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Burlingame, CA Real Estate Market Overview

  • $2.5M

    Median Sale Price
  • $1.42K

    Median Sale Price per Sq. Ft.
  • 14

    Total Homes Sold
  • 44

    Median Days on Market

Burlingame, CA Housing Market Trends

Welcome to Burlingame, a vibrant city where the housing market is as dynamic as the community itself. If you're considering buying a home in Burlingame or just curious about the current market trends, you're in the right place.

The Market Pulse

As of October 2023, Burlingame's housing market presents a unique blend of opportunities and challenges:

  • Market Competitiveness: With an average of 6 offers per home, the market is somewhat competitive. However, this competition level allows for thoughtful decision-making.
  • Sales Trends: Homes are selling in about 44 days, a notable increase from 15 days last year, indicating a shift towards a more balanced market.
  • Pricing Insights: The median sale price stands at $2.5 million, a slight decrease of 1.5% from last year. This adjustment in price might reflect a more accessible market for potential buyers.
  • Value Per Square Foot: At $1.42K per square foot, witnessing a 4.6% increase since last year, the market shows steady growth in property value.

Migration and Relocation Trends

Understanding who is moving in and out of Burlingame offers additional insight:

  • Outbound Interest: 23% of Burlingame homeowners are looking to move out, with a majority (77%) preferring to stay within the metropolitan area.
  • Inbound Interest: Burlingame attracts 3% of homebuyers from outside metros, with noticeable interest from places like Ukiah, Bloomington, and State College.
  • Preferred Destinations: For those moving out, popular destinations include Sacramento, Los Angeles, and Seattle.

What This Means for You

Whether you're looking to buy your dream home in Burlingame or considering selling, understanding these trends is crucial. The somewhat competitive nature of the market, combined with the recent changes in sales trends and prices, offers a nuanced landscape for both buyers and sellers.

Ready to Make Your Move?

If you're contemplating a move to or within Burlingame, or if you have any questions about the current real estate trends, don't hesitate to reach out. As a real estate specialist, I'm here to assist you in navigating this dynamic market and to help you find the perfect home that meets your needs and aspirations. Contact me today to start your journey in Burlingame's unique and welcoming community.

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