Burlingame Market Update

Today I’m continuing the question I keep get about “What’s going on with the real estate market in San Mateo County?” with the city of Burlingame, 94010. This is the city where our office sits. It is often compared with Palo Alto in it’s charm and quality of life. Burlingame has top schools, charming homes, good weather, close proximity to SFO and a high median price for single family homes. The city is also celebrating its Centennial year. It has changed a great deal over the past 100 years, too, from a town drawing San Francisco families during the summer, to a place for servants to live who worked in the Hillsborough mansions, and now as a bustling community of its own today.

The median home price this past week was $1,498,500. There are many condos in Burlingame but few townhouses. The town is generally made up of single family homes. Altos Research tells me that the inventory is up, the days-on-market are trending lower. Prices have weakened in recent weeks from their high levels last year. It is sitting in the Seller’s Market zone but only slightly. The 90-day Market Action Index stands at 39, which indicates that demand is relatively strong but the available supply of new listings doesn’t get snapped up immediately.

Burlingame has an outstanding elementary school district and Burlingame High School is one of the best in the area.