Another recent handful of fast sales, and even some multiple offers, continue to indicate that buyers from last Fall are getting off the fence to take advantage of a buyers' market. The trend continues to demonstrate that realistically priced homes in top locations are still hot commodities, and being competed over by ready and willing buyers.
Here's some recent examples of such success stories:
HILLSBOROUGH:
- 30 St. Francis Rd., Hillsborough. Offered at $2,790,000. Sale Pending with multiple offers with only 18 days on market. Rarely available cul-de-sac in Lower South Hillsborough. Walking distance to downtown SM and South School.
- 265 Uplands Drive, Hillsborough. Offered at $2,955,000. Sale Pending with only 28 days on market.
- 858 Longview Road, Hillsborough. Offered at $2,380,000. Sale Pending with only 24 days on market.
- 809 Irwin Drive, Hillsborough. Transacted off market, closing for $5,300,000. After previously closing for $4,785,000 in January 2008. This original condition, ultimate location home was recently offered with plans for a total renovation.
- 318 Ascot, Hillsborough. This new listing is getting lots of attention listed at $2,895,000 when it previously sold in May of 2007 for $3,350,000. Most likely will be our next Hillsborough sale to report.
SAN MATEO:
- 253 Virginia, San Mateo's Baywood. Offered at $2,195,000 and sale pending (with 72 hour release clause, contingent on sale of buyer's property) with only 18 days on market. This is Baywood first $2,000,000+ sale since 2007. (this home previously sold in August of 2006 for $2,250,000)
- 219 Castilian, San Mateo's Aragon. Offered at $1,499,000 and sale pending with multiple offers and only 9 days on the market. (this home previously sold for $1,557,000 in 2005)
- 746 Nevada, San Mateo's Baywood Knolls. Offered at $1,395,000 and sale pending with multiple offers with only 12 days on the market. (this home previously sold for $1,175,000 in 2004)
BURLINGAME:
- 1491 Benito Avenue, Burlingame. Offered at $1,575,000, this 4 bed, 3 bath Easton Addition home is now sale pending with just 4 days on the market.
- 1308 Castillo Avenue, Burlingame. Offered at $1,095,000. This 3 beds, 1.5 bath Easton Addition home lasted just 5 days on the market, now sale pending.
- 1543 Drake Avenue, Burlingame. This is a new home by Otto Miller at the end of the Drake cul-de-sac. The home was listed at $2,500,000, and has just gone into escrow.
- 2895 Hillside Drive, Burlingame. Offered originally at $3,359,000 and then reduced to $3,149,000, this 5,000 sq. ft. imposing new home has just gone into escrow with 55 days on the market.
- I recently closed escrow on a Non-MLS "tear-down" listing I had on Vancouver Avenue that attracted 2 offers from builders and sold for over its $995,000 list price.