Real Estate Crackle

You can almost feel the electricity in the air today at various open houses in B'game and San Mateo.  Husbands pacing back and forth in the street with a flyer in one hand and a cell phone in the other.  Little kids asking "Mom, do you like this one?"  The S.F. Examiner real estate section has a piece that notes

For San Mateo, 2009 was a year of fits and starts.  Early momentum gave way to a late summer swoon, followed by two strong months and anot-unusual mid-winter slowdown.

But back in March, we noted some life returning.  And the Examiner verifies that with

Comparing March, 2010 to March, 2009, we see an even rosier picture.  Year-over-year, San Mateo is up 27% in average sale price ($750,910 in 2009), 60% in total sales (28 in 2009).  Overall sales revenue has doubled.  And this happened with inventory higher than it has been since July.

They conclude

The overall message is positive; homes at all price points are moving in San Mateo, and good news for San Mateo means good news for the entire Peninsula.

Of course, some sellers are worried that we are only half way through a W-shaped recovery.

Comments

[Housepoor]

One web site shows 67 houses for sale now. How does that compare with the usual?