Mike Bohnert | The Bohnert Group
Millbrae, CA
Single-Family Homes
DRE #01325031
Millbrae, CA
Wed Dec 04 2024
This week the median list price for Millbrae, CA is $2,790,000 with the market action index hovering around 57. This is less than last month's market action index of 61. Inventory has decreased to 7.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
Market Narrative
The market has been cooling off a bit in recent weeks, as more homes are available and demand is less. However, the market is still notably in the Seller’s zone so we haven’t yet seen prices move lower as a result. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect this condition if the index falls to the Buyer’s zone.
Real-Time Market Profile
| Median List Price | $2,790,000 | |
| Median Price of New Listings | $0 | |
| Per Square Foot | $995 | |
| Average Days on Market | 118 | |
| Median Days on Market | 84 | |
| Price Decreased | 43% | |
| Price Increased | 14% | |
| Relisted | 0% | |
| Inventory | 7 | |
| Median Rent | ||
| Market Action | 57 | |
| Strong Seller's Market | ||
The market continues its bounce again this week. We’re a long way from the market’s high point so watch the Market Action Index as a leading indicator for how long this trend will last.
Market Segments
Each segment below represents approximately 25% of the market ordered by price.
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $4,188,888 | 3,830 | 6,500 - 8,000 sqft | 6 | 5 | 44 | 0 | 0 | 63 |
| $3,069,000 | 4,013 | 0.25 - 0.5 acre | 6 | 4 | 48 | 0 | 0 | 80 |
| $2,545,000 | 2,210 | 0.25 - 0.5 acre | 4 | 2.5 | 60 | 0 | 1 | 157 |
| $1,599,024 | 1,864 | 4,500 - 6,500 sqft | 4 | 3 | 58 | 0 | 2 | 143 |