For those of you who are in the market for a luxury Burlingame property, or are interested in selling your home, here is the market report for Burlingame homes for sale for a 12 month period:

According to RealtyTrac, home values are down 17.55% over a year ago. The median home price the last 12 months is $1,054,320.00. You can see the Burlingame market trends below:

Here is some additional data for Burlingame homes for sale July 2009:

Median List Price $1,386,500.00
List Price per Sq. Ft. 647.00
Median Sq. Ft. 2,170 sq. ft.
Median Lot Size 4,501-6,500 sq. ft.
Days on Market Average 101

There were 80 homes for sale in Burlingame last week, with an average list price ranging from $540,000 - $3,295,000. The median list price for Burlingame homes for sale last week was $1,386,500.00 . The average price for Burlingame homes for sale last week was $1,537.536. It's a buyer's market with plenty of homes for sale in Burlingame. So how come only 6 homes sold? Summer sometimes is slow, but in my opinion as a Burlingame Realtor, it looks like price might be a major reason. Homes for sale in the surrounding Burlingame areas have dropped, but homes for sale in Burlingame remain high. Burlingame sellers still have not realized that in order to sell, they have to start reducing prices. As a Burlingame Realtor, it is my job to keep clients informed on the Burlingame market trends so that they can adjust their prices to sell.

Overall home prices in the Marin and San Francisco area have been selling pretty consistently. So what's wrong with Burlingame when only 8% of the homes are selling? If it's not price, then it's the economy. Buyers are concerned about job stability and lenders are requiring up to 30% down to qualify for a mortgage. It does appear though that the most expensive homes are selling quicker than the lower priced homes, which is usually the opposite. While the economy still remains unpredictable, many home buyers will continue to be cautious as well.

Burlingame has much to offer tourists and residents alike. There are nine major hotels in the area, and San Francisco International Airport is located a few miles to the north. Close proximity to San Francisco. The city offers nature walks through wetlands as well as city streets filled with stores carrying the latest fashions and home furnishings and handcrafted gifts. You will also find some of the finest first class gourmet restaurants. There are free concert events Burlingame, family movie nights, Shakespeare in the Park, art festivals throughout the year and even an annual pet parade.

Whether you're looking for purchasing or selling assistance, corporate relocations, residential or commercial real estate investments to diversify your portfolio, Phil Chen and the Sybarite Investments team practice what we preach and understand all aspects of real estate from all angles to be able to negotiate, analyze and execute to your advantage. Please contact us today at Phil@Sybariteinv.com or give us a call at (415)-271-1920.