Podcast: 2008 in Review, Key Trends for 2009 in San Carlos…
January 1, 2009
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:
|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.
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…