Home Values - 94002 Condos
Average and Median Home Price of 94002 Condos Sold
When trying to understand 94002 home values for condos the first and most often real estate trend looked at is either average or median condo sales price. The average price can be pushed up by a particularly expensive condo being sold. Much less often an especially low price for several condos can push the average price down. By looking at both average and median price a quick judgment can be made about any unusually high or low prices. When a condominium development is offered for sale, the number of units offered can shift both average and median prices.
Quarterly Average and Median Price of 94002 Condos Sold
Price Per Square Foot for 94002 Condos Sold
The average sales price of condos is typically affected by the average size of the condos sold. If a new development comes up for sale, the average size can be affected which in turn affects the average sales price. This same development may affect trends a second time about five years later if many of the first purchasers decide to sell and move to a bigger home. Looking at price per square foot gives a partial adjustment for changes in the typical condo sold.
Quarterly Average Price Per Square Foot for 94002 Condos Sold
Sales Price vs. List Price for 94002 Condos Sold
94002 condo buyers and sellers want to know the typical relationship between list price and sales price. This relationship varies with city and time. The plots below show trends for this relationship using color coding which generally highlights changes in the market. More condos being sold over list price is a very good indicator of rising condo prices. More condos being sold under list price is a very good indicator of falling condo prices. Comparing 94002 condo prices to 94002 house prices can give you more insight into whether there is a general change in 94002 home prices or if something unique to condos is happening.
Quarterly Average Sales Price & List Price for 94002 Condos Sold
Number of 94002 Condos Sold
A quick estimate of how active the 94002 condo real estate market is, can be found by looking at the number of condos sold. Locally there is a strong seasonal change in the number of homes sold. The lowest number of homes sold typically occurs around December & January. The highest number of homes sold typically occurs around May. This seasonal trend is often altered for condo sales by a large new development beginning to sell their condos. Price changes do not track the seasonal change in the number of condos sold.