Real Estate
October Home Sales Are Good News for Sellers
The higher prices are a good sign for sellers and cities that rely on property taxes to fund city services. For buyers, the news may not be so good.
The median price for a home in Burlingame and Hillsborough was $1.45 million in October 2012, a 16.5 percent increase over October 2011 prices.
The price data was released on December 13 by the San Diego-based real estate tracking firm DataQuick.
According to DataQuick, nearly 7,800 Bay Area homes changed owners in October. The median price for a Bay Area home was $416,000. Sales volume was up 160 percent in Burlingame and Hillsborough as well.
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The San Francisco Chronicle reports that the generally higher prices for homes are due to a confluence of tight supply, high demand and low interest rates on mortgage loans.
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Burlingame 94010 52 160% $1,450,000 16.5% $4,900,000 $722 6.2%More Burlingame and Hillsborough real estate info:
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