Pacific Union International Mill Valley CA. Real Estate Market (May 2010 Home Sales Update)

May 15, 2010

The number of homes sold in the Mill Valley, California real estate market rose again in April 2010 and Mill Valley’s touchstone price band ($1 million to $2 million) has posted another great month. As stated last month, it has been more than three years since buyers have spoken confidently about the market, but they are now. Low interest rates, improved jobs numbers, a string of positive local and regional real estate news stories, and a stronger stock market environment has buyers again feeling secure in the fact that they are buying with a tailwind.

The number of homes for sale in Mill Valley is tapering as we move through the Spring selling season  — we now have 135 homes on the market. Mill Valley’s entry level price bands (under $1,000,000) are as strong as we have seen them over the past couple of years. Perhaps most telling is the fact that the median sales price in Mill Valley for 3 bedroom, 2 bath homes is up 31% from last year.

Mill Valley May 2010

Mill Valley’s 25 sales in April 2010 gave rise to the following averages: an average price of $1,392,360; and about 2,398 sq. ft. (or about $575 per sq. ft.). Note that the price per square foot number is prone to wild swings from month to month. For example, last month, the price per square foot was $640 in Mill Valley. This is because the composition of sales varies dramatically from month to month — at best, price per square foot is a blunt instrument. Homes in Tam Valley, Scott Valley, Sycamore Park, and Country Club generated the most calls this month.

617 Springfield Way in Tam Valley is now on the market. Priced at $865,000, this private home sits on ~1/3 acre at the end of  a serene cul de sac in a magnificent setting. It features 3 bedrooms and 2 baths upstairs, along with a large unit downstairs which would be perfect au pair quarters or income — it has rented out recently for ~$1,000/mo.

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. I am also a member of the Marin Platinum Group with access to dozens of homes not “officially” on the market but available for sale. 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 | Pacific Union International.