The Wilkas Group » Hillsborough CA market report

Hillsborough CA Market Report – May 2011

lenorewilkas — Tue, 21 Jun 2011 01:01:23 +0000

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.

Last week there were 78 houses for sale in Hillsborough. Yes that number is different than my first number because the top chart shows May numbers and this shows June numbers along with everything still for sale from earlier. That number has been pretty flat for a while and so have the median listing price at $3.3 Million dollars. Of course you get a lot for that kind of money. You get at least a half acre and a large home with top quality construction and fine appointments.

Here’s a really interesting chart. It’s the Market Action chart showing how the market is doing. If you still think we’re at the bottom of the market because that’s what the Chase-Shiller report says, think again. We’re not. Chase-Shiller is at least 3 months behind the real market. They also aren’t local. Keep in mind that there are only 3872 homes in Hillsborough and of those only 78 are on the market. Not a huge supply…… Oh, and yes, the market hit bottom in 2010 in Hillsborough.

If you are interested in buying in Hillsborough, here’s what’s for sale. We’d be happy to assist you in finding your dream home. Just contact us above with the “Contact Us” tab.

Showing properties 1 - 5 of 39. See more city of Hillsborough real estate.
(all data current as of 2/12/2012)

$2,380,000 : 1125 Bromfield Rd, Hillsborough

3 beds, 2 full baths

Home size: 2,822 sq ft

Lot size: 19,200 sq ft
$5,495,000 : 145 Fallen Leaf Dr, Hillsborough

5 beds, 5 full, 1 part baths

Home size: 6,500 sq ft

Lot size: 36,630 sq ft
$15,750,000 : 925 Seabury Rd, Hillsborough

6 beds, 9 full, 2 part baths

Home size: 14,250 sq ft

Lot size: 1.27 ac
$5,580,000 : 820 Chiltern Rd, Hillsborough

7 beds, 6 full, 1 part baths

Home size: 7,870 sq ft

Lot size: 1.13 ac
$4,900,000 : 15 Tiptoe Ln, Hillsborough

7 beds, 7 full, 1 part baths

Home size: 9,550 sq ft

Lot size: 22,950 sq ft

Listing information deemed reliable but not guaranteed. Read full disclaimer.

April 2011 Market Report: Hillsborough CA

lenorewilkas — Tue, 10 May 2011 16:53:29 +0000

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. Therefore, Hillsborough California, zip code 94010 (which is also shared with Burlingame) has more homes for sale and fewer sales taking place. With a median price of $3.2 million there is much to select from if Hillsborough CA is your choice for a town to call home.

We just haven’t seen as much movement in the market in Hillsborough as we’ve seen in Burlingame. But, we’re talking twice the money and twice the house.

Here’s what’s taken place the first part of this year with the data from the MLS. We are seeing more and more listings, which is quite normal for this time of the year and with 25 homes pending close of escrow, May should be a great month in real estate for Hillsborough. This is the perfect example of why all real estate is local, local, local and why you can’t believe what you read in the national newspapers. For that matter, even the local dailies aren’t really reporting what’s going on in San Mateo County when they say the average price has dropped. Again.

Here’s what’s on the market for Hillsborough, CA today. If you want to see something, give us a call or drop us an email. This real estate market is heating up and we expect to still see some good buys. What we don’t anticipate seeing are many bank owned properties in Hillsborough so if you’re searching for one, perhaps you’ll have better luck buying a short sale or, heaven forbid, a regular sale! The market has corrected as much as it will and now we are seeing prices beginning to rise. What are you waiting for?

Showing properties 1 - 30 of 39. See more city of Hillsborough real estate.
(all data current as of 2/12/2012)

$2,380,000 : 1125 Bromfield Rd, Hillsborough

3 beds, 2 full baths

Home size: 2,822 sq ft

Lot size: 19,200 sq ft
$5,495,000 : 145 Fallen Leaf Dr, Hillsborough

5 beds, 5 full, 1 part baths

Home size: 6,500 sq ft

Lot size: 36,630 sq ft
$15,750,000 : 925 Seabury Rd, Hillsborough

6 beds, 9 full, 2 part baths

Home size: 14,250 sq ft

Lot size: 1.27 ac
$5,580,000 : 820 Chiltern Rd, Hillsborough

7 beds, 6 full, 1 part baths

Home size: 7,870 sq ft

Lot size: 1.13 ac
$4,900,000 : 15 Tiptoe Ln, Hillsborough

7 beds, 7 full, 1 part baths

Home size: 9,550 sq ft

Lot size: 22,950 sq ft
$1,398,000 : 1035 Tournament Dr, Hillsborough

5 beds, 5 full, 2 part baths

Home size: 4,850 sq ft

Lot size: 26,350 sq ft
$4,280,000 : 115 Glengarry Wy, Hillsborough

5 beds, 5 full, 1 part baths

Home size: 4,992 sq ft

Lot size: 22,284 sq ft
$3,700,000 : 80 Tobin Clark Dr, Hillsborough

4 beds, 3 full, 1 part baths

Home size: 3,896 sq ft

Lot size: 24,500 sq ft
$2,299,000 : 2370 Skyfarm Dr, Hillsborough

4 beds, 2 full, 1 part baths

Home size: 2,930 sq ft

Lot size: 22,638 sq ft
$6,195,000 : 1255 La Canada Rd, Hillsborough

5 beds, 6 full, 1 part baths

Home size: 8,615 sq ft

Lot size: 33,236 sq ft
$29,000,000 : 40 Verbalee Ln, Hillsborough

12 beds, 12 full, 3 part baths

Home size: 35,000 sq ft

Lot size: 5.91 ac
$4,495,000 : 355 Sierra Dr, Hillsborough

5 beds, 4 full, 1 part baths

Home size: 6,212 sq ft

Lot size: 27,834 sq ft
$29,000,000 : 40 Verbalee Ln, Hillsborough

12 beds, 12 full, 3 part baths

Home size: 35,000 sq ft

Lot size: 5 sq ft
$4,899,000 : 632 Fairway Ci, Hillsborough

4 beds, 6 full baths

Home size: 3,680 sq ft

Lot size: 17,323 sq ft
$2,979,000 : 65 Verbalee Ln, Hillsborough

6 beds, 4 full, 1 part baths

Home size: 4,500 sq ft

Lot size: 33,540 sq ft
$7,900,000 : 38 Lemon Ct, Hillsborough

6 beds, 6 full, 2 part baths

Home size: 7,821 sq ft

Lot size: 32,760 sq ft
$3,998,000 : 5 Santa Maria Ln, Hillsborough

6 beds, 4 full, 1 part baths

Home size: 4,860 sq ft

Lot size: 30,030 sq ft
$7,200,000 : 1952 Forest View Av, Hillsborough

7 beds, 6 full, 2 part baths

Home size: 5,180 sq ft

Lot size: 1.41 ac
$3,295,000 : 110 Roblar Av, Hillsborough

3 beds, 2 full, 1 part baths

Home size: 3,870 sq ft

Lot size: 11,025 sq ft
$14,500,000 : 3115 Ralston Av, Hillsborough

6 beds, 7 full, 3 part baths

Home size: 12,900 sq ft

Lot size: 1.79 ac
$7,990,000 : 101 Tiptoe Ln, Hillsborough

6 beds, 6 full, 1 part baths

Home size: 7,456 sq ft

Lot size: 4 sq ft
$4,880,000 : 7 Scott Ct, Hillsborough

6 beds, 5 full, 1 part baths

Home size: 7,456 sq ft

Lot size: 1.00 ac
$3,188,000 : 2630 Skyfarm Dr, Hillsborough

4 beds, 3 full, 1 part baths

Home size: 5,950 sq ft

Lot size: 1.12 ac
$1,850,000 : 761 El Cerrito Av, Hillsborough

4 beds, 3 full, 1 part baths

Home size: 3,160 sq ft

Lot size: 22,950 sq ft
$2,480,000 : 1020 Crystal Springs Rd, Hillsborough

4 beds, 4 full, 1 part baths

Home size: 5,880 sq ft

Lot size: 2.80 ac
$2,688,000 : 30 Terrier Pl, Hillsborough

5 beds, 5 full, 2 part baths

Home size: 4,597 sq ft

Lot size: 1.00 ac
$13,200,000 : 1868 Floribunda Av, Hillsborough

5 beds, 8 full, 2 part baths

Home size: 16,028 sq ft

Lot size: 2.34 ac
$3,998,000 : 50 Verbalee Ln, Hillsborough

6 beds, 6 full, 2 part baths

Home size: 9,000 sq ft

Lot size: 1.14 ac
$2,980,000 : 1155 Tournament Dr, Hillsborough

5 beds, 4 full, 1 part baths

Home size: 4,098 sq ft

Lot size: 24,327 sq ft
$6,200,000 : 812 Irwin Dr, Hillsborough

5 beds, 5 full, 1 part baths

Home size: 6,817 sq ft

Lot size: 1.00 ac

Listing information deemed reliable but not guaranteed. Read full disclaimer.

How’s the Market in Hillsborough CA 03.08.2011?

lenorewilkas — Tue, 08 Mar 2011 21:02:37 +0000

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. Some of the reasons people want to live in Hillsborough are because of location – it’s near SFO and not too far to Silicon Valley or San Francisco. The schools are outstanding. The weather is almost perfect. It gives a feeling of being in a forest with trees everywhere, yet you’re neat everything. What’s not to like?

Here’s the snapshot of the market for Hillsborough since the beginning of the year. Like the other communities on the Peninsula, if a buyer is taking out a loan the time needed to close escrow is longer today which is why the number of closed escrows seems low. But the good news is there are lenders out there who will write loans up to $2 million dollars. We didn’t have that last year.

Here’s what’s for sale in Hillsborough today. If you’d like to view one of these in person please let us know and we’re here to assist you.

Showing properties 1 - 39 of 39. See more Hillsborough homes for sale.
(all data current as of 2/12/2012)

$2,380,000 : 1125 Bromfield Rd, Hillsborough

3 beds, 2 full baths

Home size: 2,822 sq ft

Lot size: 19,200 sq ft
$5,495,000 : 145 Fallen Leaf Dr, Hillsborough

5 beds, 5 full, 1 part baths

Home size: 6,500 sq ft

Lot size: 36,630 sq ft
$15,750,000 : 925 Seabury Rd, Hillsborough

6 beds, 9 full, 2 part baths

Home size: 14,250 sq ft

Lot size: 1.27 ac
$5,580,000 : 820 Chiltern Rd, Hillsborough

7 beds, 6 full, 1 part baths

Home size: 7,870 sq ft

Lot size: 1.13 ac
$4,900,000 : 15 Tiptoe Ln, Hillsborough

7 beds, 7 full, 1 part baths

Home size: 9,550 sq ft

Lot size: 22,950 sq ft
$1,398,000 : 1035 Tournament Dr, Hillsborough

5 beds, 5 full, 2 part baths

Home size: 4,850 sq ft

Lot size: 26,350 sq ft
$4,280,000 : 115 Glengarry Wy, Hillsborough

5 beds, 5 full, 1 part baths

Home size: 4,992 sq ft

Lot size: 22,284 sq ft
$3,700,000 : 80 Tobin Clark Dr, Hillsborough

4 beds, 3 full, 1 part baths

Home size: 3,896 sq ft

Lot size: 24,500 sq ft
$2,299,000 : 2370 Skyfarm Dr, Hillsborough

4 beds, 2 full, 1 part baths

Home size: 2,930 sq ft

Lot size: 22,638 sq ft
$6,195,000 : 1255 La Canada Rd, Hillsborough

5 beds, 6 full, 1 part baths

Home size: 8,615 sq ft

Lot size: 33,236 sq ft
$29,000,000 : 40 Verbalee Ln, Hillsborough

12 beds, 12 full, 3 part baths

Home size: 35,000 sq ft

Lot size: 5.91 ac
$4,495,000 : 355 Sierra Dr, Hillsborough

5 beds, 4 full, 1 part baths

Home size: 6,212 sq ft

Lot size: 27,834 sq ft
$29,000,000 : 40 Verbalee Ln, Hillsborough

12 beds, 12 full, 3 part baths

Home size: 35,000 sq ft

Lot size: 5 sq ft
$4,899,000 : 632 Fairway Ci, Hillsborough

4 beds, 6 full baths

Home size: 3,680 sq ft

Lot size: 17,323 sq ft
$2,979,000 : 65 Verbalee Ln, Hillsborough

6 beds, 4 full, 1 part baths

Home size: 4,500 sq ft

Lot size: 33,540 sq ft
$7,900,000 : 38 Lemon Ct, Hillsborough

6 beds, 6 full, 2 part baths

Home size: 7,821 sq ft

Lot size: 32,760 sq ft
$3,998,000 : 5 Santa Maria Ln, Hillsborough

6 beds, 4 full, 1 part baths

Home size: 4,860 sq ft

Lot size: 30,030 sq ft
$7,200,000 : 1952 Forest View Av, Hillsborough

7 beds, 6 full, 2 part baths

Home size: 5,180 sq ft

Lot size: 1.41 ac
$3,295,000 : 110 Roblar Av, Hillsborough

3 beds, 2 full, 1 part baths

Home size: 3,870 sq ft

Lot size: 11,025 sq ft
$14,500,000 : 3115 Ralston Av, Hillsborough

6 beds, 7 full, 3 part baths

Home size: 12,900 sq ft

Lot size: 1.79 ac
$7,990,000 : 101 Tiptoe Ln, Hillsborough

6 beds, 6 full, 1 part baths

Home size: 7,456 sq ft

Lot size: 4 sq ft
$4,880,000 : 7 Scott Ct, Hillsborough

6 beds, 5 full, 1 part baths

Home size: 7,456 sq ft

Lot size: 1.00 ac
$3,188,000 : 2630 Skyfarm Dr, Hillsborough

4 beds, 3 full, 1 part baths

Home size: 5,950 sq ft

Lot size: 1.12 ac
$1,850,000 : 761 El Cerrito Av, Hillsborough

4 beds, 3 full, 1 part baths

Home size: 3,160 sq ft

Lot size: 22,950 sq ft
$2,480,000 : 1020 Crystal Springs Rd, Hillsborough

4 beds, 4 full, 1 part baths

Home size: 5,880 sq ft

Lot size: 2.80 ac
$2,688,000 : 30 Terrier Pl, Hillsborough

5 beds, 5 full, 2 part baths

Home size: 4,597 sq ft

Lot size: 1.00 ac
$13,200,000 : 1868 Floribunda Av, Hillsborough

5 beds, 8 full, 2 part baths

Home size: 16,028 sq ft

Lot size: 2.34 ac
$3,998,000 : 50 Verbalee Ln, Hillsborough

6 beds, 6 full, 2 part baths

Home size: 9,000 sq ft

Lot size: 1.14 ac
$2,980,000 : 1155 Tournament Dr, Hillsborough

5 beds, 4 full, 1 part baths

Home size: 4,098 sq ft

Lot size: 24,327 sq ft
$6,200,000 : 812 Irwin Dr, Hillsborough

5 beds, 5 full, 1 part baths

Home size: 6,817 sq ft

Lot size: 1.00 ac
$2,850,000 : 1508 Black Mountain Rd, Hillsborough

4 beds, 3 full, 1 part baths

Home size: 3,170 sq ft

Lot size: 17,400 sq ft
$2,998,000 : 25 Orange Ct, Hillsborough

5 beds, 5 full baths

Home size: 4,700 sq ft

Lot size: 21,920 sq ft
$43,888,000 : 835 Chiltern Rd, Hillsborough

6 beds, 9 full, 3 part baths

Home size: 38,849 sq ft

Lot size: 6.23 ac
$5,990,000 : 168 Tobin Clark Dr, Hillsborough

5 beds, 5 full, 1 part baths

Home size: 7,380 sq ft

Lot size: 1 sq ft
$3,150,000 : 6945 Skyline Bl, Hillsborough

4 beds, 4 full, 1 part baths

Home size: 5,120 sq ft

Lot size: 26,700 sq ft
$1,579,500 : 40 Shady Ln, Hillsborough

4 beds, 3 full, 1 part baths

Home size: 2,970 sq ft

Lot size: 16,618 sq ft
$4,680,000 : 2770 Churchill Dr, Hillsborough

6 beds, 5 full, 1 part baths

Home size: 6,727 sq ft

Lot size: 36,309 sq ft
$5,995,000 : 790 El Cerrito Av, Hillsborough

6 beds, 7 full, 1 part baths

Home size: 7,344 sq ft

Lot size: 40,597 sq ft
$24,995,000 : 350 W Santa Inez Av, Hillsborough

8 beds, 10 full, 2 part baths

Home size: 18,000 sq ft

Lot size: 3 sq ft

Listing information deemed reliable but not guaranteed. Read full disclaimer.

How’s the Market in Hillsborough CA 02.14.11?

lenorewilkas — Mon, 14 Feb 2011 15:23:16 +0000

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. We have been blessed with a pretty safe market. We are seeing homes in default because of job loss, income reduction, or both. The banks have foreclosed on many homes in Hillsborough and left them vacant because they’re waiting for the market to recover. That might not be a good idea if what we’re all reading is true and 2011 will be a record year for our Fantasy Island to see defaults and foreclosures.

Let’s look at the market results for January 2011 for Hillsborough CA. The average price for the homes for sale in January was $4,609,177. There were 40 homes listed, 24 pending sale under contract and only 1 sold. January is a quiet month for real estate around here so this isn’t surprising. We’ll be watching the market as it warms up to compare it with earlier months in this year.

Here are the current listings for Hillsborough CA. If you see something you’d like to learn more about, call us at 650-696-2920.

Showing properties 1 - 30 of 39. See more city of Hillsborough real estate.
(all data current as of 2/12/2012)

$2,380,000 : 1125 Bromfield Rd, Hillsborough

3 beds, 2 full baths

Home size: 2,822 sq ft

Lot size: 19,200 sq ft
$5,495,000 : 145 Fallen Leaf Dr, Hillsborough

5 beds, 5 full, 1 part baths

Home size: 6,500 sq ft

Lot size: 36,630 sq ft
$15,750,000 : 925 Seabury Rd, Hillsborough

6 beds, 9 full, 2 part baths

Home size: 14,250 sq ft

Lot size: 1.27 ac
$5,580,000 : 820 Chiltern Rd, Hillsborough

7 beds, 6 full, 1 part baths

Home size: 7,870 sq ft

Lot size: 1.13 ac
$4,900,000 : 15 Tiptoe Ln, Hillsborough

7 beds, 7 full, 1 part baths

Home size: 9,550 sq ft

Lot size: 22,950 sq ft
$1,398,000 : 1035 Tournament Dr, Hillsborough

5 beds, 5 full, 2 part baths

Home size: 4,850 sq ft

Lot size: 26,350 sq ft
$4,280,000 : 115 Glengarry Wy, Hillsborough

5 beds, 5 full, 1 part baths

Home size: 4,992 sq ft

Lot size: 22,284 sq ft
$3,700,000 : 80 Tobin Clark Dr, Hillsborough

4 beds, 3 full, 1 part baths

Home size: 3,896 sq ft

Lot size: 24,500 sq ft
$2,299,000 : 2370 Skyfarm Dr, Hillsborough

4 beds, 2 full, 1 part baths

Home size: 2,930 sq ft

Lot size: 22,638 sq ft
$6,195,000 : 1255 La Canada Rd, Hillsborough

5 beds, 6 full, 1 part baths

Home size: 8,615 sq ft

Lot size: 33,236 sq ft
$29,000,000 : 40 Verbalee Ln, Hillsborough

12 beds, 12 full, 3 part baths

Home size: 35,000 sq ft

Lot size: 5.91 ac
$4,495,000 : 355 Sierra Dr, Hillsborough

5 beds, 4 full, 1 part baths

Home size: 6,212 sq ft

Lot size: 27,834 sq ft
$29,000,000 : 40 Verbalee Ln, Hillsborough

12 beds, 12 full, 3 part baths

Home size: 35,000 sq ft

Lot size: 5 sq ft
$4,899,000 : 632 Fairway Ci, Hillsborough

4 beds, 6 full baths

Home size: 3,680 sq ft

Lot size: 17,323 sq ft
$2,979,000 : 65 Verbalee Ln, Hillsborough

6 beds, 4 full, 1 part baths

Home size: 4,500 sq ft

Lot size: 33,540 sq ft
$7,900,000 : 38 Lemon Ct, Hillsborough

6 beds, 6 full, 2 part baths

Home size: 7,821 sq ft

Lot size: 32,760 sq ft
$3,998,000 : 5 Santa Maria Ln, Hillsborough

6 beds, 4 full, 1 part baths

Home size: 4,860 sq ft

Lot size: 30,030 sq ft
$7,200,000 : 1952 Forest View Av, Hillsborough

7 beds, 6 full, 2 part baths

Home size: 5,180 sq ft

Lot size: 1.41 ac
$3,295,000 : 110 Roblar Av, Hillsborough

3 beds, 2 full, 1 part baths

Home size: 3,870 sq ft

Lot size: 11,025 sq ft
$14,500,000 : 3115 Ralston Av, Hillsborough

6 beds, 7 full, 3 part baths

Home size: 12,900 sq ft

Lot size: 1.79 ac
$7,990,000 : 101 Tiptoe Ln, Hillsborough

6 beds, 6 full, 1 part baths

Home size: 7,456 sq ft

Lot size: 4 sq ft
$4,880,000 : 7 Scott Ct, Hillsborough

6 beds, 5 full, 1 part baths

Home size: 7,456 sq ft

Lot size: 1.00 ac
$3,188,000 : 2630 Skyfarm Dr, Hillsborough

4 beds, 3 full, 1 part baths

Home size: 5,950 sq ft

Lot size: 1.12 ac
$1,850,000 : 761 El Cerrito Av, Hillsborough

4 beds, 3 full, 1 part baths

Home size: 3,160 sq ft

Lot size: 22,950 sq ft
$2,480,000 : 1020 Crystal Springs Rd, Hillsborough

4 beds, 4 full, 1 part baths

Home size: 5,880 sq ft

Lot size: 2.80 ac
$2,688,000 : 30 Terrier Pl, Hillsborough

5 beds, 5 full, 2 part baths

Home size: 4,597 sq ft

Lot size: 1.00 ac
$13,200,000 : 1868 Floribunda Av, Hillsborough

5 beds, 8 full, 2 part baths

Home size: 16,028 sq ft

Lot size: 2.34 ac
$3,998,000 : 50 Verbalee Ln, Hillsborough

6 beds, 6 full, 2 part baths

Home size: 9,000 sq ft

Lot size: 1.14 ac
$2,980,000 : 1155 Tournament Dr, Hillsborough

5 beds, 4 full, 1 part baths

Home size: 4,098 sq ft

Lot size: 24,327 sq ft
$6,200,000 : 812 Irwin Dr, Hillsborough

5 beds, 5 full, 1 part baths

Home size: 6,817 sq ft

Lot size: 1.00 ac

Listing information deemed reliable but not guaranteed. Read full disclaimer.

Market Comparisons 2010 v 2009: Burlingame, Hillsborough, San Mateo and Foster City CA

lenorewilkas — Wed, 15 Dec 2010 22:51:44 +0000

We are often asked “how’s the market doing?” when we see old clients. They’re curious about their own property values, and assume they’ve gone down substantially. Some time they’re right. Some times they’re wrong, they’re down but no where near the drop they thought. It depends. It depends on where they live. It depends on when they bought. It depends on many things.

Here’s a snapshot of the market over the past two years for our Four Cities. The charts are for Median Price versus Inventory for 2009 and 2010. It’s rather interesting to see this snapshot of how the market looked.

Here’s Burlingame. Median Price 2010 is in Black. Inventory 2010 is in Orange. Median Price 2009 is Green. Inventory 2009 is Blue. A picture is worth a thousand words and as you can see the 2010 inventory is a little higher than 2009 and the median price is down. This, friends, is a Burlingame Buyer’s Market.

Here’s Hillsborough. Colors are the same as Burlingame’s. 2010 Inventory is substantially higher than 2009 and median price has gone up, a little, but it’s higher than in 2009. What’s so fascinating about this chart is the dramatic drop in price that took place in 2009 versus 2010, where prices were somewhat stable. The big ticket homes in Hillsborough, the ones in the $10,000,000 and above range obviously weren’t sold within the past two years or the median price would have been affected. It’s a Buyer’s Market in Hillsborough California.

Here’s San Mateo. For comparison sake I’m only showing the single family homes. This is one interesting chart. San Mateo is the second largest city in San Mateo County. There are houses at the bottom of the price spectrum and houses as costly as many in Hillsborough. The Median Price in black for 2010 versus 2009 in green is dramatic and so is the inventory of houses for sale. In 2009, in blue, versus 2010, in orange. The selection of houses is large, and the price is down. It’s a Buyer’s Market in San Mateo.

Finally, let’s see Foster City. Like it’s sister cities, the Median Price was substantially lower in 2010 and Inventory substantially higher. It’s a Buyer’s Market in Foster City, too.

What you’re seeing are the actual market statistics for the four Mid-Peninsula we cover. 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.

Where’s the Market Trending? – Hillsborough, CA – 02.22.10

lenorewilkas — Mon, 22 Feb 2010 19:43:14 +0000

Hillsborough, CA is one of the 10 most expensive communities in this country. It is a beautiful town of about 9000 people with no commercial district. Shopping is done in Burlingame or Millbrae or San Mateo depending on the orientation of the property. The houses are large here. The lots are a minimum half acre, which in our area is large. Prices, of course, are large as well, and inventory, like the rest of our area is low. Some of reasons for this have to do with the difficulty of buyers getting jumbo-jumbo loans, and because of this we aren’t seeing many sales.

This is one of the nicest towns in all of California. Top schools, easy commutes north to the City or south to Silicon Valley make this a choice of senior executives at major corporations. Trees, views, the feeling of seclusion without being far from anything make Hillsborough CA a terrific choice for families.

Play around with the numbers at the top left of this chart to see the historical data on inventory versus price. It’s interesting to do this and gives a good picture of how few homes are for sale in Hillsborough in any one period of time. The chart goes back about 5 years, during the heat of the market bubble, and inventory was even lower than today!

If you’re interested in learning more about Hillsborough, CA, and would like more in-depth market data, please click the “Contact Us” button and we will be back to you by phone or email, your choice. 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.

Year-end Look at Hillsborough CA Market

lenorewilkas — Fri, 01 Jan 2010 18:06:03 +0000

The town of Hillsborough is one of the most expensive communities in the US. In some ways this makes Hillsborough CA insulated from the rest of the area. There are always a few buyer’s around and those buyer’s often have cash to buy so they aren’t handcuffed by lenders. This was the case first quarter 2009. Only 9 houses sold, but likely they sold for cash. Hillsborough CA is a beautiful community with trees, trees and more trees allowing for loads of privacy, large houses, large lots, excellent public schools and a great location close to our many tech industries. It’s the ultimate move up community and right now there are some great buys if you have the money. We haven’t seen very many short sales or REO’s, yet, but we do expect to see them in 2010. Is this how you hope to get into Hillsborough? Then use experienced agents to help you, such as the Wilkas Group. We’ve been through the minefields both short sales and bank owned properties have. We have helped buyer’s and seller’s through this minefields, too.

Charts are great but you need hard numbers to really understand them so take a look at the real picture of Hillsborough CA’s market this past year. We saw about 10% of the listings sell and it takes a long while for these listing to sell. The houses for sale 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.

Market Report for Hillsborough, CA – 11.24.09

lenorewilkas — Tue, 24 Nov 2009 23:16:07 +0000

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 a Tony area with trees, privacy and some fantastic views. It attracts people who want privacy, good public schools and caché. The inventory of houses for sale has decreased lately, perhaps because we’re at year’s end, or because the banks have finally opened up their lending portfolios and we’re seeing loans rather than moths flying out of them. The good news is we saw 8 sales.

Here’s the picture of the Hillsborough CA market during the past week. Come on back for more of this on a regular basis.

7-day stats for Single Family properties in HILLBOROUGH, CA as of November 20, 2009
Median List Price	$2,985,000	Average List Price	$4,013,196
Total Inventory	65	Price per Square Foot	$721
Average Home Size	4,328	Median Lot Size	27,878
Average # Beds	4.53	Average # Baths	4.13
Homes Absorbed	8	Newly Listed	1
Days on Market	179	Average Age	44

Median Price for homes in HILLSBOROUGH, CA All ZIP Codes as of November 20, 2009 is $2,985,000

Inventory for homes in HILLSBOROUGH, CA All ZIP Codes as of November 20, 2009 is 65

Average Days on Market for homes in HILLSBOROUGH, CA All ZIP Codes as of November 20, 2009 is 179

Median Market Action Index for homes in HILLSBOROUGH, CA All ZIP Codes as of November 20, 2009 is 22.49

Yes this chart does look rather chaotic but it shows how little has been sold this past year in Hillsborough. There were several weeks where nothing was sold and others where only one property changed hands.

Check Out Some Homes Currently For Sale In This Area

[listingpress citystate='Hillsborough,CA|' zipstate='' proptype='Single Family|' beds='0' baths='0' minprice='0' maxprice='0' features='' /]

Hillsborough Market Report – 06.15.09

lenorewilkas — Mon, 15 Jun 2009 23:44:46 +0000

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 are in our most coveted town, Hillsborough. The Median priced home was $3,395,000 and this puppy is 5 bedrooms, 4 baths, sits on a half acre and is about 49 years young. She’s likely had a complete facelift, like most of the grand dames of Hillsborough (just kidding).

Inventory has been climbing of late. In fact, quit dramatically by looking at the Altos Research chart above. There were 79 active listings last week and these have an average of 165 Days on the Market (DOM). Prices are holding. We’re only seeing 30% with decreased list price so either the seller’s are holding out for their price or the buyer’s are holding out for their price but either way, about 1/3 of all of these 79 listings are priced too high.

We are seeing loans for homes in these price ranges today but most of them require 30% down. We were told of one lender who as of this morning, would do a jumbo-jumbo for 20% down but that was this morning and with the volitility of loans right now, that might be gone already. So, Hillsborough prices remain high, high, high which is why Hillsborough is in the top 10 of the most expensive towns to live in today.

Looking at the market as a whole, dividing it into quarters or quartiles for this chart, it really makes no difference which quartile you’re in the average number of days on the market is pretty similar which isn’t always the case in our other neighboring communities. Inventory is even and sales are too.

Hillsborough is firmly in the Buyer’s Market sitting at 15. Were you trying to time the bottom of the market? Too bad. You missed it. If you want to live in Hillsborough this is the time to do it. We have historically low interest rates. We have 79 properties to choose from. Hillsborough has the top schools for San Mateo County. It has charm, it has beauty and it is close to SFO, the City, the Valley and the Coast. What’s not to love? At our office meeting this morning the discussion of what is going to happen to the money market was a big one. Most of us think interest will creep up the rest of this year. A year from now we could see 7% or more for interest. You’ve already missed the bottom for the Hillsborough market. What is keeping you from buying now? We’re here to help you. Click the “contact us” button on the left and we’ll respond. I promise.

Hillsborough’s Carolands, Remillard & Chateau Acres Market 3.26.09

lenorewilkas — Thu, 26 Mar 2009 23:26:51 +0000

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 School and this part of Hillsborough has the most traditional neighborhood feel.

Here’s what’s going on with this market right now.

Prices have held in this part of Hillsborough and we’ve only seen 1 withdrawn listing during the past 6 weeks. Now that Wells Fargo and the Bank of America are lending on jumbo-jumbo loans up to $3 million, we expect to see more sales and more listings in Hillsborough.