The Wilkas Group » Hillsborough CA real estate

Market Report – Hillsborough CA – 10.03.11

lenorewilkas — Mon, 03 Oct 2011 18:34:34 +0000

We’re entering the end of 2011 as Fourth Quarter started over the weekend. What does this mean for real estate? We begin to see prices soften for those who must sell. We see homes come off the market as we approach Thanksgiving and the holidays as most people do not want to be bothered showing their home during intense family time.

There’s a good selection of homes in Hillsborough today and with Hillsborough offering some of the best public schools in California, if you want to move your children’s school this might be the way to do it.

Hillsborough offers large lots, large homes, easy commutes north or south and close proximity to SFO. It’s an executive’s dream location.

Here’s what going on in Hillsborough CA’s market now.

90-day stats for Single Family properties in HILLSBOROUGH, CA as of February 3, 2012
Median List Price:	$3,268,795	Average List Price:	$6,194,545
Total Inventory:	40	Price per Square Foot:	$764
Average Home Size:	5,018	Median Lot Size:	32,494
Average # Beds:	5.00	Average # Baths:	5.23
Homes Absorbed:	3	Newly Listed:	3
Days on Market:	207	Average Age:	41

If you’re thinking of moving to Hillsborough, these are the homes for sale today. If you’re not represented by an agent we’d be happy to assist you in seeing any of these fine homes. Just fill out the contact form and we will respond.

Showing properties 1 - 27 of 27. 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
$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
$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
$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
$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
$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
$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
$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
$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
$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

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

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 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.

About Hillsborough California

lenorewilkas — Fri, 02 Jul 2010 00:41:33 +0000

The town of Hillsborough, formed in 1910, and named by William Davis Merry Howard because he originally came from Hillsboro New Hampshire. The town sits on land that was part of Rancho San Mateo, Howard’s vast property purchased from the Mexican Governor, Pio Pico in 1846. The Rancho was so large that after Howard’s death, the land was parceled into plots large enough to serve as estates for wealthy San Francisco businessmen who wanted to live “in the country” and commute to the city. Members of the Burlingame Country Club decided that the Village of Burlingame and San Mateo were becoming too commercial and they didn’t want to pay for the necessary infrastructure needed for growing towns so they formed the town of Hillsborough.

Four of the original mansions still stand today. Harriet Pullman Carolan, the heiress to the Pullman Railway Car fortune, built Carolands and it as one of the largest private residences in the United States today. It’s often opened for fundraising events. William Randolph Hearst built the “Western White House” within the town. It’s a mansion of similar structure to his Heart Castle, and is currently privately owned.

William Crocker, grandson of Charles Crocker, built Skyfarm in 1930. Today it houses Nueva Day School. Crystal Springs Uplands School, originally the Uplands mansion, was a gift of Templeton Crocker to his fiancée Helene Irwine , heiress to the C&H Sugar fortune in 1912.

Today, Hillsborough is still renowned for its wealth and diversity. It’s currently number 25 in Forbes most expensive zip codes ranking. The trees and wooded hillsides add to the towns beauty. The three elementary schools and one intermediate school score among the highest scoring in the state. The town sits just above El Camino Real and below Highway 280. Most homes are in the hills and many have beautiful views of the bay, San Francisco and the canyons.

Hillsborough has no downtown, no industry, and only one park. When the town incorporated in 1910, they passed zoning laws forbidding any business and practically none exist there even today. There is one golf course west of Highway 280 abutting the Crystal Springs Reservoir, a racquet club and the two private schools. Residents are orientated to Burlingame or San Mateo for most of their shopping and recreational activities. Hillsborough is truly the bedroom community of the Peninsula. Close the the bio-tech capital of the world, South San Francisco, major financial corporations in San Francisco and Silicon Valley residents tend to commute to their offices or travel for business through SFO.

Search homes in Hillsborough.

San Mateo Area Inventory is Climbing & Prices Are Dropping

lenorewilkas — Sat, 20 Jun 2009 00:18:55 +0000

The saying a picture tells a thousand words is what today’s blog is all about. I thought it would be interesting to compare the housing inventory versus the housing prices for Burlingame, Hillsborough, San Mateo and Foster City. The charts show one year of data.

What most of these have in common is a drop in Median Price over the past few months and an increase in Inventory, or in other words, in the number of listings. Are we beginning to see pre-short sale inventory coming on the market? My guess is yes. San Mateo is an exception and that may be because it has the largest number of homes for sale across the widest price expanse. If you are interested in getting more detailed information about one of these cities, let me know. I did not break down San Mateo by zip code or break out condos or townhouses from San Mateo or Foster City. I can provide that data for you should you want more. Just ask me.

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 CA Market Report – 3.5.09

lenorewilkas — Fri, 06 Mar 2009 01:15:12 +0000

Market Trends

Last week, Hillsborough has 51 houses for sale and only saw 1 sale. Believe it or not, this is a decrease from recent weeks. The Average price for a home on the market last week was $4,499,752. The Median price was $3,775,000. We saw the least expensive home listed for $1,994,900 and the most expensive at $18,000,000. Obviously, you do get a lot of house for the money in Hillsborough, California. This median priced house will have 5 bedrooms, 4 bathrooms, sit on at least a half acre of wooded land and be about 49 years old. It’s about 4400 square feet in size. It will take that median priced home 163 days to sell.

If you care about price per square foot, and most don’t unless you’re thinking of building, this house is about $849 each little foot. This house will likely have the nicest of everything: a newer kitchen with tip-top appliances, and fine finishes in cabinets and counters; bathrooms that are spa-like; large rooms and if you’re lucky some great views of the bay. Hillsborough also has one of the best public elementary school districts in the Bay Area, making the high cost of a home more affordable for those shelling out a lot of money to send several children to private schools (especially if you live in San Francisco).

Quartiles

Our research company divides markets into Quartiles. The most expensive quartile is One, the least expensive is Four. Quartile One has a median price of $6,900,000 and the largest of the homes on the market, also the youngest, and these homes sit on the most acreage and also take the longest to sell. As you can see the Average Days on the Market is considerably longer than the other Quartile, it’s 270 days. There are 12 houses for sale in Quartile 1, and nothing was sold. This Quartile takes the longest to sell because the market for buyers is significantly smaller than for other price points.

Quartile Two has a median price of $4,450,000. These are large homes sitting on lots closer to the acre size than the half acre minimum of Hillsborough. They, too, are sitting on the market a long time – 170 days, and there are 13 homes for sale in this Quartile. No sales took place last week. Both Quartile One and Two attract buyers who often pay all cash. I don’t think I need to go into what’s happened to those buyers. It’s the same things that’s happened to all of us. Our money has disappeared in the stock market decline.

Quartile Three is where the action is taking place in Hillsborough right now. The median price is $2,995,000, which is nothing to sneeze at, but we saw 2 new listings and 1 sale take place in this Quartile. If you own a home in this Quartile and are thinking of selling, you have the best chance of doing it and for the least number of days on the market, too.

Quartile Four seeing a median price of $2,250,000. Like Quartiles Two and Three, they all sit on good sized lots for our area, at least a half acre and perhaps more. The house itself will be smaller than the other Quartiles, with few bedrooms and baths but you still get the Hillsborough schools system, and if you are looking at buying anywhere around $2,000,000 I recommend Hillsborough over most any other community in San Mateo County if schools are important to you.

Median Prices

Hillsborough is interesting when it comes to the Median Price of homes. This chart shows a bottom price in the beginning of 2006 and once again in the middle of that year and from there on prices have kept going up, even today. One would think that prices would have dropped dramatically this year but they have not. Hillsborough hasn’t seen very many foreclosures which I beleive is why prices have held. Even though the jumbo-jumbo loan market has slowed to a trickle, money is still there for those people who qualify.

Market Action

The overall market for Hillsborough is a Buyers Market. Using our research company’s speak, it’s a ColdBuyers! Market. The red line sitting at 30 is where the market shifts from a Seller’s Market to a Buyer’s Market. We’ve been in that Buyer’s Market since mid 2007 but the seller’s in Hillsborough just haven’t quite gotten the message so they price high and are willing to sit a long time to get close to that price. Only 27% of the houses listed have seen a price reduction. These sellers are likely to relist the property if the listing agreement expires, too. They do want to sell but just not enough to negotiate a lot.

If you want to live in Hillsborough then be prepared to pay a high price for that desire. If you want more information about this report, or want to receive a copy of it in full detail call me at 650-696-2820. I am here to serve you and your real estate needs.