Easton Addition Real Estate Update November 2011 - Sales Pick Up

There were 10 homes sold in November 2011 in the Burlingame neighborhood of Easton Addition. This was only the second time in the last four years that there were double digit sales in a single month in Easton Addition. It was even more atypical because selling activity normally declines as we enter the winter months. Home sales have picked up in the last six months, after a slow start to the year. Through the first eleven months of the year, there have been 55 homes sold in Easton Addition, down slightly from 59 homes sold in the same period in 2010.

Sales activity has been dampened by a lack of available inventory. At the end of November 2011, there were seven homes for sale in the neighborhood. For the year, there has been an average of 11 homes for sale at the end of every month, with no more than 13 at any one time. Last year, there was an average of 16 homes for sale at the end of every month, with at least 17 homes unsold at the end of the month for the first six months of the year. Less inventory means that each seller has less competition and can better grab the attention of prospective buyers.

Price levels appear to be steady in Easton Addition, and it remains one of the more expensive neighborhoods of Burlingame. The average sold home is 2,400 square feet (versus 2,100 for all of Burlingame) and the average price per square foot is about $640 (versus $600 for all of Burlingame). With larger homes and higher prices per square foot, the average and median selling values are about $300,000 higher than all of Burlingame.

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

By The Numbers - Easton Addition Real Estate for November 2011