Foster City is located on the Peninsula of San Francisco. It’s a city of approximately 30,000 residents and is located adjacent to Highway 101 making it a hot location for those biotech and hitech commuters.
Foster City is located on the Peninsula of San Francisco. It’s a city of approximately 30,000 residents and is located adjacent to Highway 101 making it a hot location for those biotech and hitech commuters.
Homes for Sale in Foster City
Active Listings: 27 homes
New Listings: 13 homes
Sold Listings: 6 sales
Foster City Home Sales Price Info
Median Sales Price: $1,117,500
Average Sales Price: $1,150,333
Sale Price to List Price Ratio: 97.29%
Average Number of Days to Sell: 38
A home located on Santa Cruz Lane was the most expensive house to sell in Foster City this month – selling for $1,599,000 . The least expensive home sold for $833,000 .
Foster City is located on the Peninsula of the San Francisco Bay Area. It’s a city of approximately 30,000 residents and is located adjacent to Highway 101 making it a hot location for those biotech and hitech commuters.
Foster City is a Northern California city of approximately 30,000 residents and is located adjacent to Highway 101 making it a hot location for those biotech and hitech commuters.
One of its unique features is that it’s one and hiof only a few areas located on the water.
The state of the economy didn’t stop Gilead from moving forward with its plans to purchase the Electronics For Imaging headquarters. CoStar Group reports Gilead has completed its partial acquisition of the Electronics For Imaging (EFI) headquarters along with an adjacent 30-acre parcel for $137.5 million.
During such an economic meltdown, not only Foster City will appreciate the strength and growth Gilead is bringing to the area but so will the rest of the county.
Got a Foster City real estate question? Call me at 650.888.9268 or send me an email Vicki [at] CallVicki.com. If you like what you’ve read, subscribe to the San Mateo Real Estate Blog feed.
So what’s it all mean? It’s all down: closed sales, average days to sell, average sales price, median, and percentage of the list price. Not much, but it is.
The next task is to see if it’s the market or is it that October always shows a little drag? Tune in next time.
Got a Foster City real estate question? Call me at 650.888.9268 or send me an email Vicki [at] CallVicki.com. If you like what you’ve read, subscribe to the San Mateo Real Estate Blog feed.
During an investor conference call, Gilead Chairman and CEO John Martin attributed the strong performance both to record product sales and “disciplined management of our expenses.” Couldn’t we all use a little disciplined management of our expenses.
Per tmcnet.com: ”Gilead reported third-quarter earnings of $504 million, or 52 cents per share, on a GAAP basis, and $534.1 million, or 55 cents per share, on a non-GAAP basis – beating analyst EPS estimates of 49 cents per share.
“Third-quarter total revenues reached a record $1.37 billion, up 30 percent over the third quarter of 2007 and beating analyst estimates of $1.32 billion.
“Product revenues also hit a record high, reaching $1.34 billion for the quarter, a 39 percent increase over the same period last year.”
Foster City is home to Gilead Sciences, one of the more well-known drug companies in the biotech world. They discover, develop and manufacture drugs for AIDS and cancer. And it just can’t keep its name out of the news. It’s one good thing after another. Because it’s an integral part of the local economy, I’m going to give you the haps here. And coming in the months and years, there’s going to be a lot to talk about.
Biz Journal reports they plan to hire 1900 people over the next ten years and will construct up to seven new buildings to hold them. What’s that mean? JOBS!
They really needed to do something about the physical structure of their offices. They look like little mushrooms in a field. Short, stout buildings detached from each other. That configuration hasn’t made it the most efficient working environment. And in addition, more jobs will help continue to keep Foster City and the Peninsula slightly immune (ooops, pun not intended) from some of the economic difficulties of the rest of the nation.
Got a Foster City real estate question? Call me at 650.888.9268 or send me an email Vicki [at] CallVicki.com. If you like what you’ve read, subscribe to the San Mateo Real Estate Blog feed.
The Foster City real estate market has remained steady and strong even during what is being called the worst market since 1979. For those who live there, I’m sure it’s no surprise. That strength may be a little disappointing for all those relocating “bio-techers.” Home buyers relocating from out of state are in a state, all right – a state of shock.
What’s keeping those prices rising above many others in San Mateo County? Its water-centric design makes it really unique and, of course, beautiful. The schools are top-notch adding to the housing demand. It’s a planned community with plenty of parks and shopping- it’s got just the right number of everything. Lastly, location, location, location. Foster City is a hotbed of biotech jobs – home to Gilead -and is a convenient commute to reach South San Francisco, the birthplace of biotech.
Take a look at what prices have done 1998 through 2007:
Closed Sales
Average Days to Sell
Average Sales Price
Median Sales Price
%of List Price Received
1998
179
33
548,839
550,000
99.16
1999
221
36
590,118
575,000
99.45
2000
220
26
758,776
735,000
103.17
2001
148
47
739,507
710,500
98.33
2002
182
40
771,786
757,500
99.02
2003
220
34
794,704
766,000
98.50
2004
197
21
910,084
888,000
101.56
2005
190
20
1,071,442
1,050,000
102.49
2006
144
36
1,078,708
1,055,500
99.28
2007
117
30
1,113,101
1,100,000
100.37
Foster City’s real estate remains strong to date. Homes may be taking slightly longer to sell but according to this snapshot the prices are still climbing.
2008
Closed Sales
Average CDOM
Average Sales Price
Median Sales Price
% of List Price Received
January
4
50
1,213,750
1,227,500
99.31
February
8
53
1,208,000
1,219,000
98.99
March
6
93
1,042,500
962,000
98.21
April
6
62
1,128,833
1,099,500
97.16
May
9
21
1,113,695
956,505
99.48
June
11
26
1,149,626
1,250,000
96.92
July
13
44
1,123,090
1,060,000
97.16
August
10
38
1,166,900
1,155,000
96.38
Got a Foster City real estate question? Call me at 650.888.9268 or send me an email Vicki [at] CallVicki.com. You can also subscribe to my blog feed by clicking here.
