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23March 2015

Hillsborough Price Per Sq. Ft. Rising Boldly

Geoffrey C. Nelson
HillsboroughSpring2015Sales

As I predicted in previous blogs, Hillsborough Price Per Sq. Ft. (PPSF) is rising boldly to new levels, with Spring 2015 momentum putting us squarely into the $1,000+ per sq. ft. average range. We have several examples this Spring that will make $1,000+ per sq. ft. the new norm. This is based first and foremost on land values rising, with well located Hillsborough homes receiving urgent demand regardless of their condition. With towns like Palo Alto commanding $1,300 - $1,600 per foot regularly, Hillsborough is quickly escalating its own benchmark value for the important PPSF metric. And why not? Hillsborough's legendary heritage as the ultimate Peninsula luxury suburb largely predates any other town, Palo Alto and Atherton included. Elementary and Middle school scores are perennial 960-990 APIs; the SFO airport is 10 minutes away; downtown San Francisco only a 25 minute trip; and downtown Burlingame and San Mateo are increasingly upscale cosmopolitan venues.

Some of the "Pending Sales" on this chart will close soon at/near the $1,000+ per sq. ft.. I will update the spreadsheet accordingly soon!   *Click or Tap Image Above to Enlarge Data*


GEOFFREY C. NELSON
Senior Partner, Luxury Real Estate Group
Agent No. 01313666
1290 Howard Ave, Suite 201 , Burlingame , CA 94010
Email: geoffrey@geoffreynelson.com
Phone: (650) 455-3735
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