Burlingame Park Neighborhood Real Estate - April 2012
Steady Goes ItIn the Burlingame Park neighborhood, there are on average 1-2 sales per month. Through the first four months of 2012, there have been five homes sold, the same number as in the first four months of 2011.
Inventory is tight in Burlingame Park, just like it is across all of Burlingame. There were two unsold homes on the market at the end of April 2012, about the same as 2011, but far below April 2010 when there were 10 homes for sale. Fewer homes for sale means that each buyer has more competition, increasing the likelihood of multiple offers. In a market like this, buyers really have to keep on top of the new listings and be prepared to act decisively if the right property comes along. However, there has not been much to choose from, with only five new listings so far this year.
Burlingame Park is one of the most expensive neighborhoods in Burlingame, with average and median selling values usually in excess of $1.5 million. High prices are a product of exceptionally large homes (about 500 square feet bigger on average than Burlingame overall) and price per square feet in line with the city-wide average.
Note that the five sales in 2012 have a combined average price well below $1.5 million. No, this has nothing to do with falling prices (in fact, the general market trend in Burlingame right now is flat to rising). Rather, the homes happened to average 2,000 square feet, versus the nearly 3,000 square foot average homes that sold in the beginning of 2011.
Thinking of buying or selling a home in Burlingame Park?If you're interested in learning more about the Burlingame Park real estate market, considering selling your home in Burlingame Park, or thinking about moving to Burlingame Park, please drop me a line and I'd love to connect with you.
By The Numbers - Burlingame Park Real Estate for April 2012
|Current Month||YTD Total or Average|
|April 2011||April 2012||Jan - Apr 2011||Jan - Apr 2012|
|Days on Market||31||10||21||38|