Is Burlingame, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Burlingame has remained a Seller's Market.
Housing Prices in Burlingame, CA
How much do homes in Burlingame, CA cost?
Median Sold Price
$2,430,000
$1,283/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Burlingame was $2,430,000 in May 2024, up 0.8% from last year, and the median price per square foot was $1,283.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $820K | $698.5K | -14.8% |
2 Bedrooms | $1.5M | $1.3M | -10.7% |
3 Bedrooms | $2.3M | $2.4M | +0.8% |
4 Bedrooms | $3.3M | $3.0M | -9.0% |
5+ Bedrooms | $3.9M | $4.2M | +7.7% |
Summary: Burlingame housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 14.8%, 2 bedroom homes decreased by 10.7%, 3 bedroom homes increased by 0.8%, 4 bedroom homes decreased by 9%, and 5+ bedroom homes increased by 7.7%.
Median Sold Price Compared To Nearby Cities
Millbrae | $1.8M | $1.9M | +4.9% |
San Mateo | $1.4M | $1.5M | +4.5% |
Burlingame | $2.4M | $2.4M | +0.8% |
Hillsborough | $5.3M | $4.9M | -8.8% |
Housing Supply in Burlingame, CA
How many homes are available in Burlingame, CA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
52 | 67 | +28.8% |
Summary: The Burlingame real estate market had 67 homes for sale in May 2024, a 28.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 12 | 15 | +25.0% |
3 Bedrooms | 15 | 19 | +26.7% |
4 Bedrooms | 21 | 23 | +9.5% |
5+ Bedrooms | 4 | 10 | +150.0% |
Summary: The Burlingame housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 25%, 3 bedroom homes increased by 26.7%, 4 bedroom homes increased by 9.5%, and 5+ bedroom homes increased by 150%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
16 | 23 | +43.8% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Summary: A total of 23 homes were sold or pending in Burlingame in May 2024, up by 43.8% month-over-month. Of the 22 sold homes, 27% were sold under asking, 14% were sold at asking, and 59% were sold over asking.
Days on Market for Burlingame, CA
How long does it take to sell a home in Burlingame, CA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
13 Days | 13 Days | -5.3% |
Summary: Homes in Burlingame had an average of 13 days on market in May 2024, down by 5.3% compared to last year.
Breakdown of Home Sale Times
18 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 23 homes were sold in Burlingame; 78% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.