Here is Hillsborough’s market report for May 2011. Comparing the chart above with the first 4 months of the year we see one thing clearly and that is the number of homes for sale has climbed. We are officially in the summer sales season so this really isn’t unusual since most people buy and sell during this time of year. We homes for sale are priced higher and higher and one wonders why when we hear the news tell us the the average price for homes for sale has dropped dramatically in the US and of course that always add, in California, too. Need I remind you that all real estate is local. Buying and selling real estate is the best example of how economics works. Supply and demand will determine price and if you want to live in Hillsborough and send your children to those amazing schools you will pay.
Being the Crown Jewel of San Mateo County comes with benefits and negatives. The benefit is that it’s a beautiful and secluded community close to everything. The negatives are that the most expensive homes always take the most time to sell. The pool of buyers is smaller and not everyone is running around with 3 or 4 millions bucks in their bank account waiting for the perfect home to show up in the market place.
Hillsborough California is one of the most expensive and exclusive communities in the US. Prices have held pretty well while inventory, the number of homes on the market, is low. This community has not seen many foreclosures, so if you’re waiting for the bargain of a lifetime, you missed the window of opportunity.
How’s the market? Same question, different city but the answer is always the same, because it always depends on why you’re asking the question. If you own, is it because you want to sell, or need information for applying for a property tax adjustment? If you are considering selling and are curious if this is the right time to sell, yes it is because you may feel you’re selling low but you’ll be buying low, too. Are you an investor? Your reasons are always different. The market is seeing a recovery
It’s a Buyer’s Market and there are a lot of great properties for sale. In fact, as the year winds to an end, each one of these houses is truly on sale. People listing homes this time of the year want to sell and are willing to negotiate. Negotiation is the key word today. What the asking price is, isn’t generally what the selling price is.
The Wilkas Group is well versed in this market and it would be our pleasure to assist you with your real estate needs be it buying or selling. If you are experiencing financial hardship and need to sell short, we are specialists in this type of transaction.
We saw about 10% of the listings sell and it takes a long while for the listing to sell. The listings are seeing price reductions in most, but not all cases. The difference between the Median list price and the Median sold price is 23% so someone hasn’t figured it out yet and that’s the seller. Be patient and you’ll get your deal but be sure your house has been sold before even making an offer in today’s market.
The town of Hillsborough, California had 65 listings last week ranging from a low of $989,010 for a house that is ready to be torn down so it’s really only land value, to a high of $15,899,000 for a mansion. The average length of time a house is listed today is 165 days. Hillsborough is what some might call
Last week the Town on Hillsborough, CA has 79 homes for sale. Prices ran from an unbelievable low of $999,999 (yes, it is a Bank Owned property so run fast before it’s gone) to a high of $18,000,000. And yes, there is a vast difference between these two properties from size to acreage but both…Read More »
The Carolands, Remillard & Chateau Acres areas of Hillsborough sit up in the high hills just below 280. Some homes have magnificent views of the bay from that perspective, others have canyon views and then again, most just have neighborhood views, which are very nice. All of the homes in this area feed to West…Read More »
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