The Hillsborough Real Estate Market Surged Ahead with Peak Performance for Summer 2021. 62 Hillsborough homes closed escrow between May and August, with a whopping 42% of those selling over asking price! 26 out of 62 sales were sold over asking price, with an additional 8 sales selling at asking price. The Average Price Per Sq. Ft. for May - August Closed sales shot up to $1,350 per sq. ft. This represents over $100 per sq. ft. increase from the first four months of the year, and an increase of 11% from the 2020 average price per sq. ft. for closed sales of $1,213.
I was fortunate to close 4 Hillsborough sales in Summer 2021, ranging from a record-breaking new construction at $11,425,000 (interior pic above), to an eclectic vintage in Lower South at $3,750,000.
Where does it go from here? In the opinion of this expert, we are not far off from reaching the milestone of a $1,500 per sq. ft. average for Hillsborough sales. Sellers are leveraging optimum selling conditions as we speak. Robust demand is enhanced by Covid-era lifestyle influences, particularly strong for lateral moves within Hillsborough, Burlingame, and San Mateo. Inventory has remained consistently tight all year long, typically hovering at about 31 - 36 Hillsborough homes for sale at any given time. There are 34 Hillsborough homes for sale at the time of this writing.
Experience Truly Differentiated Hillsborough Market Knowledge: Always move the right chess pieces at the right time!
650-455-3735 geoffrey@geoffreynelson.com. HillsboroughBlog.com
Geoffrey’s Summer 2021 Hillsborough Sales: (May through August Closings)
|
Property |
Sales Price |
Represented |
Factoids |
|
Marialinda Court |
$11,425,000 |
Seller |
Brand New, Lower North, $2,102 per sq. ft. |
|
El Arroyo Road |
$7,100,000 |
Buyer |
Negotiated Under Ask, Pool, View |
|
Mountain Wood Ct. |
$7,100,000 |
Seller |
Italian Farmhouse, Built 2010, Aragon High. |
|
Merner Road |
$3,750,000 |
Seller |
$100K Over Ask. Art Deco Estate |
