Karin Cunningham

Archive for May 2009

San Bruno Real Estate “Shake Up”!

In San Bruno Real Estate on May 21, 2009 at 6:01 pm

Skycrest Village- New Homes- San Bruno

Skycrest Village- New Homes- San Bruno

From the Skycrest Village, new homes in San Bruno, to the bank owned fixer uppers, San Bruno homes for sale are feeling the shift of a real estate “shake up”! Inventory over the past few weeks has dwindled down to a mere 40 homes for sale and 15 condos. That’s not too many when you consider that San Bruno consists of 14,677 households.

 

Over the past 2 weeks 14 homes have “pending sales”. That’s one sale per day in just 2 weeks! We haven’t seen movement in the market like that in quite some time. The recent average sale price according to the San Mateo County MLS (Multiple Listing Service) is $470,000.

Currently, there are 2 two bedroom condos for sale at the Peninsula Place Condominium complex listed at $279,000. Great opportunity for investment or living in close proximity to the airport and San Francisco. There are also still some great little ranch style homes for sale in the $300,000 range.

San Bruno real estate is prime property because of its nice weather, living on the better side of a fog belt, it’s closeness to San Francisco and all of the conveniences and comforts of living in community that cares about its citizens. People are drawn to San Bruno for it’s rich and diverse cultures, awesome parks and recreation activites, and dedicated school system, as well.

Bank owned fixer upper!
San Bruno bank owned fixer upper!

It’s great to see this activity in the market. It’s not centralized to the lower priced homes, either! Recently, I was involved in a “bidding war” for a house in the Rollingwood area of San Bruno which was handsomely priced at $564,000. This was a 4 bedroom, 2 bath home in average shape. We were up against 5 offers in less that one week!

The lower priced homes do generally get more multiple offers and a lot of them are being bought “all cash”. Imagine that! I think the real estate “slow down” in San Bruno has pick up the pace and has buyers and sellers making new decisions of whether or not to buy or sell. It’s a win win situation for both sides, it seems to me!