Updated through Apr 2013. The average and median Hillsborough home prices and the number of home sales plotted by quarter since 1998.
The actual home sales price compared to the listed offering price can be one of the easiest ways to see a changing real estate market. Two views of the sales price vs. list price are shown below for Hillsborough homes. The top graph provides a view of the number of homes sold over list price. The more green area showing means a greater number of homes sold over list price. The more red area showing means a greater number of homes sold under list price.
The lower graph provides a view of the price difference between the sales price and the list price. The more area showing above zero means a greater sales price over list price. The more area showing below zero means a lower sales price than list price.
Normally the longer it takes to sell a home, the lower the offered price to buy it. The top graph shows the average days from listing the home for sale to the house being sold. The bottom graph again shows the relationship between sales price and list price.
The price per square foot is often roughly similar in any given neighborhood. In some cities newer homes tend to be larger than older homes. Since newer homes also sell for more than older homes, the price per square foot for a newer, larger home could tend to be greater. The average size of the homes sold is shown below the price per square foot. The average age of the homes sold is shown at the bottom.
The maximum, average, and minimum Hillsborough home sales price by quarter.
It is easier to read actual numbers from a two dimensional plot, but a three dimensional plot can quickly show other trends such as if the price per square foot is different for different sized houses. However each of the averages plotted are created from fewer home sales and the resulting plot shows more random changes.
As expected the price of a house increases with the size of the house, but of course a very small house is still worth a lot of money because of the value of the land. Notice that the lines are almost straight and tilt up as you look at larger home sizes. For the largest homes the average is calculated from very few sales and shows a lot of random change.
This plot shows why the price per square foot is often looked at. The price per square foot does not change dramatically for many different home sizes. This plot does show that the price per square foot changes with time but the two dimensional plot is easier to read.
Are the Hillsborough houses sold today, bigger or smaller than previously? This graph answers that question by showing the number of homes sold versus size and date.
When a house is knocked down and a new house built, the new house is almost always larger than the old house. This plot shows the change with time of the average age versus size of the houses sold.