The sizzling hot Hillsborough market means Days on Market are at an all time low, and many listings coming to market are snapped up within 10 days. Right now, the available inventory is at just 25 listings on MLS, a low for 2021 (and this includes the absurdly overpriced 1868 Floribunda listing that is being experimented with on the market at $58,000,000...so let's call it 24 listings). The high demand, matched with a tricky market for scale up/scale down, means there remains only a slow trickle on supply. Many longtime Hillsborough homeowners I speak with who may be considering a scale down as empty nesters, are daunted by the prospects of "scaling down" to a price point of four or five million in Burlingame or San Mateo Park. Thus, they may be taking longer than usual to list. Another segment of the Hillsborough market are those Hillsborough homeowners who may be looking to scale up, or upgrade, yet find no inventory in their price point of say $8M - $12M. Many are in that boat. Thus, their homes are slow to be listed on the market. Call it a backlog on both ends!
Recent strong Hillsborough real estate performances with 10 days or less on market include:
- PENDING: 1415 San Raymundo Listed $5,298,000 on Oct. 7 (my listing and pictured above)
- PENDING: 1025 Black Mountain Listed $5,250,000 on Oct. 8
- PENDING: 485 Barbara Listed $4,980,000 on Oct. 15
- PENDING: 835 Longview Listed $3,998,000 on Sept. 17
- PENDING: 1335 Marlborough Listed $3,850,000 on Sept. 20
- PENDING: 40 W Avondale Listed for $3,200,000 on Sept. 15