A flurry of activity, both on market and off market, characterized the last 30 days in Hillsborough real estate. We saw several new listings in Lower Hillsborough getting snapped up with less than 10 days on the market (examples: 556 Ravenscourt list $5,145,000; 720 Eucalyptus list $8,195,000; 2080 Forest View list $6,595,000, and 25 Marialinda $6,450,000). Multiple offers were in evidence, and buyer demographics included buyers from neighboring San Mateo and Burlingame.
Several off-market closings also define our 30 day snapshot: 350 Pinehill (Carolands $6,200,000), 710 Brewer (Lower North $8,200,000), 255 Ridgeway (Mid South $3,400,000), and 415 West Santa Inez (Lower South list $4,295,000). *Please download full PDF of table below.
Listings that had languished on the market for extreme days also found their place in the summer sun: 400 Hillsborough Blvd, which had switched agents and reduced price by nearly $1.5M since April 2019, has gone pending, as well as Mid North's 463 El Arroyo Road, which had endured on and off listings and reductions since May of 2018. 168 Tobin Clark Drive, a 1990 composition by House & House Architects, also finally went into escrow after being on and off the market since June 2017.
This missing component from the 30 Day Update is high-end activity over $10,000,000. The volatilities of Covid and post-Covid could take longer to restore movement in this rarefied market segment. The average days on market for the 6 current listings at $10M+ is 142 days.
The Hillsborough 30 Day Update table below reflects 22 homes transacted between June 5, 2020 and July 5, 2020: The previous 30 day profile from May 5 - June 5, 2020 shows just 11 homes.
Download Full PDF of Hillsborough Real Estate 30 Day Update, June 5, July 5, 2020 Below.
*Status Codes on Table: P = Pending with no contingencies. AC = Offer Accepted with Contingencies. S = Sold and shows closed sale price.
