Upper Hillsborough Real Estate - March 2012

Sales Even with 2011

Sales have been steady in the Upper Hillsborough region of Hillsborough. There have been 13 single family homes sold through March 2012, as compared to 10 at the same point last year. March alone was a big month with nine homes selling, the most of any month since nine homes were also sold in August 2010.

While many areas of San Mateo County are experiencing a decline in inventory, the number of homes for sale in the Upper Hillsborough real estate market is about flat with last year. As the end of March 2012, there were 21 homes for sale, as compared to 22 homes for sale in March 2011.

Movement in price levels is difficult to measure when there are so few sales. Most fluctuations of average or median prices are due to random changes in the type of home being sold, rather than actual changes in prices. For example, the average and median selling values for the 13 homes sold so far in 2012 are nearly 15-20% higher than the 2011 selling values. However, this increase has been driven entirely by the fact that on average larger homes have been selling. While "small" is relative when talking about Hillsborough, the average square footage of a home sold in Upper Hillsborough in 2012 has been about 550 square feet larger than in 2010. Looking at price per square feet, which is a way for adjusting for the size of a home, average selling values have been holding firm in the $600-$650 range.

Thinking of buying or selling a home in Upper Hillsborough?

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

For this analysis, Upper Hillsborough is defined as the neighborhoods of Hillsborough Hills, Skyfarm, Carolands and Lakeview. To view a map of Hillsborough, click here.

By The Numbers - Upper Hillsborough Real Estate for March 2012