Home Buying in Millbrae>Question Details

Anonymous, Other/Just Looking in Millbrae, CA

Millbrae Inventory

Asked by Anonymous, Millbrae, CA Fri Dec 7, 2012

As of today early December 2012. why are there so little single family home inventory in Millbrae? Is this due to normal slowness in winter time activities?

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I have clients in all parts of the Bay Area, from as far north as Fairfield to as down south as Los Gatos and inventory is low for all the SF Bay Area counties. I am a native of the area and this is typical between November-February.

I am an agent, but I am a homeowner first. I have purchased homes in California, Hawaii, and Portugal. Let's talk Real Estate. Let me know if I can be of any help.
0 votes Thank Flag Link Sat Dec 8, 2012
Low inventory is a problem everywhere in the Bay Area. It has been a problem for at least the last six months. The result is that any property that is reasonably priced is seen by many potential buyers and multiple offers are often the result. Where there are multiple offers, only the best – often the highest – offer secures the property. That has been driving prices up across the Bay Area.

The current inventorhy shortage has little to due with seasonal market fluctuations.

If you are a frustrated buyer, take solace in knowing that you are not alone.
0 votes Thank Flag Link Fri Dec 7, 2012
Low inventory is not only in Millbrae... It's a problem for the whole Bay Area... Low interest rates and pretty good local economy are to blame.
Web Reference: http://talisrealestate.com
0 votes Thank Flag Link Fri Dec 7, 2012
For statistics for every city San Mateo County including Millbrae go to http://andrewlamont.rereport.com
0 votes Thank Flag Link Fri Dec 7, 2012
Low inventory and low interest rates and holidays coming up equals quick sales when homes do come on the market, sellers that want to move in the same area have no place to go. Sellers are also trying to recoup some of their equity lost over the last few years.We should see more activity in the new year but until rates go up expect the market to be brisk,
0 votes Thank Flag Link Fri Dec 7, 2012
Well, it's a combination of two things. First, as you say, the holidays and end of the year typically lead to a slowdown in new listings, as homeowners do not want to deal with the hassle of having to prepare their homes for sale while they are busy with family and travel plans. As an area heavily dominated by families, Millbrae tends to experience this effect even more than some other urban areas might. But the second factor is that inventory levels have been exceptionally low in all areas of the Bay Area as well as in most major areas of the country. With the good news that home prices have been increasing (at least good news for sellers), we are hoping to see more people willing to put their house on the market.

Please see my personal blog (link below) for more details regarding this.

Having said this, it's actually a great time to buy a home, as the number of competing buyers tends to go down during this time as well.

Hope this helps & Happy Holidays!
0 votes Thank Flag Link Fri Dec 7, 2012
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