The real estate market for the San Francisco Peninsula remained robust last month, despite the gloom and doom predictions of some soothsayers.  The following data for June illustrates the market strength of single-family properties in some of these Bay Area cities:

Foster City:

• Average Days on the Market: 32
• Average Sales Price:  $1,919,543 (increase of $44,318 over May)
• Price Received same as asking price

Menlo Park:

• Average Days on the Market: 17
• Average Sales Price:  $3,166,832 (increase of $598,244 over May)
• Price Received same as asking price

Belmont:

• Average Days on the Market:  22
• Average Sales Price:  $1,829,930 (increase of $141,153 over May)
• Price Received was more than asking price

San Carlos:

• Average Days on the Market:  19
• Average Sales Price:  $2,123,333 (increase of $86,938 over May)
• Price Received was same as asking price

San Mateo:

• Average Days on the Market:  33
• Average Sales Price:  1,820,081 (increase of $104,969 over May)
• Price Received was same as asking price

It is clear from these statistics that the public continues to consider real estate a safe investment even in these uncertain times.  Perhaps one reason for its popularity is the fact that of the four primary avenues of investments available along with stocks, savings accounts, and gold, it is the only one you can also live in!

If you have been thinking about selling a house or buying a home – or even investing in real estate – now is a good time.

Feel free to call us at Sun Pacific Mortgage & Real Estate at 707-523-2099 with any questions; We are here to help with our alternative financing programs for those turned down elsewhere for mortgages.  We are also always looking for more private investors, those who want to invest in deeds of trust for higher returns. We’ve been here for over 3 decades and are still family owned & operated.