Hillsborough is always considered one of the most expensive communities in California and 2011 was no different than other times or any other years. Hillsborough’s 2011 Market Report shows that there were 134 sales of homes in 2011.
Hillsborough only has single family homes. There are no condos. No townhouses. Only large stately homes on large lots.
The least expensive home sold for $1,195,000. There was only one at that price, probably a bank owned in need of work, and who ever bought it got a steal of a price. The land value is probably more than that.
- 12 homes sold between $1,700,000 and $1,800,000.
- 9 homes sold between $1,600,000 and $1,700,000.
- 8 homes sold between $1,400,000 and $1,500,000.
- 14 sold between $1,800,000 and $2,000,000.
- 87 sales were above $2,000,000.
The average list price for 2011 Hillsborough California homes was $2,775,773 and the average sales price was $2,627,551. 91% of the listings sold at the original price. 93% sold at a reduced price and the average time on the market from listing to close of escrow was 73 days.
Does this tell you that our market is in distress? It sure doesn’t say that to me. Homes are selling under 90 days. Many places around the US would kill for statistics like this. If you want to live in Hillsborough California and enjoy the benefits of this community, you pay for it. Top schools. Top weather. Top location. Privacy. Close to everything. Can we show you some of these homes? Call us now and begin enjoying the Good Life in 2012!
Here’s what’s on the market in Hillsborough today.
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