June 2009

For any gloom and doomers out there, I always like to report on DOM for well-priced, prime location homes, and the fact that they still SELL....FAST! There simply will never be enough supply for the demand of a rare property such as 132 Seville Way in San Mateo's Aragon, which just went pending with only 7 days on market. This home was priced at $1,750,000 for a 5 bed, 3 bath all-remodeled 2,980 sq. ft. layout. Part of the success of this sale was the perceived value of this price point, which would be closer to $1,900,000+ two or three ...

Two large newer Easton Addition homes in the $2M range have just gone pending, bringing the total inventory in the Easton Addition to 24 homes on the market. The average days on market for these active listings is 57 days right now. Of course, this is a robust backlog of homes. I can remember in seller's markets such as 2004-2006 the total number of homes available for sale in ALL of Burlingame being less than 24. (current number of single family homes for sale in ALL of Burlingame is 57) 1400 Carlos (list $1,995,000) and 1277 Balboa (list ...