Burlingame Gardens Real Estate Update October 2011 - Homes Moving Faster

Raziel Ungar

November 10th, 2011 - 2 min read
email

Through the first ten months of the year there have been 11 homes sold in the Burlingame neighborhood of Burlingame Gardens, as compared to 7 homes sold in the same period last year.

Burlingame Gardens is one of the most affordable neighborhoods of Burlingame. While each property is different, the average and median selling values in Burlingame Gardens is in the $800,000 range, while for the entire city of Burlingame, selling values average in the $1,250,000 range. The difference in price is driven mostly by the size of homes. The average home recently selling in Burlingame Gardens is around 1,500 square feet, as compared to 2,100 square feet for the entire city. After adjusting for the price per square foot, selling values are about 10% lower in Burlingame Gardens.  This is much less than the 30-40% difference in overall selling values.

With lower price points and the ability to fit under conforming loan limits, the homes that have sold in Burlingame Gardens in 2011 have done so at a much quicker rate than in 2010. The average home that sold has done so in 41 days, as compared to 85 days in the prior year.

Because it is a small neighborhood, there is usually not a lot of excess inventory on the market. At the end of October 2011, there were two homes for sale. For most of the past few years, inventory has ranged from two to five homes. When a well priced home becomes available in Burlingame Gardens, buyers need to evaluate the property quickly.

If you're interested in learning more about the Burlingame Gardens real estate market, considering selling your home in Burlingame Gardens, or thinking about moving to Burlingame Gardens, please drop me a line and I'd love to connect with you.

Recent Sales in Burlingame Gardens

Address Recent Sale Beds Baths Square Feet Previous Sale Annual Change
526 Marin Aug 2011 $1,615,000 4 4 3,055 Sep 1989 $345,000 7.3%
925 Laguna Jun 2011 $720,000 3 2 1,650 Dec 2005 $970,000 -5.3%
1021 Toyon May 2011 $680,000 3 2.5 1,440 Oct 2008 $645,000 2.1%

By The Numbers - Burlingame Gardens Real Estate for October 2011

YTD Total or Average
Jan - Oct 2010 Jan - Oct 2011
Sales 7 11
Days on Market 85 41
Average Price $733,571 $832,727
Median Price $811,857 $846,545
Helpful Links
About Us
For Buyers
For Sellers
Communities
Blog
Properties