Burlingame Market Stats - April 2011

April 2011 was a strong month in Burlingame. Inventory -- while typically low -- was even lower than last year, with 76 homes on the market last year (40 of those were new listings in April 2010) compared to only 58 homes for sale this past month (33 new listings). Burlingame still recorded 15 closed sales, and although slightly less than last year's 18 closed sales at the same time, the median sales price increased from $1,329,000 to $1,360,000. The other noteworthy stat is that of the 15 homes that closed this past April, they sold on average at 99% of the list price. This ratio is only calculated based on the actual list price at the time the home is sold, so if a home was on the market for a couple of months and then had a price adjustment and sold right away, this percentage would be calculated based on the new list price. Still though, this says that for the homes that are selling, they are selling very close to their asking price, and that sellers know when their home is finally priced well as they'll start seeing the activity. Overall, another very healthy month for Burlingame.