Mills Estates Real Estate Update January 2012

Raziel Ungar

February 9th, 2012 - 1 min read
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2011 was an interesting year in the Burlingame neighborhood of Mills Estates. In 2010, 38 homes were listed and there were 25 homes sold (some from those 38 listed and perhaps a few left over from the previous year).  Inventory peaked at 12 homes for sale. Relative to the number of sales in the neighborhood that would be like an inventory of for sale homes above 100 in the city of Burlingame. In the last eight years, inventory has never gone above 77 in the City. In 2011, only 23 homes were listed for sale and there were 22 homes sold, a very impressive statistic. Along with homes that do not sell and are taken off the market, this pushed inventory downward. In 2011, inventory peaked at 4 homes for sale at any one time.

So far, 2012 is shaping up to be like 2011 with very low inventory. At the end of January 2012, there were two homes for sale in Mills Estates. No homes were sold in January 2012. One well priced home on Dolores Way received 13 offers.

If you're interested in learning more about the Mills Estates real estate market, considering selling your home in Mills Estates, or thinking about moving to Mills Estates, please drop me a line and I'd love to connect with you.

By The Numbers - Mills Estates Real Estate for January 2012

Current Month Last Year Total or Average
January 2011 January 2012 2010 2011
Sales 2 0 25 22
Days on Market 54 N/A 55 38
Average Price $1,388,000 N/A $1,189,840 $1,180,800
Median Price $1,550,000 N/A $1,321,273 $1,353,273
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