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Burlingame Hills Real Estate - January 2013

February 19th, 2013

High Sales Activity

There were 36 homes sold in the Burlingame neighborhood of Burlingame Hills, up from 22 homes sold in 2011. The high level of sales activity cleared out a lot of listings that had been on the market for 6+ months, some of it since the middle of 2011. As a result, inventory levels have declined. At the end of January 2013, there were four unsold homes on the market in Burlingame Hills, down from 13 available homes at the end of January 2012.

Lower inventory may start to tilt the market in favor of sellers. In most of Burlingame, it has been a strong seller's market for the past 12 months or so. Burlingame Hills has been a little more even, with fewer homes seeing multiple offers, and homes remaining on the market for longer periods. This may change if inventory remains low.

Tracking price levels in a neighborhood like Burlingame Hills can be difficult because of the wide range of selling values. In 2012 there have been sales under $1 million and over $2 million. The average price per square foot, which somewhat adjusts for this variation in selling values suggests prices are rising, following the same trend as the rest of Burlingame. The average price per square foot was $579 in 2012, up from $572 in 2011, and $546 in 2010.

 

By The Numbers - Burlingame Hills Real Estate for 2012 and January 2013

  Current Month YTD Total or Average
  January 2012 January 2013 Jan - Dec 2011 Jan - Dec 2012
Sales 1 2 22 36
Days on Market 230 59 47 65
Average Price $1,100,000 $1,795,000 $1,424,864 $1,602,528
Median Price $1,100,000 $1,795,000 $1,263,545 $1,565,861
Avg $ per Sq Ft $440 $742 $572 $579
 

Thinking of buying or selling a home in Burlingame Hills?

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