Mill Valley Real Estate Report (March 2015 Home Sales Update) | Pacific Union

March 22, 2015 by  

Mill Valley Real Estate Report (March 2015 Home Sales Update) | Pacific Union (click HERE for a video about Mill Valley). Similar to Mill Valley January’s slow real estate sales environment, February 2015 continued in that vein. During February 2015, Mill Valley experienced just 14 single family home sales. While the number of sales was low, however, the prices of homes sold rose dramatically. These homes sold for an average price of $1.769 million — up nearly $500,000 from January’s 1.285 million. The properties averaged 2,492 sq. ft. (or about $710 per sq. ft.). Over the past few months, as prices have risen, it has become evident that Mill Valley home buyers have become somewhat less enthusiastic about home prices. Nonetheless, properties in desirable locations and with reasonably calculated pricing strategies continue to receive multiple offers with bid prices well above asking price (indeed, multiple offers are becoming more common on such homes), coupled with short contingencies.

There are 33 single family homes currently active on the market in Mill Valley (up from 19 last month). The current absorption rate in Mill Valley is low with just over 2 months of homes (6 months is considered “balanced”).

Below are the percentages of homes in escrow in each of Mill Valley’s major price bands (note that due to increased prices, I have eliminated the “under $800,000″ price level in my analyses):

  • 58% of homes below $1 million;
  • 55% of homes between $1 million and $1.5 million;
  • 45% of homes between $1.5 million and $2 million;
  • 52% of homes between $2 million and up.

Of the 14 homes that sold in February 2015:

  • 8 homes were under $1.5 million;
  • 4 homes priced from $1.5 million and up.

MLS Listings in Homestead Valley, Boyle ParkMiddle Ridge and Strawberry neighborhoods 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.

Kyle Frazier, Pacific Union Int'l

Comments

Comments are closed.