Mill Valley, CA. April 2016 | Top Agent | Real Estate Report

April 23, 2016

Mill Valley Top Agent Real Estate Report (April 2016 Home Sales Update) | Pacific Union (click HERE for a video about Mill Valley). For the unaquainted, Mill Valley (just north of the Golden Gate Bridge, across the bay from San Francisco) is widely considered one of the most desirable towns in the Bay Area. Affluent buyers from all walks of life live and thrive here. In terms of th enumber of sales, March 2016 was a fairly slow month with just 12 homes sold (December 2015 had 25 sales). The average sales price of approximately $1.26 million, was also low compared with December. The sold properties of March 2016 averaged 1,725 square feet at $753 per sq. ft. As pricing has increased significantly over the past couple of years, Mill Valley home buyers continue to jump decisively when exceptional properties in desirable locations come to market. Indeed, multiple offers are quite common on such homes, coupled with short contingencies. I expect that this will continue in 2016.

There are currently just 44 single family homes listed for sale in Mill Valley. This is relatively good amount of inventory for this time of year and pins the absorption rate at just under 4 months (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):

  • 40% of homes below $1 million;
  • 52% of homes between $1 million and $1.5 million;
  • 46% of homes between $1.5 million and $2 million;
  • 36% of homes between $2 million and up.

Of the 12 homes that sold in March 2016:

  • 9 homes were under $1.5 million;
  • 3 homes priced from $1.5 million and up.

MLS Listings in Sycamore Park, Tamalpais Park, 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.

Mill Valley Real Estate Report (July 2014 Home Sales Update) | Pacific Union

July 29, 2014

Mill Valley Real Estate Report (July 2014 Home Sales Update) | Pacific Union (click HERE for a video about Mill Valley). Summer is typically slow for Mill Valley real estate sales. This year feels like it is no exception. However, as I was writing this last sentence I took a break to review my Mill Valley Real Estate Reports for July going back to 2007 (YES — I have been writing these updates for over 7 years now). What I found is a little surprising — our Mill Valley sales numbers for June 2014 are actually the highest we have seen in that month for at least 7 years. Let’s take a look back:

In July 2007, the year that most Marin County realtors point to as the apex of home sales in Marin, there were 40 sales. This seems interesting as inventory is so low right now and there are so few homes coming to market under $1 million in Mill Valley, which limits buyer activity at this very hot price point in Southern Marin. Other notes from 2007 — A) the average days on market was 50 days (July 2014 was 31 days); B) the average sales price was $1.76 million (July 2014 was $1.68 million); C) the average price per foot was $702 (July 2014 was $744). Seems to me like the housing market has fully recovered in Mill Valley, CA from the dark days of 2009-2012.

Certainly, the result of low interest rates and even lower inventory is brisk home sales. In June 2014, we had 41 single family home sales. These homes traded on average for $1.682 million and averaged 2,285 sq. ft. (or about $744 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. Despite the sudden rise in pricing in 2013, many properties continue to receive utterly extraordinary multiple offers with bid prices as much as 20% above asking price, coupled with short contingencies. This momentum extends beyond just the entry level homes and int the luxury segment over $2 million (we had 8 homes sell for over $2 million in June 2014, compared with 4 in January).

Just 48 single family homes are currently active on the market in all of Mill Valley. The current absorption rate in Mill Valley is very low — it 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:
■57% of homes priced under $800,000;
■50% of homes between $801,000 and $1 million;
■73% of homes between $1 million and $1.5 million;
■33% of homes between $1.5 million and $2 million;
■13% of homes between $2 million and up.

Of the 41 homes that sold in June 2014:
■2 homes were priced under $800,000;
■22 homes priced from $800,000 to $1.5 million; and
■17 homes priced from $1.5 million and up.

MLS Listings in Homestead Valley, 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.

Kyle Frazier, Pacific Union Int'l

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

January 1, 2012

November 2011 home sales in Mill Valley held steady at 22 trades. These properties sold for an average price of $1.086 million and averaged 2,293 sq. ft. (or about $481 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 Boyle Park, Strawberry, 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.