December 6, 2007

Quarterly Home Value Reports - Mid-Peninsula

Zillow statisticians have done their homework, crunching numbers and data to provide information on home values, appreciation, and specific neighborhoods. How did the Mid-Peninsula fare in their 3rd quarter report?

Belmont showed a .4% drop in home values over the second quarter, but over the course of the last year, the average estimated home price has gone up 3.4%. Redwood City fared a little better, seeing no change at all from the last quarter, and a 3.5% increase over the last four quarters. Then there is the gem of the area, San Carlos, who bucked the trends and showed a 1.3% increase in the 3rd quarter and a 7.9% increase in the last year.

Looking at their neighborhood statistics, I see that 94062 in Redwood City (Emerald and Farm hills) has the highest average home price, but also has taken the biggest hit in the last quarter and the last year, -2.5% and -1.7%, respectively. The zip code 94065 has been the most stable, but 94061 has seen the highest increase in home values over the last year (+4.3%).

Overall, the Mid-Peninsula is faring well. The biggest hits have been taken by towns such as Oakley, Bay Point, and Antioch, with Santa Rosa being the big winner (or loser) with -14.1% change over last quarter and a -15.8% change overall. I’ll start counting my blessings now…..