Mill Valley CA. Real Estate Market Report (January 2010 Home Sales Update)
January 19, 2010 by admin
The number of home sales in the Mill Valley, California real estate market rose again in December 2009 — 27 listings sold, compared with 24 in November. Based on last month’s total, we currently have an overall inventory of homes sufficient to last 1.96 months! This is a HUGE reduction from the absorption rate from May 2009, which stood at well over 8 months. Indeed, the number of homes for sale in Mill Valley is an extraordinarily low 53. Meanwhile, asking prices have held steady over the past quarter and stand now at about $610 per square foot. It remains to be seen whether this rise will translate into higher sales prices.
We still beleive that there are many “real buyers” out there who have been waiting for “a sign” to buy. Certainly, the negative feedback loop supplied by the media has turned the corner — indeed, investors are “flipping” homes again! Mill Valley’s low end market (under $800,000) is competitive with 33% of homes in escrow and that fact bodes well. Below is a table detailing the number of homes in escrow in each price band:
|
Price Range |
Total Active Homes |
Pending Listings |
|
Up to $800K |
10 (no change) |
33% |
|
$800K - $1 mil. |
11 (down 2) |
21% |
|
$1 mil. - 1.5 mil. |
15 (down 6) |
29% |
|
$1.5 mil. - $2 mil. |
14 (up 1) |
23% |
|
$2 mil. & Up |
13 (down 4) |
7% |
Mill Valley’s 27 sales in December 2009 gave rise to the following averages: 131 days on the market; an average price of $1,019,843; and about 1,952 sq. ft. (or about $528 per sq. ft.).
Homes in Tam Valley, Strawberry, Sycamore Park, and Country Club generated the most calls this month. If you would like more information about neighborhoods, sales, schools, or local Mill Valley services references, just give me a call at (415) 350-9440 or e-mail me at Kyle@MillValley101.com.
p.s. I currently have several clients who want to be sellers, but are waiting in the wings. Please contact me to determine if any of these opportunities fit your needs. If you would like my Mill Valley Hot List, call or e-mail me: (415) 350-9440 | Kyle@MillValley101.com. It is always my pleasure to be of service. Christie’s Great Estates | Morgan Lane Marin | Pacific Union International.
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