Click on the video below to watch Dan Gilmartin, Executive Vice President of The Gilmartin Group, discussing Hillsborough’s 1st quarter market review in detail.
The 2014 spring market is underway and there are currently 40 homes for sale. Last year at this time there were 54 homes for sale. This past quarter the average sales price for all of Hillsborough was $3,323,622. These are homes with a smaller square footage with a higher price per square foot at $840 which is a natural outcome given the “Law of Diminishing Returns.”
The price per square foot for Upper Hillsborough JUMPED from $777 to $801 and the price per square foot for Lower Hillsborough JUMPED from $785 to $889. This is obviously great news!
The average days on market (DOM) in the first quarter was 86 days, which is higher than it should be. The list price to sales price ratio was 96% after taking into consideration price reductions, which would explain the longer days on market. There are a lot of homes on the market now that are not doing things the “right way.”
If you are thinking of selling your home, please give me a call for a free market analysis of your home. I will show you how to showcase and market your home so that it sells for top dollar in less time, while other homes sit on the market.
I hope you have enjoyed reading this market report (and watching this video) on Hillsborough’s 1st quarter. If you have any questions about this report or the market in general, call me any time at 650-348-2020. I am happy to assist you with all of your real estate needs.