How’s the Market – Hillsborough CA – 03.26.2012

Who has the best schools in our area?  If you said Hillsborough, you’d be correct and that’s why so many people aspire to move there.  The homes are large.  The lots are mostly a half acre or more, and the trees and views and ambience makes this one of the most coveted communities on the Peninsula.  Here’s a look at the market in Hillsborough California.

Just like the other communities around here there is a shortage of homes for sale.  Prices are up.  The median price for Hillsborough is almost $4 million.  Obviously you get a lot for those dollars as an entry level home in Hillsborough runs almost $2 million today.

Inventory, the number of homes for sale at any one time, is moderate.  The reason I say that is the town only has a population of 9200 people so there aren’t a lot of houses in the town as a whole, but there are about 55 for sale right now.

When you sell a home in the price range that Hillsborough runs it always takes a while in comparison to the local surrounding communities.  In comparison to past months, it’s taking much less time to sell a home in Hillsborough.

I really don’t like using the price per square foot chart much since these are generally the largest homes available in our area and always have the most square footage and largest lots so the price per square foot is always high.  Think in terms of replacement costs, and it’s not so bad.

Hillsborough is still a buyer’s market and will likely remain one for a long while.  Prices are very high and the pool of buyers is generally smaller than other surrounding communities.  Loans for these homes are still very favorable.

Here are some of the homes currently for sale in Hillsborough.  Should you see something here that you’d like to see in person please call us at six five zero, eight six seven, two nine zero nine and we’ll take you in to see them.

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Moving? Know the value of your home …