Summer is over, and it seems that we have some respite from the heat at last (and some rain to boot!). The real estate market continued to be pretty hot over the summer, although we saw a bit of a slowdown in August – as per the usual trends of fewer new listings and fewer closed sales during this month due to end-of-summer vacations before the kids go back to school.
Already as we enter September, I’m starting to see an uptick in new listings, although we’ll see what the numbers say when we get to the end of the month.
To the numbers…
Housing Statistics for South Millbrae (single family homes)
|June 2015||July 2015||August 2015|
|# of New Listings||10||5||2|
|Lowest Priced New Listing||$999,000||$1,350,000||$1,198,000|
|Highest Priced New Listing||$2,698,000||$2,599,000||$4,500,000|
|Median Price of New Listings||$1,480,000||$1,749,000||$2,849,000|
|# Active Listings||7||6||4|
|# of Closed Sales||8||11||7|
|Average Days on Market (Closed Sales)||15||20||34|
|Lowest Priced Closed Sale||$1,150,000||$1,300,000||$975,000|
|Highest Priced Closed Sale||$2,999,000||$2,400,000||$2,620,000|
|Median Closed Sale Price||$1,685,000||$1,710,000||$1,400,000|
There’s quite a bit of fluctuation when it comes to median prices of both new listings and closed sales, but considering the low number of transactions, the seeming fluctuation is not too surprising to see and needs to be taken with a grain of salt.
Again, it’ll be interesting to see how things progress in September, as we enter into the usual increased activity of the fall season, AND as many are anxiously awaiting what the Feds will do with regard to the bank rates.
Call me if you need any assistance in Mills Estates, Highlands or elsewhere in Millbrae. I’d be more than happy to discuss the current market’s activity, show homes from the current inventory and help you with any of your real estate needs in the community. You can always reach me at 650.636.3147 or firstname.lastname@example.org
*Not all properties were listed and/or sold by 8z Real Estate. This data is based on content supplied by REcolorado, IRES, PPAR, and/or MLSListings. Content is deemed reliable but not guaranteed. Content may not reflect all real estate activity in the market.