San Francisco Peninsula Update on the Housing Market

February 11, 2013

40verbaleelane-hillsboroughOn the San Francisco Peninsula there are 14 active and 16 pending sales in Burlingame. Low inventory continues to be a problem everywhere. It is amazing how agents keep coming up with properties to sell to their waiting “pent up” buyers. Our Burlingame office just had 50 offers on a pair of fixer properties in San Mateo, which sold all cash substantially over asking price. There is little new inventory coming on in Hillsborough, however the high end is starting to show movement with four properties over $10 million and two over $5 million now in escrow. This is very encouraging to see high-end buyers actively in the market. Our Palo Alto manager says the inventory is even scarcer (if possible) than last year – while the demand is higher. Lack of inventory is the biggest concern for agents and clients in the Redwood City-San Carlos area. Agents are working in a wider area in order to find properties for their buyers. In San Mateo, our manager sees a slight increase in listings. Homes that are off-market coming back on the MLS in the Woodside and Portola Valley area. Sales have picked up over the past two weeks. Everyone has lots of buyers – not too many sellers yet.

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Housing Market Snapshot

June 3, 2012

An update on our current market counties in the Bay Area.

I hope you will find the following snapshot of local Real Estate inventory interesting. The table represents aggregated values based on MLS data for the specified date.

Housing Inventory Snapshot May 31, 2012
  Average List Price Median List Price Average Days On Market
Santa Clara County, CA
Single Family under $1M $615,884 $608,000 46
Single Family over $1M $2,425,837 $1,799,950 53
Condo/Townhome under $600K $376,989 $379,000 45
Condo/Townhome over $600K $809,957 $729,000 42
San Mateo County, CA
Single Family under $1M $645,934 $650,000 49
Single Family over $1M $3,879,677 $2,295,000 71
Condo/Townhome under $600K $418,477 $445,000 52
Condo/Townhome over $600K $908,239 $785,000 73
Santa Cruz County, CA
Single Family under $1M $598,361 $624,900 73
Single Family over $1M $2,134,907 $1,649,000 101
Condo/Townhome under $600K $338,777 $299,000 129
Condo/Townhome over $600K $904,200 $748,000 96
Monterey County, CA
Single Family under $1M $511,519 $469,000 78
Single Family over $1M $3,197,835 $2,249,000 121
Condo/Townhome under $600K $353,144 $375,000 82
Condo/Townhome over $600K $882,316 $825,000 85
Alameda County, CA
Single Family under $1M $476,432 $450,000 58
Single Family over $1M $1,818,848 $1,400,000 69
Condo/Townhome under $600K $293,270 $273,100 63
Condo/Townhome over $600K $778,781 $720,000 46
Contra Costa County, CA
Single Family under $1M $429,936 $350,000 57
Single Family over $1M $2,031,242 $1,575,000 93
Condo/Townhome under $600K $229,259 $185,000 62
Condo/Townhome over $600K N/A** N/A** N/A**
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