Real Estate Statistics for July 2021 – San Francisco Peninsula Areas

[Ken and Ari Walker]

 

Reports for last month show that the Peninsula is still a hot commodity. Homes are flying off the shelf with selling prices well above the asking price. Buyers can still expect to engage in bidding wars knowing that unless they get creative with their offer, they will probably lose out. All you need to do is examine the activity from July to see that real estate remains an extraordinarily strong seller’s market.

Menlo Park:  

• D.O.M.: 6
• Ave. Selling Price:  $2,563,025 ($175,125 ABOVE 6/21)
• 16% ABOVE asking price

Foster City:

• D,O.M.:  8
• Ave. Selling Price:  $2,322,710 ($39,710 BELOW 6/21)
• 16% ABOVE asking price

Belmont:

• D.O.M.: 9
• Ave. Selling Price:  $2,290,884 ($114,368 BELOW 6/21)
• 17% ABOVE asking price

San Carlos:

• D.O.M.:  11
• Ave. Selling Price:  $2.659,670 ($120,812 ABOVE 6/21)
• 12% ABOVE asking price

San Mateo:

• D.O.M.:  13
• Ave. Selling Price:  $2,368,985 ($358,062 ABOVE 6/21)
• 14% ABOVE asking price

Burlingame:

• D.O.M.:  11
• Ave. Selling Price:  $3,101,173($8,738 ABOVE 6/21)
• 5% ABOVE asking price

In this market speed is everything!  On the Peninsula in July, the average days on the market ranged from 6 days to 13 days. That doesn’t give a Buyer any time to dilly-dally.

If you want to be competitive in today’s real estate arena, getting pre-approved for a mortgage is essential. Beyond that step, consider a fast private money real estate loan from Sun Pacific Mortgage. We are known for our speed in closing deals in a week or less.

Give us a call at 707-523-2099 to get a bridge loan or a temporary purchase loan that you can refinance later when speed is of no consequence.

Click here to learn more about our company.

 

Best, Ken – The Guys in the White Hats

Hard Money Lead Loan Originator at Family owned and operated Sun Pacific Mortgage & Real Estate, serving all of California since 1988!  707-523-2099   www.Sunpacificmortgage.com

CA DRE License #01858042 and NMLS #1221130

 

Note:  Get our financing despite bad credit, difficult to prove income, property a fixer, etc.!  We finance Jumbo loans, Bridge and short-term loans, Owner Occupied purchases and refinances, investment purchases and commercial.

 

The content of this blog contains general advice only and does not consider individual financial circumstances, desired loan amounts or existing real estate or lending transactions. This information is intended for licensed Real Estate Agents and licensed Lenders/Mortgage Brokers and is posted on our company website and specific blog sites with the express purpose of reaching such licensed individuals.