It’s no secret that 2013 was one of the hottest years for Bay Area real estate in recent memory. In Hillsborough, overall sales volume increased by more than 25 percent from 2012. By years’ end, over a half-billion dollars worth of property had changed hands – quite impressive for a town of roughly 11,000 residents.

Included in that surge were an unprecedented number of eight-figure home listings, a trend that has continued unabated into 2014. As of January 31, there were seven Hillsborough properties with an asking price of $10 million or higher listed on the MLS. Leading the pack: the $28.8 million Tudor estate at 835 Chiltern Road, a 1920s ornately detailed castle built for lumber baron Arthur Dale King; followed closely by the historic Tobin Clark Estate, the 12-bedroom “House on Hill” mansion on the market for $23.88 million. At a more approachable eight-digit  altitude, 925 Seabury may be the best value at $14,500,000 boasting  circa 2009 new luxury on an acre+ with tennis court, pool, guesthouse, and a basement media room not to be missed.

These properties shine a light on the balance and panache of Hillsborough’s ultra-high end: whether historic or extravagantly brand new, Hillsborough offers diversity in its luxe housing stock at relatively lower entry points than comparable properties in towns such as Atherton. With 38,849 square feet of interior living space, Hillsborough’s most expensive for-sale property clocks in at a reasonable $741 per square foot, well below the town median of $906.

For year 2013 MLS, Hillsborough posted four eight-figure closed sales, with additional sales off-market, or closing with “sales price withheld” such as the $9,900,000 listing on Brookvale that garnered multiple offers with its cutting-edge modern architecture and choice location. Two of the sales were brand new constructions in the Mediterranean style, 3115 Ralston (pictured above) and 2125 Ralston respectively; one was a vintage and imposing Tudor mansion at 3080 Ralston, and the last was the year's #1 sale at $13,270,000 for a circa-1970s remodeled estate on the New Place Road cul-de-sac. For complete 2013 Hillsborough sales data, click the left side bar PDF at HillsboroughBlog.com. Overall, eight-figure homes sold for 93.8 percent of their asking price, a figure slightly lower than Hillsborough’s overall average of 96.51 percent. They stayed on the market for an average of 161 days compared to the town average of 70. Hillsborough’s average sale price for 2013 was $3.607 million.

With land at a premium and an influx of tech and financial sector wealth, we behold increased demand for spectacular estates with a symphony of luxury amenities inside and out. Hillsborough’s inventory of modest 1950s ranch homes or cozy European retreats evidences a gradual transformation into new estates capable of commanding $6,000,000 - $13,000,000.

Perhaps eight-figure real estate development is a subliminal nod to “old” Hillsborough, the era that began with the establishment of the Burlingame Country Club, where legendary estates such as Uplands, Carolands, and New Place reigned supreme.  Most of the “great estates” are no longer used as personal residences, but their presence as private schools, country clubs, or philanthropic emblems perpetuates Hillsborough’s unique mystique and timeless prestige: a singular cachet unmatched by any Peninsula town.