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Carol Jones' Blog

By Carol Jones | Agent in San Carlos, CA

Market Watch

SF Peninsula — The incredible lack of inventory is still with us as ever-increasing pools of buyers run from one multiple offer to the next, our Burlingame manager says. There are currently just eight active listings in Millbrae, 15 in Burlingame, 40 in San Mateo, seven in Foster City and 12 in Belmont. There are 74 active and 20 pending listings in Hillsborough. The buyer activity is stronger with multiple offers at all price points. The upper end (over $5 million) is gaining strength with cash buyers showing interest and new listings coming to the market. The devil slide’s tunnel opened this week, opening the way from San Francisco through Pacifica to the coast-side communities. Market is very brisk as many buyers from the mid-Peninsula look at the values on the coast. Buyers still showing very strong confidence in the market and almost all decent homes are being snapped up, our Menlo Park manager notes. Buyers are still in intense competition for well-priced properties in Palo Alto. Our Redwood City-San Carlos office says inventory seems to be growing slowly, but there are still quite a few frustrated buyers in the $900,000 to $1,200,000 price range. There were 10 offers on a San Carlos home that showed very well listed at $1,225,000. The Woodside office is busy with lots of buyers willing to jump on high-end well-priced properties. Three offers on a $6 million dollar property – close in 3 days. When a well-priced property shows up the buyers come out.

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