Is Millbrae, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Millbrae has remained a Seller's Market.
Housing Prices in Millbrae, CA
How much do homes in Millbrae, CA cost?
Median Sold Price
$1,904,000
$1,069/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Millbrae was $1,904,000 in May 2024, up 4.9% from last year, and the median price per square foot was $1,069.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $657K | $732K | +11.4% |
2 Bedrooms | $1.1M | $925K | -15.9% |
3 Bedrooms | $1.9M | $1.8M | -3.5% |
4 Bedrooms | $2.0M | $2.4M | +18.6% |
5+ Bedrooms | $2.3M | $2.4M | +7.6% |
Summary: Millbrae housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.4%, 2 bedroom homes decreased by 15.9%, 3 bedroom homes decreased by 3.5%, 4 bedroom homes increased by 18.6%, and 5+ bedroom homes increased by 7.6%.
Median Sold Price Compared To Nearby Cities
Millbrae | $1.8M | $1.9M | +4.9% |
Burlingame | $2.4M | $2.4M | +0.8% |
San Bruno | $1.2M | $1.2M | +0.8% |
Housing Supply in Millbrae, CA
How many homes are available in Millbrae, CA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
34 | 37 | +8.8% |
Summary: The Millbrae real estate market had 37 homes for sale in May 2024, a 8.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 3 | 9 | +200.0% |
3 Bedrooms | 18 | 16 | -11.1% |
4 Bedrooms | 10 | 8 | -20.0% |
5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The Millbrae housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 200%, 3 bedroom homes decreased by 11.1%, 4 bedroom homes decreased by 20%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
19 | 13 | -31.6% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
10 Homes Were Sold
Over Asking
Summary: A total of 13 homes were sold or pending in Millbrae in May 2024, down by 31.6% month-over-month. Of the 13 sold homes, 15% were sold under asking, 8% were sold at asking, and 77% were sold over asking.
Days on Market for Millbrae, CA
How long does it take to sell a home in Millbrae, CA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
27 Days | 17 Days | -37.9% |
Summary: Homes in Millbrae had an average of 17 days on market in May 2024, down by 37.9% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 13 homes were sold in Millbrae; 69% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.