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

September 6, 2013

Mill Valley Real Estate Report (August 2013 Home Sales Update) | Pacific Union. The Mill Valley, CA real estate market continues to ascend to heights not seen for years. In July 2013, 43 single family homes sold. These properties traded on average for $1.27 million and averaged 2,170 sq. ft. (or about $638 per sq. ft.). Comparing these numbers to past market updates, it is readily apparent that we are seeing a spike in both sale prices and price per foot. Like all towns in Marin County, California (San Francisco’s “North Bay” region), the number of Mill Valley home sales is suppressed by low number of homes for sale — buyers are out there, but they have few options. Multiple offer situations remain common when it comes to fairly priced homes under $1.5 million. My team has come to expect up to 15 offers for homes in the lower end. 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 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. Entering the post Labor Day market (when things usually pick up in Marin County), there are still just 45 single family homes currently active on the market in all of Mill Valley. The absorption rate in Mill Valley currently stands at about 1 month (6 months is considered “balanced”).

Below are the percentages of homes in escrow in each of Mill Valley’s major price bands:
■69% of homes priced under $800,000;
■82% of homes between $801,000 and $1 million;
■31% of homes between $1 million and $1.5 million;
■25% of homes between $1.5 million and $2 million;
■12% of homes between $2 million and up.

Of the 43 homes that sold in July 2013:
■4 homes were priced under $800,000;
■31 homes priced from $800,000 to $1.5 million; and
■8 homes priced from $1.5 million and up.

MLS Listings in Tam Valley, Sycamore Park, Boyle Park, 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.

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

May 28, 2013

Mill Valley Real Estate Report (May 2013 Home Sales Update) | Pacific Union. The Mill Valley, CA real estate market is flourishing with 33 single family home sales in April 2013. These properties sold for an average price of about $1.273 million and averaged 2,139 sq. ft. (or about $600 per sq. ft.). Like all towns in Marin County, California (San Francisco’s “North Bay” region), Mill Valley home sales are only dampened by a lack of sellers — buyers are eager to buy, but there are few options. Multiple offer situations are increasingly common with fairly priced homes. My team has come to expect up to 15 offers for homes in the lower end. This momentum extends from the entry level (where investors are very actively pursuing a purchase and rent strategy), but also at luxury levels — as was the case last month, we have 5 homes currently under contract over $2 million in Mill Valley. This market segment was virtually non-existant the last several years.

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 roll out of the primary spring selling season, there are only 42 properties currently on the market in all of Mill Valley. 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:
■67% of homes priced under $800,000;
■56% of homes between $801,000 and $1 million;
■43% of homes between $1 million and $1.5 million;
■53% of homes between $1.5 million and $2 million;
■26% of homes between $2 million and up.

Of the 33 homes that sold in April 2013:
■7 homes were priced under $800,000;
■16 homes priced from $800,000 to $1.5 million; and
■10 homes priced from $1.5 million and up.

MLS Listings in Homestead Valley, Sycamore Park, 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.

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

February 20, 2013

Mill Valley’s real estate market has continued to post extremely positive numbers into the New Year — the sales total for January 2013 was 13. These properties sold for an average price of about $1.105 million and averaged 1,887 sq. ft. (or about $594 per sq. ft.). Like all towns in Marin County, Ca, Mill Valley home sales have been supressed by a very low inventory of homes for sale. Despite the scarcity of homes available, however, pricing remains the key variable determining buyer interest levels and salability. For now, buyers continue to expect readily apparent value (with an emphasis on turn key homes). If Buyers do not see apparent value in a particular property, they seem to be more than willing to wait for something new. Interestingly, homes priced over $2 million in Mill Valley are not selling — just 7% of these are in escrow compared with over 75% of homes in escrow under $1 million. Clearly, while the market is on the mend in the entry level, buyers are not yet convinced of value in the luxury sector. I predict this will change in coming months as move-up buyers begin flexing their buying instincts.

As noted in my market reports for the past 8 months, the number of listings actively on the market in Mill Valley has decreased to the point of extreme scarcity (there are only 29 homes on the market in all of Mill Valley,CA as of this writing). The absorption rate in Mill Valley currently stands at 2 months (6 months is considered “balanced”).

About Mill Valley Video (click on the above)

As is evidenced by virtually all criteria — market data, real estate forecasts, and buyer demand — the overall health for Mill Valley real estate improved dramatically over the course of 2012. One of the most promising metrics is the upswing in sales in Mill Valley’s “wheelhouse” price bracket of $1.25 mil to $1.75 mil. For many months, if not several years, the number of sales in this traditionally strong Mill Valley price bracket were low — yet the past few months saw an improved market for such homes.

The percentages of home in escrow are:
up to $800K — 81%
$800-$1 mil — 73%
$1 mil to $1.5 mil — 60%
$1.5 mil to $2 mil — 50%
$2mil & Up — 7%

Listings in Marinview, Boyle Park, Tam Valley, and Cascade Canyon generated the most calls this month. Well-priced homes are generating multiple offers — one home garnered over 30 offers last 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. I am also a member of the Top Agent Network and 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, e-mail me. It is always my pleasure to be of service. Christie’s International Real Estate | Pacific Union International | Mill Valley, CA.

Mill Valley Real Estate Report (November 2012 Home Sales Update) | Pacific Union International

November 21, 2012

Our Mill Valley, California real estate market continues to shine as sales during the month of October 2012 numbered 31. These properties sold for an average price of about $1.4 million and averaged 2,516 sq. ft. (or about $574 per sq. ft.).  While, similar to the rest of Marin, an extremely low inventory of homes for sale continues to negatively impact potential sales numbers, pricing remains the key ingredient determining buyer interest levels and salability. As much as ever, buyers continue to insist on undeniable value with an emphasis on turnkey homes. If they don’t see it in a particular property, they will continue to wait. The number of listings actively on the market in the MLS has decreased to the point of extreme scarcity (there are only 45 homes on the market in all of Mill Valley as of this writing). The absorption rate in Mill Valley currently stands at just over 1 month (6 months is considered “balanced”).

As is evidenced by virtually all criteria — market data, real estate forecasts, and buyer demand — the overall health for Mill Valley real estate has improved dramatically over the course of 2012. One of the most promising metrics is the upswing in sales in Mill Valley’s “wheelhouse” price bracket of $1.25 mil to $1.75 mil. For many, many months, the number of sales in this traditionally strong Mill Valley price bracket were low. Yet last month alone, 14 trades took place in this range.

The percentages of home in escrow are:

  • up to $800K — 73%
  • $800-$1 mil — 38%
  • $1 mil to $1.5 mil — 56%
  • $1.5 mil to $2 mil — 30%
  • $2mil & Up — 13%

Listings in Boyle Park, Homestead Valley, Sycamore Park, and Cascade Canyon generated the most calls this month. Well-priced homes continue to generate multiple offers. 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. I am also a member of the Top Agent Network and 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, e-mail me. It is always my pleasure to be of service. Christie’s International Real Estate | Pacific Union International | Mill Valley, CA.

Mill Valley Real Estate Report (June 2012 Home Sales Update) | Pacific Union International

July 2, 2012

Mill Valley, California real estate sales slowed during the month of May 2012 — we experienced 30 trades (down from 34 in April 2012). These properties sold for an average price of $1.143 million and averaged 1,950 sq. ft. (or about $574 per sq. ft.).  While, similar to the rest of Marin, low inventory of homes for sale continues to slow the pace of sales, pricing remains the key ingredient determining buyer interest levels and salability. Despite the low inventory, buyers continue to insist on readily apparent and undeniable value. If they don’t see it in a particular property, they are willing to wait. The number of listings actively on the market in the MLS has decreased to the point of extreme scarcity. In fact, because of the low inventory, virtually every home that comes to the MLS receives multiple offers (unless priced above true market value) — anecdotal tales of froth in the market include homes with 5 to 15 offers over the past couple of months.

As is evidenced by recent market data, real estate forecasts, and buyer demand, the overall picture for Mill Valley, CA real estate has improved dramatically over the past 6-8 months. One of the most promising metrics is the upswing in sales in Mill Valley’s “wheelhouse” price bracket of $1.25 mil to $1.75 mil. For many, many months, sales in this traditionally strong price bracket were dormant. Yet last month alone, 15 trades took place in this range. I anticipate greater activity in the months to come.

The percentages of home in escrow are:

  • up to $800K — 70%
  • $800-$1 mil — 58%
  • $1 mil to $1.5 mil — 55%
  • $2mil. & Up — 22%

Listings in Strawberry, Homestead Valley, Sycamore Park, and Tam Valley generated the most calls this month. Well-priced homes continue to generate multiple offers. 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. I am also a member of the Top Agent Network and 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, e-mail me. It is always my pleasure to be of service. Christie’s International Real Estate | Pacific Union International | Mill Valley, CA.

Mill Valley Real Estate Report (March 2012 Home Sales Update) | Pacific Union International

March 24, 2012

February 2012 home sales in Mill Valley dipped to a mere 14 trades. These properties sold for an average price of $1.051 million and averaged 2,405 sq. ft. (or about $460 per sq. ft.).  Pricing remains the key ingredient determining buyer interest levels and salability. Buyers continue to insist on readily apparent and undeniable value. If they don’t see it in a property, they are willing to wait it out. The number of listings actively on the market in the MLS has decreased to the point of scarcity. There is extraordinarily low inventory; buyers and agents alike are clamoring for sellers to get their homes to market.

Listings in Strawberry, Middle Ridge, Sycamore Park, and Tam Valley generated the most calls this month. Well-priced homes continue to generate multiple offers. 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. I currently have several clients who want to sell, but are waiting in the wings for Spring 2012. Please contact me to determine if any of these opportunities fit your needs. I am also a member of the Top Agent Network and 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, e-mail me. It is always my pleasure to be of service. Christie’s International Real Estate | Pacific Union International Mill Valley, CA.

Mill Valley Real Estate Report (January 2012 Home Sales Update) | Pacific Union International

January 30, 2012

December 2011 home sales in Mill Valley dipped to just 18 trades. These properties sold for an average price of $1.196 million and averaged 2,202 sq. ft. (or about $496 per sq. ft.).  Pricing remains the key ingredient determining buyer interest levels and salability. Buyers continue to insist on readily apparent and undeniable value. If they don’t see it in a property, they are willing to wait it out. The number of listings actively on the market in the MLS has decreased to the point of virtual . This is extraordinarily low inventory even for this time of year.

Listings in Strawberry, Middle Ridge, Sycamore Park, and Tam Valley generated the most calls this month. Well-priced homes continue to generate multiple offers. 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. I currently have several clients who want to sell, but are waiting in the wings for Spring 2012. Please contact me to determine if any of these opportunities fit your needs. I am also a member of the Top Agent Network and 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, e-mail me. It is always my pleasure to be of service. Christie’s International Real Estate | Pacific Union International Mill Valley, CA.

Mill Valley Real Estate Report (October 2011 Home Sales Update) | Pacific Union International

November 11, 2011

September 2011 home sales in Mill Valley dipped to just 21 trades (this is reflective of the traditional slowdown related to Summer — e.g., because few homes go into escrow in August, there are few closings in September). These properties sold for an average price of $1.246 million and averaged 2,344 sq. ft. (or about $539 per sq. ft.).  Pricing remains the key ingredient determining buyer interest levels and salability. Buyers continue to insist on readily apparent and undeniable value. If they don’t see it in a property, they are willing to wait it out. The number of listings actively on the market in the MLS has decreased to 83 homes. This is extraordinarily low inventory even for this time of year.

The percentage of homes in escrow are:

  • Under $800,ooo — 48%
  • $800,000 to $1 million — 19%
  • $1 million to $1.5 million — 25%
  • $1.5 million to $2 million — 13%
  • Above $2 million — 14%

Listings in Sycamore Park, Boyle Park, and Tam Valley generated the most calls this month. Well-priced homes continue to generate multiple offers.

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. I currently have several clients who want to sell, but are waiting in the wings for Spring 2012. Please contact me to determine if any of these opportunities fit your needs. I am also a member of the Top Agent Network and 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, e-mail me. It is always my pleasure to be of service. Christie’s International Real Estate | Pacific Union International Mill Valley, CA.

Mill Valley Real Estate Report (Pacific Union November 2010 Home Sales Update)

November 23, 2010

October 2010 home sales in Mill Valley totaled 20. These trades sold for an average price of $997, 159 (this figure is much lower than normal as last month’s sales were nearly all under $1.5 million, which is somewhat unusual — September sales averaged $1,307,026) and the homes averaged 2,065 sq. ft. (or about $501 per sq. ft.).  It seems September 2010’s sales reflected extreme buyer caution as 19 of the 20 sales were under $1.5 million — on any given month we would expect about 1/2 the sales to be over $1.5 million. Certainly the 13 sales under $1 million helped to clear out some lingering inventory in this entry level price band.  The number of listings actively market on the MLS is on the low side (103) as many sellers have decided to take their homes off the market as Winter sets in.

The percentage of homes in escrow:

  • Under $800,ooo — 46%
  • $800,000 to $1 million — 21%
  • $1 million to $1.5 million — 33%
  • $1.5 million to $2 million — 27%
  • Above $2 million — 0%

Listings in Strawberry and Sycamore Park 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. I currently have several clients who want to sell, 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 e-mail me at Kyle@MillValley101.com.It is always my pleasure to be of service. Christie’s Great Estates | Pacific Union International.

Pacific Union Real Estate Mill Valley CA. Real Estate Report (July 2010 Home Sales Update)

July 24, 2010

The number of homes sold in the Mill Valley, California real estate market rose and Mill Valley’s touchstone price band ($1 million to $2 million) posted another solid month. In contrast to the previous three years, buyers now speak confidently about our market, recognizing that prices have tumbled significantly, interest rates are extraordinary, jobs numbers have improved, and media coverage concerning real estate has turned positive. Moreover, we are seeing an improved marketplace in San Francisco which is the bellweather for Mill Valley and Marin.

The number of homes for sale in Mill Valley is down incrementally to 143. After the brief slow period in the Summer we can expect increasing inventory after Labor Day. 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. Moreover, bread and butter homes of $1.5 mil. and up remain strong and that market segment exhibits undeniable leading indicators of a strengthening market. The chart below tracks prices of “for sale” and “sold” homes at or above $1.5 million compared with last year. Indeed, asking prices are down 6% and sales prices are up 17%. This trend is not evident in every price band.

mill-valley-july-2010

Mill Valley’s 24 sales in June 2010 gave rise to the following averages: an average price of $1,239,025; and about 2,273 sq. ft. (or about $597 per sq. ft.). Note that the price per square foot number is prone to wild swings from month to month. For example, three months ago, 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.

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 sell, 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.

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