The Burlingame neighborhood of Burlingame Grove is a small region of the city south of Broadway. The neighborhood typically averages one home sold every month or two. In 2012, there was strong buyer demand in Burlingame Grove. Very few homes remained on the market for longer than a couple of weeks. The average days on market in 2012 was 22 days. In the prior four years it ranged from 44 days to 62 days.
There were ten homes sold in Burlingame Grove in 2012. While there have been more homes sold in some prior years, 2012 was a particularly successful year for sellers. For example, in 2008, there were 16 homes sold, but there were also 27 homes listed, and 15 homes that had been listed in 2007 or 2008 had their listings expire or cancel in 2008. In 2012, there were only 12 listings (so a much greater share of sellers actually sold their home) and only two listings expired or were cancelled. Also, sellers received on average 4% more than their final asking price in 2012. In 2008, the average sales price equaled the listing price. An extra 4% is equivalent to $40,000+ in a market where homes typically go for more than $1 million.
Selling values are quickly reaching the peak levels seen in 2008. The average price per square foot in 2012 was $706, as compared to $729 in 2008.
Burlingame Grove is sometimes referred to as Burlingame Gate.
By The Numbers - Burlingame Grove Real Estate for 2012 and January 2013
|Current Month||YTD Total or Average|
|January 2012||January 2013||Jan - Dec 2011||Jan - Dec 2012|
|Days on Market||N/A||N/A||54||22|
|Avg $ per Sq Ft||N/A||N/A||$640||$706|
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