One of our local realtors does a monthly recap of sales in B'game, San Mateo and Hillsborough. The June 2012 synopsis is illustrative of the heat in the market right now. 35 sales in B'game which is approximately our usual total inventory. 28 of them were above $1 million which is interesting because San Mateo had 25 above $1 million--and it is about four times our size. At least one of them was a renovation success story as opposed to a tear-down tear jerker.
Average sales price was $1.336 million. There were two homes on the market for more than 200 days and yet the average for the 35 that sold was only 30 days on the market. Average price has crept over the listing prices at 101%. I meet quite a few people who have their retirement savings locked up in their B'game homes, so this is reassuring to them.
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