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.
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.
.Community Zip code Number Sold Percent Change Median Price Percent Change Highest Price Price per Square Foot Percent Change
.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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