Ray Park Market Update August 2011 - Homes Move Quickly

Homes do not stay on the market for long in Ray Park. Days on market is a measure of how many days a home that sells stays on the market before it is sold.  For all of San Mateo County, the average home that sells is on the market for about 50 days. Some are sold the day they are listed, others take much longer. For the city of Burlingame, the average home sells in closer to 40 days. In 2011 in Ray Park, the 11 homes that sold were on the market for an average of 14 days! This does not appear to be an aberration, as last year the average home also sold in less than 20 days. Of course, not all homes sell this quickly (or sell at all), they have to be properly priced and marketed, but there are definitely buyers out there waiting for the right Ray Park home to come onto the market.

Year-to-date through August, there have been 11 single family detached homes sold in Ray Park, as compared to seven at the same point last year. Higher sales are a product of a few more new listings on the market than last year. Inventory remains low with only two homes on the market at the end of August.

If you look at the "by the numbers" section below, the data shows a big jump in selling prices from 2010 to 2011. The increase is due mainly to a change in the size of the homes on the market, not an increase in selling values. In the first eight months of 2010, the average size of the seven homes sold was 1,850 square feet. In 2011, the homes that have come onto the market and sold have averaged 2,200 square feet.

To learn more about this picturesque neighborhood of Burlingame, and to view the most up-to-date Ray Park homes for sale, click here. Ray Park is within walking distance of two highly rated elementary schools and is a short drive from the Millbrae BART and CalTrain station.

Recent Sales in Ray Park

By The Numbers - Ray Park August 2011

 

See below for all of the latest real estate market updates for August 2011:

San Mateo County (July 2011) Burlingame Hillsborough San Mateo San Carlos Burlingame neighborhoods (Burlingame Grove, Burlingame Hills, Burlingame Village, Easton Addition, Mills Estates, Ray Park, Terrace)