January 2018 Mill Valley Home Sales Update | Top Agent Real Estate Report | Pacific Union

January 12, 2018

January 2018 Mill Valley Home Sales Update | Top Agent Real Estate Report | Pacific Union. 2018! Already here. Is this the year you move to Mill Valley? We’d love to see you here. As most of you know, Mill Valley is a tiny microcosm of Marin County. Located just north of the iconic Golden Gate Bridge and home to just 14,000 residents, Mill Valley is widely considered one of the most desirable small town real estate jewels in the entire Bay Area  (click HERE for a video about Mill Valley). Affluent buyers from all walks of life are drawn to Mill Valley’s mellow vibe, low crime, good schools (Tamalpais Union HSD is one California’s top High School Districts), excellent outdoor opportunities (Muir Wood, Mt. Tam, and Stinson Beach) and welcoming downtown shopping district with great restaurants and cafes.millparks125x250

December 2017  home sale numbers (we had a healthy 20 sales) were robust given the rarity of listings and time of year. Inventory of homes for sale remains the biggest challenge for buyers. The average sales price of $1,406,876 million reflects the upward trend of prices generally seen in Southern Marin. The sold properties of December 2017 averaged 1,971 square feet at $749 per sq. ft. Despite ongoing upward price movement, Mill Valley home buyers continue acting quickly (and with very strong terms) when exceptional properties in desirable locations hit the market. Multiple offers remain common on such homes, coupled with short contingencies. I expect that this will continue through 2018 — activity so far in 2018 has been very high.

There are currently just 14 single family homes listed for sale in Mill Valley. Mill Valley’s current absorption rate is about a month (4-6 months is considered a “balanced” market). This is about the tightest market I have seen in my 15 years in Marin real estate. Below are the percentages of homes in escrow in each of Mill Valley’s major price bands:

  • 50% of homes below $1 million;
  • 67% of homes between $1 million and $1.5 million;
  • 29% of homes between $1.5 million and $2 million;
  • 33% of homes between $2 million and up.

Of the 26 homes that sold in December 2017:

  • 13 homes were under $1.5 million;
  • 7 homes priced from $1.5 million and up.

MLS Listings in Sycamore Park, Tam Park, 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 Pacific Union International Real Estate. It is always my pleasure to be of service.

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

November 13, 2013

Mill Valley Real Estate Report (November 2013 Home Sales Update) | Pacific Union. Despite incredibly low inventory, the Mill Valley, CA real estate market continues to astound amaze as the number of sold homes remains high. In October 2013, 31 single family properties sold. These homes traded on average for $1.49 million and averaged 2,155 sq. ft. (or about $659 per sq. ft.). Comparing these numbers to past market updates, one can see a dramatic rise in both sale prices and price per foot over the past year with much of the increase taking place early in 2013 and leveling out beginning in June. Like all towns in Marin County, California (San Francisco’s “North Bay” region), the number of Mill Valley home sales (although still strong) is constricted due to low inventory. Indeed, there are many potential buyers are out there, but they lack homes to buy. Multiple offer situations remain common when it comes to fairly priced homes under $1.5 million. My team has come to expect several offers for homes in the lower price points. This momentum extends from the entry level (where investors are very actively pursuing a purchase and rent strategy) to the luxury segment over $2 million as there were 6 homes sold in October 2013 over $2 million.

As noted in virtually all of my market reports thus far in 2013, the number of listings actively on the market in Mill Valley is best characterized as being at a point of scarcity. Although we are in the slow season at this point, there are still just 47 single family homes currently active on the market in all of Mill Valley. The absorption rate in Mill Valley currently stands at about 1.5 months (6 months is considered “balanced”).

Below are the percentages of homes in escrow in each of Mill Valley’s major price bands:
■72% of homes priced under $800,000;
■54% of homes between $801,000 and $1 million;
■42% of homes between $1 million and $1.5 million;
■50% of homes between $1.5 million and $2 million;
■23% of homes between $2 million and up.

Of the 31 homes that sold in October 2013:
■3 homes were priced under $800,000;
■22 homes priced from $800,000 to $1.5 million; and
■6 homes priced from $1.5 million and up.

MLS Listings in Boyle Park, Middle Ridge 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.

Marin Real Estate (January 2011)

January 5, 2011

Welcome 2011! Over the past two days, the stock market has set two year highs on consecutive days (remember the 2008 meltdown?), a headline on CNN Money was “A Hiring Boom in 2011. Really!” and domestic automotive sales were up significantly last month and in the final quarter of 2010. If this all does not sound like recovery and renewed optimism, I don’t know what to think. While the historically low interest rates of October and November 2010 are likely gone for good, rates are still unbelievably low and overall affordability is at its best levels ever recorded.

Hint: time to buy a house if that is in your plans.

As with every year, January brings with it lower residential real estate inventory levels in Marin County, California. There are currently 524 active listings as this time of year is historically slow for home sales — everybody is recuperating from the holiday season and beginning to finalize plans for the coming year. Spring is around the corner and activity is already high at our new home development in Novato.

Click HERE for the rest of the report, courtesy of NorthBayRE.com

Marin Real Estate (October 2010)

November 12, 2010

Overall in Marin County, the bottom for pricing seems to have formed. The average price of a Marin County single family home has once again surpassed $1 million. In addition, for the seventh consecutive quarter (since Q1 ‘09) both the average and median price of a single family home has experienced modest appreciation.

Possibly the most interesting phenomenon is this modest price appreciation (2% per annum) occurring in a market of significantly lower units closed.  The number of homes sold in third quarter ‘10 under $1 million fell -16% from the same period a year ago. The number of homes sold over $1 million fell -3% from the same period last year after a -36% drop from Q3 ‘08 to Q3 ‘09. What this tells us is that while the number of sales has slowed dramatically in the past two years, prices have now firmed and we have caught a glimpse of the bottom.

Buyers continue to be cautious and generally only take action on well maintained, well priced homes. Sellers’ pricing of their homes remains critical as buyers feel most comfortable when the list price is within 3% – 5% of fair market value.

Marin Real Estate (July 2010)

July 26, 2010

We have multiple economic drivers and underlying fundamentals that impact our local real estate
markets. Housing prices, interest rates, job growth and inflation/deflation are significant variables in
the Bay Area housing market. While we could not predict either the economic shift that began in
August 2007 or the duration of the economic volatility caused by the shift, we do have a few very
positive fundamentals present today.
Interest rates for conforming mortgages ($729,750) and jumbo mortgages are currently at historic
lows since Freddie Mac started recording in 1971 – see rates in the mortgage rate table on page
two. Housing prices remain 20% – 40% off the 2006 / 2007 peak. Inflation is constrained mainly via
Federal Reserve policy and finally, the San Francisco Bay Area job market, while at a 20-year high
for unemployment has stabilized (10.5%) and may be illustrating signs of stability / modest growth.
Whether cyclical, seasonal or “bouncing across the bottom”, our real estate markets remain
volatile and somewhat unpredictable but they are showing early signs of demand returning to the
market versus the 2006 / 2007 peaks. Many of our indicators have turned positive (“green”) for the
first time in nearly two years. The most encouraging indicator is volume (units and $) returning to the
market. Although we are comparing statistically to Q2 2009 which was arguably the second worst
quarter we may have seen in recent history; the increasing volume is a reflection of client
confidence and a precursor to long term stability and ultimately appreciation. The charts on the
inside pages provide more specifics on the local markets.
I see opportunity in our real estate markets every day. My efforts are always focused on
balancing your priorities for a home, your investment and budget tolerances versus the
dynamics in each local market we serve. I strive to match these investment criteria with my
experience, market knowledge and timing to provide the best advice to you and your family.
Please call on me to review your thoughts on our real estate markets.

Marin Real Estate (June 2010)

July 26, 2010

Year over year prices seem to have leveled in many price segments and locations within Marin — some areas have even seen prices increase (albeit nominally). Countywide supply and demand figures suggest an improving real estate environment. Supply is up 12% from last year and sales of entry level (3 bedroom, 2 bath homes with at least 1,500 square feet and priced under $1 million) are up a modest 10% from May 2009. Recent news reports in the local media have noted increased median prices, but that reflects the fact that luxury homes are selling once again after a lackluster 2009. I do not believe prices overall are increasing yet.

[For the rest of the article, Click HERE.]

Marin Real Estate (May 2010)

July 26, 2010

We at Pacific Union International in Marin County, California continue to feel as though the 2010 real estate market is vastly different from that of 2009. Year over year prices seem to have leveled in most price segments and locations within Marin — some areas have even seen prices increase (albeit nominally). Countywide supply and demand figures suggest an improving real estate environment. Supply is up 7%. But the number of sales of 3 bedroom, 2 bath homes with at least 1,500 square feet and priced under $1 million,  are up an incredible 191% from April 2009.

As noted in various recent articles, much of the strength in today’s home sales market stems from the red-hot entry level market segment. As would be expected, with relatively flat inventory and more sales, the absorption rate (e.g., the number of month’s worth of inventory) continues hovering at about 3 months for entry level homes. This is very low. Attractive loan terms and a pervasive sense among buyers that we have hit bottom, is resulting in sales. While in other parts of the country the first time hoe buyer credit has fueled sales, that incentive has had a minimal impact in Marin because of the relatively low income thresholds required to qualify. Below is a chart tracking escrows — roughly one-third of homes are in escrow (and this includes ALL homes in every price band).


  • Kyle Frazier, Broker Associate, Certified Residential Specialist (CRS), Certified Luxury Home Marketing Specialist (CLHMS), Realtor
  • Christie’s Great Estates | Pacific Union International Marin
  • (415) 350-9440
  • E-Mail Kyle Frazier

Marin Real Estate (April 2010)

April 30, 2010

The sun is out and spring sports are underway – it is officially real estate season. We have reviewed cyclical and seasonal trends in MarinCounty in an effort to predict the balance of 2010. We are more optimistic today than we have been in twenty four months. It seems consumer demand for Marin and San Francisco real estate is regaining its stride. While some real estate decisions can be postponed, eventually buyers need to buy and sellers need to sell. New listings and new escrows are both up over 100% since the turn of the year.

April 2009 marked the inflection point when buyers began cautiously re-engaging with the Marin County real estate market. A year later, Q1 2010 results for volume ($) and units (#) are up significantly in the core of the market. Like the job market, the first quarter of 2010 may also indicate the stabilization of pricing; a required first step in our market’s recovery. As we look forward in 2010 we are encouraged by the recent increase in MarinCounty (and Bay Area-wide) new inventory (listings). Since March 1st, MarinCounty has seen over 450 new listings. Over 175 of these homes have list prices in excess of $1 million.

We continue to analyze buyer behavior and sense their confidence when properties are well priced, staged, and properly presented. Buyers are dismissive of homes that are “over-priced” in order for sellers to leave room for “negotiations”.

[Click HERE for the rest of the article, courtesy of www.NorthBayRE.com.]

Marin Real Estate (March 2010)

March 29, 2010

The Marin County, California real estate market continues evidencing traction. Year over year prices seem to have leveled in most price segments and locations within Marin — some areas have even seen prices increase (albeit nominally). Countywide supply and demand figures suggest an improving real estate environment. Supply is down 26% and sales of 3 bedroom, 2 bath homes with at least 1,500 square feet and priced under $1 million,  are up an incredible 75% from February 2009. Nearly all recent statistics point to an improved sales environment in 2010.

[Click HERE for the rest of the article, courtesy of www.NorthBayRE.com.]

Marin Real Estate (February 2010)

March 29, 2010

The Marin County, California real estate market, which entered the new year with momentum, seems to have achieved traction. While year over year prices are down in many price segments and locations within Marin, some areas have actually seen prices increase (albeit nominally). Indeed, countywide supply and demand figures suggest an improving real estate environment as supply is down 24% and sales are up 29%, compared with last year (the numbers are for homes with at least 3 beds, 2 baths, 1,500 square feet, and priced under $1 million).

Marin County (Supply and Demand 2-10)

Much of the apparent strength evident today stems from the red-hot Novato market.

[Click HERE for the rest of the article, courtesy of www.NorthBayRE.com.]

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