Is Millbrae, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 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
$1,840,000
$1,049/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Millbrae was $1,840,000 in March 2024, down 0.8% from last year, and the median price per square foot was $1,049.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $657K | $727K | +10.7% |
2 Bedrooms | $1.1M | $980K | -13.1% |
3 Bedrooms | $1.9M | $1.8M | -6.2% |
4 Bedrooms | $2.4M | $2.2M | -7.5% |
5+ Bedrooms | $2.3M | $2.4M | +2.7% |
Summary: Millbrae housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10.7%, 2 bedroom homes decreased by 13.1%, 3 bedroom homes decreased by 6.2%, 4 bedroom homes decreased by 7.5%, and 5+ bedroom homes increased by 2.7%.
Median Sold Price Compared To Nearby Cities
Millbrae | $1.8M | $1.8M | -0.8% |
San Bruno | $1.2M | $1.2M | -1.5% |
Burlingame | $2.6M | $2.4M | -7.7% |
Housing Supply in Millbrae, CA
How many homes are available in Millbrae, CA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
24 | 30 | +25.0% |
Summary: The Millbrae real estate market had 30 homes for sale in March 2024, a 25.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 1 | -50.0% |
2 Bedrooms | 6 | 7 | +16.7% |
3 Bedrooms | 7 | 11 | +57.1% |
4 Bedrooms | 7 | 8 | +14.3% |
5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The Millbrae housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 16.7%, 3 bedroom homes increased by 57.1%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
10 | 6 | -40.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
4 Homes Were Sold
Over Asking
Summary: A total of 6 homes were sold or pending in Millbrae in March 2024, down by 40.0% month-over-month. Of the 5 sold homes, 0% were sold under asking, 20% were sold at asking, and 80% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
36 Days | 12 Days | -65.7% |
Summary: Homes in Millbrae had an average of 12 days on market in Mar 2024, down by 65.7% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During March 2024, 6 homes were sold in Millbrae; 83% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.