Ray Park Real Estate Update January 2012

After lots of activity in the middle 2011, there have not been very many homes sold recently in Ray Park in Burlingame. No homes have sold in the last two months (December 2011 and January 2012).  This is not wholly atypical, there were also no homes sold in December 2010 and January 2011. Home sales are highest in the summer months.

The recent lack of activity is driven by a lack of available inventory.  Only three homes have been listed for sale since August 2011, of which just one was listed since October. At the end of January 2012, there was only one home for sale in Ray Park.

Ray Park continues to be one of the most desirable neighborhoods in Burlingame, with the average days on market one of the lowest of any neighborhood in the city. Of course, not all homes sell quickly (or sell at all) -- they have to be properly priced and marketed -- but there are definitely buyers out there waiting for the right Ray Park home to come onto the market.

Pricing appears to be strong in Ray Park. The average price per square foot in 2011 was up 5% from 2010. Once 2012 sales activity picks up, likely in spring, we will monitor to see if the price acceleration is continuing, or was just a blip.

If you're interested in learning more about the Ray Park real estate market, considering selling your home in Ray Park, or thinking about moving to Ray Park, please drop me a line and I'd love to connect with you.

By The Numbers - Ray Park Real Estate for January 2012