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)
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Property
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Sales Price
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Represented
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Factoids
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Marialinda Court
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$11,425,000
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Seller
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Brand New, Lower North, $2,102 per sq. ft.
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El Arroyo Road
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$7,100,000
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Buyer
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Negotiated Under Ask, Pool, View
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Mountain Wood Ct.
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$7,100,000
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Seller
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Italian Farmhouse, Built 2010, Aragon High.
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Merner Road
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$3,750,000
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Seller
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$100K Over Ask. Art Deco Estate
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