As 2008 wraps up and we all grasp onto our crystal balls to determine the fate of 2009... I wanted to end the year on a positive note with some statistics from the San Mateo County Multiple Listing Service that may help to give us all a positive outlook on the Real Estate market for 2009. South San Francisco was one of the Peninsula's hardest hit cities with short sales and foreclosures, but by the looks of it, SSF seems to be bouncing back just fine.

South San Francisco's First Quarter:

 South San Francisco's Second Quarter:

South San Francisco's Third Quarter:

Take a close look at the increase in closed sales, percentage of listing price received and total sales volume, while there is a steady decrease in Days on Market. While the average sales price has dropped since the first quarter it seems to have hit its threshold in the third quarter and on its way back up... although we don't yet have the statistics for the end of the year, all signs point to even more increases in closed sales and decreases in days on market. These are all great signs of a distressed market rebounding and becoming once again a stable market with so many great opportunities for buyers.
These statistics aren't just good news for buyers, its great news for all of you home owners. A stable market leads to appreciation, which leads to equity, which is why Real Estate in my opinion is the greatest investment you can ever make. I'll let you make your own opinions, but i'm sticking to mine!