October Home Sales Are Good News for Sellers

The median price for a home in Burlingame and Hillsborough was $1.45 million in October 2012, a 16.5 percent increase over October 2011 prices.

The price data was released on December 13 by the San Diego-based real estate tracking firm DataQuick.

According to DataQuick, nearly 7,800 Bay Area homes changed owners in October. The median price for a Bay Area home was $416,000.  Sales volume was up 160 percent in Burlingame and Hillsborough as well. 

The San Francisco Chronicle reports that the generally higher prices for homes are due to a confluence of tight supply, high demand and low interest rates on mortgage loans.

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More Burlingame and Hillsborough real estate info:

           .        Homes for sale in Burlingame and Hillsborough

           .        Rentals

           .        Home values

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