Half Moon Bay is in a Buyer's Market

Here's what this week's Altos Report Market Update for Half Moon Bay single family homes shows:

1. Half Moon Bay (as a whole, not specific neighborhoods) list prices have been coming down from the peak of 2005 - now the median list price is $1,099,000; average list price is $ 1,322,108.
2. The quartile with the lowest days-on-market is the lower-middle 25% of homes with a median price of $877,000. . . at 70 DOM.  The other three quartiles of homes currently for sale all average over 100 days on the market.
3. 55% of listings have reset their days-on-market.
4. 30% of properties on the market this week have price reductions.
5. Average price per square foot for listings is $475.00

It is important to note that this information is for Half Moon Bay only, not the entire coastside, and not for specific neighborhoods in our communities.  Given the many micro-markets around the San Mateo Coastside, it is important to speak with a Realtor about your specific neighborhood if you are thinking of selling your home.  I can email the entire Report for this week if you contact me.

The complete post can be found at Coastside Real estate and Lifestyles.

Thank you Altos Research for your great products!