by Darlene Olafsen

Living in Ocean Colony on the golf course is a unique experience. The reasons for living there are varied and those who live there tell me that they love it. It is the only gated community on the Coastside and that in itself makes it exclusive. It also has some of the most beautiful and desirable homes in Half Moon Bay. 

I took a look at this micro-market to see how it is faring in comparison to the rest of the coast. I found that overall, the homeowners on the coast have been experiencing a safe haven from the weak market, but that Ocean Colony has seen even greater protection in some significant ways.

Ocean Colony has seen a 9 percent increase in average sales price in 2008 compared to the first half of 2007, whereas on the Coastside overall the price increase was only 3 percent. Also, Ocean Colony homeowners are still getting nearly their full list price at purchase; the Coastside as a whole has gone from getting 98 percent of list price to getting only 94 percent.

In general, it is taking much longer to sell a home on the Coastside than it did in the past — up to 107 days. It is taking even longer in the micro-market of Ocean Colony. The days of selling your home in less than a month are over for now and we all need to settle in for the sales process of marketing, advertising, staging and open houses for the long haul when listing a home. But average home prices are still increasing here on the coast and that’s good news whether you live on the golf course or in the hills of El Granada.

Olafsen is a fine homes specialist with Prudential California Realty on the Coastside and Peninsula. Call or email her with your real estate questions and concerns at 650.520.6915 or Darlene@PropertyByD.com.