Lyon Hoag Real Estate Update - January 2012
2011 was a big year for Lyon Hoag when 29 homes were sold, more than double the number sold in any recent year. The homes that sold in 2011 did so in an average of one month, as compared to two months in 2010. There were 13 homes sold in May-July 2011 alone, the same as all of 2010.
No homes were sold in January 2012, breaking a streak of eight straight months with at least one home sold.
Lyon Hoag is one of the lower priced neighborhoods in Burlingame, with an average price per square feet just above $525 and average/median selling values in the $800,000-$900,000 range. Like most neighborhoods, there is a wide range of selling values. In November 2011, a home was listed for $1.45 million.
It is difficult to track price trends in an individual neighborhood. The average selling price to list price has averaged about 100 over the past two years, suggesting that buyers are sometimes bidding above asking prices (as well as sellers sometimes dropping their asking prices).
If you're interested in learning more about the Lyon Hoag real estate market, considering selling your home in Lyon Hoag, or thinking about moving to Lyon Hoag, please drop me a line and I'd love to connect with you.
By The Numbers - Lyon Hoag Real Estate for January 2012
| Current Month | Last Year Total or Average | |||
| January 2011 | January 2012 | 2010 | 2011 | |
| Sales | 3 | 0 | 13 | 29 |
| Days on Market | 24 | N/A | 64 | 32 |
| Average Price | $694,000 | N/A | $942,538 | $855,621 |
| Median Price | $690,000 | N/A | $968,231 | $933,379 |
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