Burlingame Real Estate Market Update

 

Burlingame Train Station

Burlingame Train Station


I’m working statistics for a client interested in Burlingame real estate – and they’re interesting.  So why not share the effort. 

2007 had the lowest number of sales – 213 – as far back as the info is available – 1998.
 
So far this year Burlingame has had 125 sales.  To get to 213, 88 more houses will have to come on the market and sell by the end of the year. 
 
88 houses divided by the next 4 months will mean that 22 houses will have to come on and sell each month.  The average is 16 per month.  That indicates to me that the Burlingame market may become tighter – more of a sellers’ market.
 
Sellers’ market is defined as 6 months or less worth of inventory.  Right now we stand at 2.2 months inventory.  Bottom line:  the days it takes for a property to sell will decrease and/or prices will rise.
See, now wasn’t that interesting?
 
  Closed Sales Average Days to Sell Average Sales Price Median Sales Price % of List Price Receive
1998 242 39 612,234 555,000 99.88
 1999 338 46 716,126 656,000 100.84
 2000 303 34 923,003 840,000 105.10
 2001 255 51 924,638 815,000 97.36
 2002 284 42 929,723 836,500 100.22
 2003 293 39 1,001,088 903,000 98.58
 2004 312 26 1,177,340 1,097,500 102.23
 2005 276 23 1,323,554 1,250,000 103.64
 2006 266 39 1,406,502 1,300,000 100.30
 2007 213 37 1,475,120 1,352,000 101.09
           
           
  Closed Sales Average Days to Sell Average Sales Price Median Sales Price % of List Price Received
January 2008 8 69 1,117,375 1,069,500 95.38
February 2008 6 84 1,415,833 1,377,500 95.68
March 2008 17 36 1,568,294 1,310,000 99.10
April 2008 12 14 1,727,350 1,593,000 100.19
May 2008 22 35 1,465,881 1,325,000 99.15
June 2008 21 51 1,386,086 1,250,000 98.88
July 2008 26 29 1,279,917 1,206,400 99.96
August 2008 13 54 1,168,346 1,208,000 95.79

Got a San Mateo County real estate question?   Call me at 650.888.9268 or send me an email Vicki [at] CallVicki.com.  You can also subscribe to my blog feed by clicking here.

All the best,
Vicki Moore

Vicki Moore About Vicki Moore

Office:
RE/MAX Star Properties
282 Redwood Shores Parkway
Redwood Shores, CA 94065

By Phone:
650.888.9268

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