Millbrae, CA 94030 Real Estate Market Report

Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

Market Metrics

The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

Rental Market

Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.

Property Taxes

Liquidity & Velocity

Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.

Market Trends & Context

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

Key Findings

1. The neighborhood's primary market value indicator is the median sold price, reported at 2,287,000, which represents the most reliable signal of recent transaction levels and should be the focal point for pricing and appraisal decisions.
2. The market shows relatively slow sales velocity: the median days on market is 316, which suggests pricing friction or extended negotiation windows rather than rapid turnover—plan for longer marketing horizons when listing.
3. Price structure is firm per unit area but under short-term pressure: the median price per square foot is 1,289 while the price year-over-year trend is down, indicating sellers may need to set expectations below recent peaks despite a hot market temperature.
4. Rents are rising while financing costs are elevated: the median market rent is 3,350 and rent year-over-year trend is up, even as interest rate pressure is reported as elevated (current 30-year fixed mortgage rates ~6.5%), which may tighten buyer purchasing power and shift some demand toward renters.

Notable Properties

The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.