San Bruno, a community just south of San Francisco, has seen its real estate market rising and falling throughout the past several years, with the economic recession of the past couple of years plaguing the market, like most others in the state of California, as foreclosures and market inventory have risen and prices have plummeted.
According to statistics from the San Mateo County Association of Realtors, in February, there were 28 new listings, putting the current inventory of San Bruno homes for sale at 62. up from January’s inventory of 54. There were 18 closed sales in February, up from 12 in January. The homes spent an average of 26 days on the market before selling, a marked increase of 81 days average in January.
The average sale price for San Bruno real estate in February was just over $530,000, down slightly from just over $556,200 in January, but the median price was $539,500 in February, up from $530,000 in January.
Looking back at the previous year, San Bruno had a total of 207 sales in 2009, down from 228 sales for the year in 2008. Prices showed signs of a struggle throughout the year: The 2009 median sales price was $543,000, down from 2008′s figure of $600,000. And total sales volume was down by more than $20 million for the full year from the previous one.