Happy almost-Thanksgiving! I am encouraged by recent sales activity at multiple price points that should lead us into a busy and more confident spring. This week, 725 Hayne Road, Hillsborough (list $2,895,000) and 150 Newton, Burlingame Hills (pictured...list $2,995,000) have both gone into escrow. Hayne was a very unique architectural English Country home that had 42 days on market. 150 Newton was a brand new construction in the Spanish Revival style that was originally listed at $3,249,000 then reduced to $2,995,000.
We have also seen some strong recent sales activity in San Mateo's $850,000 - $1,000,000 price point for updated homes in sought-after locations. 144 30th Avenue was listed for $995,000, lasted just 11 days on market, and sold with over 5 overs received. 1414 Oak, a cute-as-a-button 2bd/1ba in the Baywood school area lasted just 11 days on the market, was listed at $850,000, and sold on November 11th. Houses like 1414 Oak really represent one of the best values on the Peninsula for a wide demographic base: phenomenal value for families with school-age children with access to San Mateo's highly rated Baywood Elementary...or a great flat walkable neighborhood for move-downs not far from town...or a traditional westside neighborhood feel 2 minutes from a new 24 Hour Fitness, and 2 minutes onto Highway 92 for the busy commuting executive... all under $1,000,0000. Another recent sale, 134 Chestnut Lane, an updated home in San Mateo's desirable and rarely available "Lanes" neighborhood (mostly cul-de-sacs adjacent to wonderful park for kids), was listed at $849,000 on November 6 and sold quickly with multiple offers.
All these sales are positive indicators for a release of pent-up demand, whereby qualified buyers (who have always been stable and qualified but waiting on the sidelines the last year and a half) are regaining confidence, ratcheting up their outlooks, and now re-entering a market that could become even more competitive by February/March.
Happy Turkey Day to all. Please stay on my Web site for more exciting changes and innovations coming soon...and as always, please feel free to drop me an email regarding your needs off-the-MLS. In the last month I have closed two non-MLS sales that were great success stories for both buyer and seller.
Cheers,
Geoffrey