Mill Valley Real Estate Report (April 2013 Home Sales Update) | Pacific Union

April 10, 2013

Mill Valley Real Estate Report (April 2013 Home Sales Update) | Pacific Union.  The Mill Valley, CA real estate market has found its way again — the velocity of home sales in March 2013 doubled over February’s figure (up from a ho-hum 15, to an incredible 32). These properties sold for an average price of about $1.143 million and averaged 1,856 sq. ft. (or about $583 per sq. ft.). Like all towns in Marin County (part of what is referred to as San Francisco’s “North Bay” region), Mill Valley home sales continue to be slowed only by a lack of sellers — buyers are everywhere! Multiple offer situations are common with fairly priced homes that come to market. My team has come to expect up to 15 offers in certain price ranges. This momentum extends from the entry level (where investors are very actively pursuing a purchase and rent strategy), but also at luxury levels — 5 homes in currently under contract over $2 million in Mill Valley. Last year, many of these homes were not finding buyers.

As noted in recent market reports (for the past 6 months), the number of listings actively on the market in Mill Valley has decreased to the point of scarcity. As we enter the prime selling season, there are only 44 properties on the market in all of Mill Valley,CA. The absorption rate in Mill Valley currently stands at just a shade over 1 month (6 months is considered “balanced”).

Below are the percentages of homes in escrow in each of Mill Valley’s major price bands:
■52% of homes priced under $800,000;
■81% of homes between $801,000 and $1 million;
■48% of homes between $1 million and $1.5 million;
■64% of homes between $1.5 million and $2 million;
■18% of homes between $2 million and up.

Of the 32 homes that sold in March 2013:
■10 homes were priced under $800,000;
■16 homes priced from $800,000 to $1.5 million; and
■6 homes priced from $1.5 million and up.

MLS Listings in Sycamore Park, Boyle Park, Tam Valley, and Strawberry generated the most calls and showings this past month. If you would like me to run the exact numbers for your Mill Valley neighborhood or if you have any questions about Mill Valley schools or its many delightful communities, just give me a call at (415) 350-9440. My name is Kyle Frazier. I am a Top Agent, J.D., Broker, Realtor, Certified Residential Specialist (CRS), and a Certified Luxury Home Marketing Specialist (CLHMS), with Christie’s Great Estates | Pacific Union International Real Estate. It is always my pleasure to be of service.