Month-over-Month Changes

In November 2023, the Burlingame real estate market experienced notable shifts compared to October 2023:

  • Homes Sold: There was a 38% increase, with 18 homes sold in November compared to 13 in the previous month.
  • Median Sale Price: Increased by 6%, from $2,510,000 in October 2023 to $2,659,000 in November 2023.
  • Days on Market (DOM): Rose to 20 days in November, up from 14 days in October.
  • Percentage of List Price Received: Sellers received 100% of their asking price in November, a decrease from 102% in October.

Analysis

The month-over-month data for Burlingame indicates a growing market, with a significant increase in the number of homes sold and a rise in median sale prices. The increase in DOM and a slight decrease in the percentage of list price received suggest a more balanced market, where buyers and sellers are negotiating more evenly.

Year-over-Year Comparison

Comparing November 2023 to November 2022, the Burlingame market shows the following changes:

  • Homes Sold: Increased by 38%, from 13 homes in November 2022 to 18 in November 2023.
  • Median Sale Price: Rose slightly from $2.60M in November 2022 to $2.66M in November 2023.
  • Days on Market: Increased from 29 days in November 2022 to 20 days in November 2023.
  • Percentage of List Price Received: Improved from 98% in November 2022 to 100% in November 2023.

Analysis

Year-over-year, Burlingame’s real estate market has shown growth in sales volume and stability in sale prices. The decrease in DOM and the improvement in the percentage of list price received indicate a strong market, with sellers receiving their asking prices.

Price Points and Quadrants

The sales data for November 2023 in Burlingame, broken down by quadrants, reveals:

  • Top Quadrant: 5 homes sold, Median Sale Price: $3,900,000, Median DOM: 10, Avg. $/Sq.Ft.: $1,381.
  • Second Quadrant: 5 homes sold, Median Sale Price: $2,745,000, Median DOM: 11, Avg. $/Sq.Ft.: $1,301.
  • Third Quadrant: 4 homes sold, Median Sale Price: $2,000,000, Median DOM: 42, Avg. $/Sq.Ft.: $1,300.
  • Bottom Quadrant: 4 homes sold, Median Sale Price: $1,400,000, Median DOM: 39, Avg. $/Sq.Ft.: $1,315.

Analysis

The quadrant data for Burlingame in November 2023 shows that the top and second quadrants, representing higher-priced homes, are moving quickly with shorter DOM. The third and bottom quadrants, while active, have longer DOM, indicating a slower movement in these segments.

Conclusion

The Burlingame market in November 2023 demonstrated a significant increase in homes sold both month-over-month and year-over-year. The market is experiencing a rise in median sale prices and a balanced negotiation environment. The quadrant data provides insights into the varying dynamics across different price segments, with higher-priced homes moving more quickly than lower-priced ones.

Data provided by MLSListings and is deemed reliable but not guaranteed.