Burlingame’s Market Update

The City of Burlingame, like it’s northern sister Millbrae, is also a Cool Buyer’s market.  With 88 houses for sale and a median price of $1,495,000 one might think prices would be dropping, but alas it’s no such thing.  The prices have again remained at the same level they’ve been at for several weeks.  The median price, which is high by normal standards, is well below what it was in early 2006, so by that benchmark there are bargains to be had.

Burlingame offers tops schools, easy commutes to San Francisco or the Silicon Valley.  Sharing the same
zip code as Hillsborough, 94010, it is known as The City of Trees with tree lined streets , charming homes and mild weather.

Like Millbrae, we’ve seen about a third of the homes for sale reduce their asking price.  If you’re
one of the many who wants to live in Burlingame this is a great time to buy your next home.

The Cool Buyer’s Market means that the inventory of homes for sale is trending upward and the Market
Action is trending down. The number of days on the market is trending down but overall, conditions are weakening a bit.

The chart on the right shows you how prices have stayed pretty consistent for the past 12 months.  The
orange line is the median price.

The Market Action Index gives you an indication of whether it’s a Buyer’s or Seller’s Market.  The drop into a Buyer’s Market is relatively new, only occurring within the past couple of weeks.

Our data comes from Altos Research and if you’d like a more in-depth report on Burlingame, pop us an email at info@wilkasgroup.com and we will be happy to provide one.

The lenders on our team tell me that  there is plenty of money available for loans.  Homes  at the
right price will sell quickly.  If you want to move up to Burlingame it’s the right time.  Call us.