Through the end of May*, the average price per sq. ft. for Hillsborough real estate sales is now at $1,493 per foot, up 14% from Spring 2021's average of $1,314 per foot. This keeps us firmly on pace with my earlier predictions of reaching a $1,500 per foot average for the Town for 2022 by year end.
Days on market are also dramatically improved, down to only a 29 day average for Spring 2022 vs.Spring 2021's 63 days on market average. The median sale price last spring was at $5,650,000, with Spring 2022 coming in at $5,795,000. Impressive gains even amidst rising interest rates, gas prices, international turmoil, and plunging stock market! The high-end market has been even more impressive and resilient, establishing 5 sales over $2,000 per sq. ft. for the first time ever.
Please see the PDF below for all Hillsborough closed sales from Jan 1 - May 29, 2022.
As always, I am only a quick text away, at Coldwell Banker's downtown Burlingame headquarters, to answer all your questions on Sales Comps, Off Market Activity, Coming Soons, and your Hillsborough real estate planning needs. 650-455-3735 cell/text. 21 year track record!
Warm regards,
*statistics for this article, Spring = per MLS closed sales 1/1/22 - 5/29/22
