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.