Burlingame Hills Real Estate Update November 2011 - Inventory Up

There has not been a lot of recent activity in the Burlingame Hills. In the three month period from September to November 2011, there were four homes sold. For the year, sales activity has been down slightly from 2010. Through the first eleven months of 2011, there have been 21 homes sold in the Burlingame Hills, versus 27 in the same period last year.

In many areas of Burlingame, sales have been constricted by a lack of a lack of inventory. This does not appear to be the case in Burlingame Hills. For the year, there has been the same number of new homes listed as in 2010. Inventory levels have increased slightly. At the end of November 2011, there were 12 homes for sale in the neighborhood, which is the most in any month since last September.

While inventory is increasing somewhat, well-priced attractive homes are selling quickly. The average days on market, which measures the average length of time between a homes listing date and the date it goes into contract has been 41 days in 2011, as compared to 56 days in 2010.

It is difficult to get a an accurate reading of price trends in a neighborhood with as few homes as Burlingame Hills. Median and average selling prices are down from 2010. However, that is due to smaller homes selling. The average selling price per square foot has been $580 in 2011, up from $550 in 2010.

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.

By The Numbers - Burlingame Hills Real Estate for November 2011