Luxury homes in Hillsborough Ca and the downturn market
While the value of luxury homes seems to have held up better than the rest of housing market, prices are starting to show decline due to recession, job losses, and sinking stock portfolios. Loan restrictions, and difficulties with appraisals also had effect on sales of luxury homes.
Sales of less expensive houses on other side are accelerating as buyers and investors take advantage of bargain prices, low interest rates and first-time homes buyers tax credit.
The days on the market has really increased accross Bay Area on the high-end. The inventory of luxury homes grows accordingly, thought we had a good number of homes sold.
The number of under contract Hillsborough luxury homes in October 2009 by 45% higher than in October of 2007.
The median price of sold homes in Hillsborough ca is slowly declining.
If you're planning to buy a house in Hillsborough, the time may be right for you, and I will be happy to help.
Lena Griffin
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