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.
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