Burlingame Market Update August 22, 2010

Sunday August 22, 2010

BURLINGAME 94010

This Week

The median single family home price in BURLINGAME 94010 this week is $1,210,000.

Inventory has been tightening and days-on-market increasing recently. The Market Action Index has been basically flat, not providing strong indication for market conditions.

Price

We continue to see prices in this zip code hovering around these current levels, even though they bumped up a bit this week. Look for a persistent up- shift in the Market Action Index before we see prices move significantly from here.

Supply and Demand

Local conditions are currently quite strongly in the Buyer's Market zone (below 30). The 90-day Market Action Index stands at 17. With several months of inventory available at the current sales rate, buyers should find ample choice.