2010 Skyline Area Year in Review
As we look in the rear view mirror at 2010 it is time we take a look at what the real estate market did in the Skyline area of Woodside. This area incorporates area's 272 and 273 of the MLS, or approximately from Highway 92 down Skyline Blvd to a bit past Alpine road encompassing about a mile on either side of Skyline Blvd.
The stats this year seem to show that this area has reached a point of equilibrium. Last year we saw a large drop in the sales price from the all time high of 2008 down over 17% after steady climbs from 2000. This year we saw slight increase of 6% from last year, not bad considering the general housing market.
In addition, the ask price vs sales price was much more inline with norms. If you look at 2009 you see there was a much larger discrepancy in list vs. ask price, with the sales price being about 85% of the list price. This year it was a much more reasonable 92%.
On an even more positive note, the number of transactions were up from last year from 12 to 19. This is lower than the average number of transactions since 2000 of 29, but up substantially from last year and 2008.
It appears in 2008 that there were a few home that were priced right and they sold but there were a huge number in 2008,2009 and even 2010 that were not and thus didn't sell (see graph below). This leads me to believe that there are still people that haven't quite accepted the reality of the new market when they try to sell their house. More sellers seem to be realizing this new reality this year, which explains the decrease in the number of properties that didn't sell vs. the ones that did.
The days on market for the properties that sold down substantially from 2008 when it was 56 and 2009 when it was 165. In 2010 the median days on market was just 26. This is a huge decrease.
So what does this tell us?
It would appear this market has found its footing, sales vs. list price are more in line, volume is going up, days on market are down, all good signs. The Days on Market data is very telling. There are buyers out there, and when they see something that shows well and is reasonably priced, they move on it. The number of homes that did not sell and were pulled from the market is a bit troubling, but that number is coming down.
If you are a seller and want to move on with you life, make sure you are priced right and your agent has done everything they can to market the property and it appears you should sell in a relativity short period of time. If your home is on the market and it has been 30 or 60 days you may want to revisit your price. Only two things sell homes, price and marketing.
If you have any questions about this or would like the raw data we would be happy to supply you with it. We sold three times more homes in this area than our nearest competitor and have done so for years, we are very familiar with this market. Please feel free to contact us at 650-851-8100 or visit our website at www.BirdHayes.com and we can show you how to thrive in this challenging market.
The stats this year seem to show that this area has reached a point of equilibrium. Last year we saw a large drop in the sales price from the all time high of 2008 down over 17% after steady climbs from 2000. This year we saw slight increase of 6% from last year, not bad considering the general housing market.
In addition, the ask price vs sales price was much more inline with norms. If you look at 2009 you see there was a much larger discrepancy in list vs. ask price, with the sales price being about 85% of the list price. This year it was a much more reasonable 92%.
On an even more positive note, the number of transactions were up from last year from 12 to 19. This is lower than the average number of transactions since 2000 of 29, but up substantially from last year and 2008.
It appears in 2008 that there were a few home that were priced right and they sold but there were a huge number in 2008,2009 and even 2010 that were not and thus didn't sell (see graph below). This leads me to believe that there are still people that haven't quite accepted the reality of the new market when they try to sell their house. More sellers seem to be realizing this new reality this year, which explains the decrease in the number of properties that didn't sell vs. the ones that did.
The days on market for the properties that sold down substantially from 2008 when it was 56 and 2009 when it was 165. In 2010 the median days on market was just 26. This is a huge decrease.
So what does this tell us?
It would appear this market has found its footing, sales vs. list price are more in line, volume is going up, days on market are down, all good signs. The Days on Market data is very telling. There are buyers out there, and when they see something that shows well and is reasonably priced, they move on it. The number of homes that did not sell and were pulled from the market is a bit troubling, but that number is coming down.
If you are a seller and want to move on with you life, make sure you are priced right and your agent has done everything they can to market the property and it appears you should sell in a relativity short period of time. If your home is on the market and it has been 30 or 60 days you may want to revisit your price. Only two things sell homes, price and marketing.
If you have any questions about this or would like the raw data we would be happy to supply you with it. We sold three times more homes in this area than our nearest competitor and have done so for years, we are very familiar with this market. Please feel free to contact us at 650-851-8100 or visit our website at www.BirdHayes.com and we can show you how to thrive in this challenging market.
Posted by Scott Hayes and Karin Bird at 1/9/2011 7:14 PM 
Categories: sales statistics
Tags: Skyline skyline market stats 2010
Categories: sales statistics
Tags: Skyline skyline market stats 2010
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