Burlingame CA 94010 – What’s going on in the Market?

Burlingame is the second most expensive community we service.  It’s a charming town, with a vibrant downtown filled with major retailers
seeking to reach the upper tier of the market.  The homes are generally older, mostly having been built between the 1920′s and 1950′s.  New construction only takes place by tearning down old but the new homes are designed to conform with the look and feel of the older homes.

Last week there were 40 homes on the market with the median list price of $1,491,500. This was likely a 4 bedroom 2 and one half bath home around 2100 sq. feet.  The lots in Burlingame are generally 6000 sq. feet.  The schools in Burlingame are tops whether it’s elementary school, intermediate school or Burlingame High School families want their children to attend them.

Burlingame CA

Prices have stayed pretty consistent in Burlingame but the average time on the market has increased to close to 4 months for some homes.  We are seeing price reductions in about half of all listings but Burlingame is
still considered a warm seller’s market.

Last week saw one new listing at $2,093,000 which is at the upper end of the homes for sale.  In the upper middle of homes the median price was $1,540,000 and we saw two new listings and one sale in this quartile.  The lower middle range has a median price of $1,374,500 where we saw four new listings and one sale.  The lower quartile of homes in Burlingame saw a median price of $944,000 with no sales but two new listings. These median prices have been pretty consistent the entire year.

Burlingame is a community in demand.  People enjoy living there.  It offers an easy commute into San Francisco and the northern portion of the Silicon Valley.  SFO is a hop, skip and a jump away.  Plus the town is serviced by CalTrain and is close to the BART station in
Millbrae.  The weather is consistently mild year round.

My charts come from Altos Research and if you would like more information please let us know.