Our Millbrae market trend charts below were updated: Sep 30, 2024. We've calculated our unique Millbrae trend graphs using all sales records available from MLSListings, the multiple listing service used by nearly all licensed Silicon Valley real estate agents when listing real estate for sale.
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On Sep 30, 2024, current quarterly market statistics for Millbrae houses
- Millbrae house median sale price: $2,000,000
- Millbrae house average sale price: $2,123,372
- Millbrae days on market: 13
- Millbrae number of houses sold: 29
- Millbrae sale price to list price for houses: 109%
Effective annual percentage change in median sq.ft. sales price over last:
- 5 years (2019 to 2024): 3.7%
- 10 years (2014 to 2024): 5.2%
Early in the quarter there may not be any closed escrows to report. Effective annual percentage change can not be calculated if there were no sales in one of the years.
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Recent Millbrae Real Estate Trends - highlights we see on 8/16/2024
In the second quarter of 2024 the Millbrae house price per sq.ft. approached its previously reached all time high. In the third quarter the price per sq.ft. has fallen a little, however over 80% of houses have sold over list price, with an average sales price of 105% of average list price. The strong sales price to list price suggests prices are likely to bounce up.
Introduction To Extensive Millbrae Real Estate Market Trends
For most areas, houses are the most common type of home sold. To quickly spot changes in the Millbrae real estate market view Millbrae house prices per sq.ft. and Millbrae house sales price vs. list price. Changes in the mix of houses sold in Millbrae can change the average price even when the price per sq.ft. does not change. The sales price vs. list price graph flags changes in demand vs. supply. The numerous other trends graphed help you both understand and compare Millbrae real estate to other areas. Recently completed townhouse and condo developments, because of their size, can have significant short term impacts on supply vs. demand for their respective home types but typically do not affect overall Millbrae housing supply vs. demand trends.
Jump down to extensive Millbrae real estate trends
Millbrae Real Estate Trends - Houses
Short summary of 4 key Millbrae home value trends for single family houses which can be printed
Millbrae Real Estate Trends - Average and Median Home Prices Of Houses
When trying to understand Millbrae home prices, the first and most often real estate trend looked at is either average sale price or median home sale price. The average price can be pushed up by a particularly expensive home being sold. Much less often an especially low price for several homes can push the average price down. By looking at both average and median home prices, a quick judgment can be made about any unusually high or low prices.
Millbrae Real Estate Trends - Home Prices Per Square Foot For Houses
The sales price of a Millbrae house is affected by its size. Looking at price per square foot gives a partial adjustment for differences between houses. Furthermore if you look at the average size of a Millbrae house sold you will see that it varies with time. Part of the variation is due to the random nature of which houses are being sold but there tends to be a increase in the size with time because when a house is replaced with a newer house, the newer house is almost always larger.
Millbrae Real Estate Trends - House Sales Prices vs. List Prices
Home buyers and sellers want to know the typical relationship between list price and sales price. This relationship varies with city and time. The plots below show this relationship for Millbrae houses using color coding which generally highlights changes in the market. More Millbrae homes being sold over list price is a very good indicator of rising home prices. More homes being sold under list price is a very good indicator of falling home prices.
Millbrae Real Estate Trends - Number of Houses Sold
A quick estimate of how active the Millbrae real estate market is can be found by looking at the number of houses sold. Locally there is a strong seasonal change in the number of houses sold. The lowest number of houses sold typically occurs around December & January. The highest number of houses sold typically occurs around May. Price changes do not track the seasonal change in the number of houses sold.
Millbrae Real Estate Trends - Days On Market for Houses Sold
Many people look at "Days On Market", the average number of days a house is offered for sale before it sells, to spot changes in the Millbrae real estate market. Increasing DOM implies buyers are not being as competitive to buy homes. This statistic also tends to have a seasonal variation. DOM is typically greater late in the year. Seasonal variation in this statistic can make it difficult to use this statistic to predict either rising or falling house prices.
Millbrae Real Estate Trends - Size of Houses Sold
The behavior of buyers and sellers can be somewhat different depending on the price of the house. There are times when low to mid-range homes are selling quickly but higher priced homes aren't or the reverse may be true. Generally house price is proportional to size in a given area. Locally newer homes are often larger than older homes. Looking at the average size of houses being sold can provide additional insight into the Millbrae real estate market.
Millbrae Real Estate Trends - Lot Size of Houses Sold
As mentioned above generally house price is proportional to house size in a given area. Another factor is lot size. Most local cities limit the maximum size of house that can be built depending upon the lot size. A larger house can be built on a larger lot. Additionally local cities may allow a secondary dwelling if the lot is greater than a specified size (typically 8,000 sf).
Looking at the average lot size of houses being sold can provide additional insight into the Millbrae real estate market. Lot sizes over 150,000 sf are excluded from the statistics to prevent the uncommon sale from pushing the average much higher than the median.
Millbrae Real Estate Trends - Age of Houses Sold
A brand new Millbrae home typically sells for a premium price compared to a similar sized home in the same neighborhood. When looking at average Millbrae home prices, the average age should be checked to see if prices are changing because of demand or because different types of houses are being sold.
Millbrae Home Prices - Maximum and Minimum for Houses Sold
When trying to understand the Millbrae real estate market, it is useful to take a look at the extremes of the sales price range. Average buyers and sellers in each price range may act differently.
Quarterly Maximum Millbrae Price of Houses Sold
Quarterly Minimum Millbrae Price of Houses Sold
Monthly Maximum Millbrae Price of Houses Sold
Monthly Minimum Millbrae Price of Houses Sold
Yearly Maximum Millbrae Price of Houses Sold
Yearly Minimum Millbrae Price of Houses Sold
Millbrae Real Estate Trends - Condos
Short summary of 4 key Millbrae real estate trends for condos which can be printed.
Millbrae Real Estate Trends - Average and Median Condo Prices
When trying to understand Millbrae condo prices the first and most often real estate statistic looked at is either average or median condo sale price. The average price can be pushed up by a particularly expensive condo being sold. Much less often an especially low price for several condos can push the average price down. By looking at both average and median price a quick judgment can be made about any unusually high or low prices. When a condo development is offered for sale, the high number of units offered can shift both average and median prices.
Millbrae Real Estate Trends - Condo Prices Per Square Foot
The average sales price of condos is typically affected by the average size of the condos sold. If a new development comes up for sale, the average size can be affected which in turn affects the average sales price. This same development may affect statistics a second time about five years later if many of the first purchasers decide to sell and move to a bigger home. Looking at price per square foot gives a partial adjustment for changes in the typical condo sold.
Millbrae Real Estate Trends - Condo Sales Prices vs. List Prices
Millbrae condo buyers and sellers want to know the typical relationship between list price and sales price. This relationship varies with city and time. The plots below show this relationship using color coding which generally highlights changes in the market. More condos being sold over list price is a very good indicator of rising demand for condos. More condos being sold under list price is a very good indicator of falling condo demand. Comparing Millbrae condo prices to Millbrae house prices can give you more insight into whether there is a general change in Millbrae home prices or if something unique to condos is happening.
Millbrae Real Estate Trends - Number of Condos Sold
A quick estimate of how active the Millbrae condo real estate market is can be found by looking at the number of condos sold. Locally there is a strong seasonal change in the number of condos sold. The lowest number of condos sold typically occurs around December & January. The highest number of homes sold typically occurs around May. This seasonal variation is often altered for condo sales by a large new development beginning to sell their condos. Price changes do not track the seasonal change in the number of condos sold.
Millbrae Real Estate Trends - Days On Market for Condos Sold
Many people look at "Days On Market", the average number of days a condo is offered for sale before it sells, to spot changes in the condo real estate market. Increasing DOM implies buyers are not being as competitive to buy condos. This statistic also tends to have a seasonal variation. DOM is typically greater late in the year. Seasonal variation in this statistic can make it difficult to use this statistic to predict either rising or falling condo prices. New condo developments can change the typical DOM.
Millbrae Real Estate Trends - Size of Condos Sold
The behavior of buyers and sellers can be somewhat different depending on the price of the condo. There are times when low to mid-range condos are selling quickly but higher priced condos aren't, or the reverse may be true. Builders try to match what they build to what is selling well. It can take several years for a condo development to begin selling but it was surely built to target expected demand. Looking at the average size of condos being sold can provide additional insight into the condo real estate market.
Millbrae Real Estate Trends - Age of Condos Sold
A brand new condo typically sells for a premium price compared to a similar sized condo in the same neighborhood. When looking at average condo prices, the average age should be checked to see if prices are changing because of demand or because different types of condos are being sold.
Millbrae Home Prices - Maximum and Minimum for Condos Sold
When trying to understand the Millbrae real estate market, it is useful to take a look at the extremes of the sales price range. Average buyers and sellers in each price range may act differently.
Quarterly Maximum Millbrae Price of Condos Sold
Quarterly Minimum Millbrae Price of Condos Sold
Monthly Maximum Millbrae Price of Condos Sold
Monthly Minimum Millbrae Price of Condos Sold
Yearly Maximum Millbrae Price of Condos Sold
Yearly Minimum Millbrae Price of Condos Sold
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Have you ever wondered what the difference is between a Millbrae real estate agent and a Millbrae Realtor? "Realtor" is a trademarked name owned by the National Association of Realtors (NAR). A Millbrae Realtor is a real estate agent who belongs to NAR. Many purchase contract forms used locally are created by the California Association of Realtors (CAR) which is under NAR. The local Silicon Valley Association of Realtors (SILVAR), the Santa Clara County Association of Realtors (SCCOAR) and San Mateo County Association of Realtors (SAMCAR) manage access to the multiple listing service and establish standards of practice for local real estate agents.
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