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 years ago. We'll see where it closes....perhaps over asking.

Also in Aragon, 206 Seville Way was marked pending today with just 12 days on market. This was a 3 beds/2.5 baths of 2,229 sq. ft. priced at $1,249,000. Again, there was perceived value built into the list price: the value of simply getting into this location, with the benefit of classic Mediterranean styling, Aragon's inherent quality of life and school system in the $1.2s.

416 Avila Road in San Mateo's Aragon also went into escrow today after 69 days on market and one price drop. The home started at $1,649,000 and was reduced down to $1,575,000. This also had some nice sq. footage at 2,931 sq. ft. and Cape Cod curb appeal, but I think less yard than the $1.6s could support.

Moving to Burlingame's Easton Addition...good to get some inventory off the books, as the supply has swelled considerably there lately: 1439 Cortez has been marked pending after 119 days on market. This 3 year old 5-bedroom was originally priced at $2,349,000 and reduced to $2,175,000 at the time of the sale. 1441 Balboa Avenue has also just sold after 76 days on market. This was a fixer upper on a 6,000 sq. ft. Easton Addition lot priced at $1,050,000.