1.051 11 3 2|0 1,230 5,000 Lot SqFt
886 Standish Road 3/14/18 817.11 $947,850 1.066 12 3 2|0 1,160 5,096 Lot SqFt
1532 Terra Nova Boulevard 4/11/18 418.25 $1,100,000 1.101 20 5 3|1 2,630 5,000 Lot SqFt
39 Timberhill Court 2/1/18 610.5 $1,575,099 0.984 25 5 3|0 2,580 4,532 Lot SqFt
1024 Valencia Way 3/20/18 863.96 $959,000 1.116 15 3 2|0 1,110 6,000 Lot SqFt
1062 Yosemite Drive 3/22/18 815.44 $1,215,000 1.234 4 3 2|1 1,490 10,176 Lot SqFt
991 Zamora Drive 3/30/18 636.75 $1,499,550 0.937 17 4 2|0 2,355 1.11 Acres