Podcast: 2008 in Review, Key Trends for 2009 in San Carlos…
For many people, the end of 2008 simply couldn’t come soon enough. It was a tough year in many respects, and the real estate market in San Carlos didn’t escape lightly, either. Below is a quick snapshot of the key sales figures in San Carlos for 2008 and how they fared versus 2007. I included the 2006 results as well for comparison. Also, I have outlined what I believe will be the key factors that will shape San Carlos Real Estate in 2009. I cover both in more detail in the podcast at the bottom of the page.
San Carlos Real Estate in 2008:
| Key Metrics | 2008 | 2007 | 2006 |
|---|---|---|---|
| Average Sales Price | $1,055,421 (-7.4%) | $1,139,530 | $1,090,250 |
| Median Sales Price | $966,000 (-10.6%) | $1,080,000 | $964,000 |
| Number of Sales | 247 (-16.2%) | 295 | 296 |
| Average Days on Market | 43 (+48.3%) | 29 | 24 |
(Note that the percentage difference in parentheses refers to the difference between the 2007 and 2008 figures. 2008 figures are were taken from MLS data as of 12/31 and should be considered approximate)
What’s in store for 2009?
The state of our economy right now is such a complicated mess, that it would be foolish to predict what’s going to happen in 2009. However, I think there are 3 key trends that will have a definite impact on which direction the San Carlos real estate market heads in the new year:
- Consumer Confidence.
- Interest Rates.
- San Carlos School Financial Crisis.
I discuss these three trends in more detail in the podcast below.
Podcast:
To hear the podcast, simply click on the player below and you can listen right from the blog.
Here’s to the market bouncing back in 2009! Happy New Year to all…
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