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October Home Sales in Millbrae are Good News for Buyers

The lower prices are good news for buyers eager to move to Millbrae. Sellers and tax collectors may not be so happy.

The median price for a home in Millbrae was $661,000 in October 2012, a 3.5 percent decrease from October 2011 prices.  That bucked the general trend in the Bay Area and San Mateo County where most cities showed an increase in median price.

The price data was released on December 13 by the San Diego-based real estate tracking firm DataQuick.

According to DataQuick, nearly 7,800 Bay Area homes changed owners in October. The median price for a Bay Area home was $416,000.  Sales volume was up 160 percent in Burlingame and Hillsborough as well. 

The San Francisco Chronicle reports that the generally higher prices for homes are due to a confluence of tight supply, high demand and low interest rates on mortgage loans.

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Community Zip code Number Sold Percent Change Median Price Percent Change Highest Price Price per Square Foot Percent Change

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Millbrae 94030 34 142.9% $661,000 -3.5% $1,510,500 $590 -3.4%

More Millbrae real estate info:

           .        Homes for sale in Millbrae

           .        Rentals

           .        Home values

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