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 (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.

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

March 21, 2013

Mill Valley Real Estate Report (March 2013 Home Sales Update) | Pacific Union International. The Mill Valley, CA real estate market continues to climb out of the the real estate downturn — our number of home sales in February 2013 was an impressive 15. These properties sold for an average price of about $1.124 million and averaged 2,013 sq. ft. (or about $599 per sq. ft.). Like all towns in Marin County (San Francisco’s North Bay), Mill Valley home sales are being supressed by an unprecedented lack of homes for sale. The lack of inventory and once-in-a-lifetime constellation of favorable factors for buyers is resulting in multiple offers for most properties that come to market. I have recently experienced several homes with over 15 offers. The momentum is not only present in the entry level (where investors are very actively pursuing a purchase and rent strategy), but also (increasingly) at higher price points — currently we have 5 homes in escrow which are priced over $2 million in Mill Valley. Until very recently, these homes were not finding buyers. The trickle up phenomenon (e.g., buyers buying up after selling their homes) and year end bonuses are both factors in this price point.

As noted in my market reports, the number of listings actively on the market in Mill Valley has decreased to the point of extreme scarcity. Even though we are quickly approaching the prime selling season, there are only 35 homes on the market in all of Mill Valley,CA as of this writing. The absorption rate in Mill Valley currently stands at just a shade over 2 months (6 months is considered “balanced”).

Below are the percentages of homes in escrow in each of Mill Valley’s major price bands:
■82% of homes priced under $800,000;
■83% of homes between $801,000 and $1 million;
■57% of homes between $1 million and $1.5 million;
■36% of homes between $1.5 million and $2 million;
■26% of homes between $2 million and up.

Of the 23 homes that sold in February 2013:
■3 homes were priced under $800,000;
■10 homes priced from $800,000 to $1.5 million; and
■2 homes priced from $1.5 million and up.

Homes 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 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 (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.

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

August 31, 2010

The number of homes sold in the Mill Valley, California real estate market rose once again and Mill Valley’s touchstone price band ($1 million to $2 million) posted another solid month. For the most part,  buyers now speak confidently about our market as it is truly a unique time in history to buy discounted homes with virtually free money.

Nonetheless, recent national media coverage has focussed on the slowdown in the number of sales nationwide, giving some buyers pause. But, Mill Valley is not Detroit or Las Vegas. The first time home buyer tax credit never impacted Mill Valley in a significant way. And it is because of the cessation of that credit that the number of homes sold went down on a month to month basis — it is no surprise. But again, Mill Valley is not Detroit or Las Vegas.

In fact, what the media failed to note was that sales of $1 million homes was UP 6.7% nationwide as affluent buyers took advantage of the great prices and interest rates available to them.

Take a look at the graph below reflecting sales activity in Mill Valley over $1.5 million in July 2010. Not only is the number of homes for sale down by 9%, but the median sales price for homes sold at or above $1.5 million is up 45%. They say things are “different” here — thank goodness they are right.

Mill Valley Luxury Home Sales July 2010

Overall, the number of sales in Mill Valley last month (July 2010) was UP 25% (from 24 sales in June to 30 in July 2010). Sales of homes over $1.5 million held steady with 8 (note that we have seen 14 sales over $2 million in the past 2 months — there were just 21 such sales in all of 2009). Moreover, we are seeing an improved marketplace in San Francisco which is the bellweather for Mill Valley and Marin.

Mill Valley’s 30 sales in July 2010 gave rise to the following averages: an average price of $1,345,776; and about 2,428 sq. ft. (or about $569 per sq. ft.). Note that the price per square foot number is prone to wild swings from month to month. For example, a few months ago, the price per square foot was $640 in Mill Valley. This is because the composition of sales varies 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.

Mill Valley CA Real Estate Market Report (April 2009 Home Sales Update)

April 16, 2009

Readers of my monthly reports on Mill Valley, CA. are well aware of my love for Mill Valley. They are also among the most informed consumers of Marin real estate (why else would they be reading my blog?). As such, despite my bias favoring Mill Valley, these consumers KNOW that Mill Valley presents serious value — right here, right now. This is true for every price band. 

Here are some numbers to contemplate: (1) just eleven homes sold in Mill Valley last month — a slow market; (2) of the eleven homes that sold, four were priced under $800K; (3) the bread-and-butter price band is experiencing an abysmal 8% to 13% escrow rate; (4) the current absorption rate (AR) for homes in Mill Valley’s sweet spot (homes priced between $1 million and $2 million) is an amazingly high 17.25 months. 

Note to buyers: write offers! A closed mouth does not get fed. Ask and you shall receive. Life happens and people have to sell their homes. Last night on Larry King, Donald Trump said that he has never seen a window of opportunity like this one and that this is the best time to buy real estate he has ever seen. Whatever you think of the source, can you really disagree? Don’t have a down payment? If not, do what it takes and put one together. Interest rates will shoot up at some point, evaporating affordability.

If you would like my Mill Valley Hot List, call or e-mail me: (415) 350-9440 | Kyle@MillValley101.com.  

For several months my Mill Valley, CA, real estate report has noted that the market “is strangely out of sync,” buyers “are taking a few pitches to see what happens,” and I have also aired my suspicions about “undercover buyers” who are ready to buy and want to buy the “right” home. More than ever, I believe this is all true. And all I can say is “write offers.” 

Real Estate Market Chart by Altos Research www.altosresearch.com

As evidenced by the above graph, The median price per square foot has dipped to about $625 per sq. ft. (which is down from well over $800 in mid-2007). While some buyers believe prices may slip a bit more, as noted above, most appreciate the fact that interest rates are very appealing. Indeed, mortgage math punishes those who don’t lock in at or near the lowest rate possible. For example, if prices dip another 5% and interest rates go up just 1%, the monthly payment would increase rather significantly for an $800K home with 20% down (call me for exact numbers relating to a given situation). 

Down from March 2009, the percentage of homes in escrow under $800,000 slipped to 26% (it had been as low as 15% in November 2008). I have a fixer listed in Homestead Valley that is a super value play (3 Beds/3 Baths, 14,000 sq. ft. lot backing Molino Park).

Based on last month’s sales total of eleven, we currently have an overall inventory of homes (AR) sufficient to last about 12 months in Mill Valley, CA.  Overall, the number of homes for sale rose to 122 (way up from 90 a month ago). The number of “bead and butter” homes (those priced between $1 million to $2 million) currently in escrow is a mere 9 — (which is low, but there were just 3 in escrow in February 2009). Meanwhile, the luxury market in Mill Valley (homes from $2 million and up remains drowsy — just a single luxury home closed last month, but there are three currently in escrow. 

Price Range

Total Active Homes

Pending Listings

Up to $750K

14 (up 6)

26%

$750K – $1 mil.

20 (down 7)

20%

$1 mil. – 1.5 mil.

40 (up 7)

9%

$1.5 mil. – $2 mil.

22 (up 7)

8%

$2 mil. – $4 mil.

21 (up 2)

13%

$4 mil. & Up

4 (up 1) 

0% 

Of the 11 sales to close escrow in March 2009, they averaged 119 days on the market and sold for an average price of about $1.25 million with about 2,047 sq. ft. (or about $645 per sq. ft.). Homes in Homestead Valley, Sycamore Park, Middle Ridge, and Strawberry 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. It is always my pleasure to be of service.

p.s. I currently have a couple potential sellers waiting in the wings with homes not on the MLS, please contact me to determine if any of these opportunities fit your needs.

Mill Valley, California (Public Schools)

October 3, 2008

Our Mill Valley public schools are fantastic. From test scores to parental involvement, there is a high level of performance and acheivement. Click on the links below to learn more about Mill Valley schools.

School
Principals Maps Contacts
Edna Maguire School Lisa Zimmer 80 Lomita Dr. Mill Valley 94941 389-7733
Mill Valley Middle School Matt Huxley, PrincipalAnna Lazzarini, Asst. Principal 425 Sycamore Ave. Mill Valley 94941 389-7711
Old Mill School
Jane McDonough 352 Throckmorton Ave. Mill Valley 94941 389-7727
Park School Peg Minicozzi 360 East Blithedale Ave. Mill Valley 94941 389-7735
Strawberry Point School Leslie Thornton 117 E. Strawberry Drive Mill Valley  380-2490
Tam Valley School Gail van Adelsberg 350 Bell Lane, Mill Valley 94941 389-7731
Tamalpais High School Tom Drescher 700 Miller Avenue, Mill Valley 94941 380-3510

For a complete report covering the performance of all Marin County: Star Report (Marin Test Scores).

Which School Will My Child Go To?
While parents have the opportunity to state a preference for a particular school, actual placement, is dependent on the following criteria:
Siblings of currently enrolled students residing in the District are considered residents of the sibling’s school and will be enrolled in that school if they wish and if there is space. 
For new students, assignment occurs in the following priority order:

  • District placement needs (including facility capacities and class sizes across grade levels and schools; identified special education needs)
  • Facility capacity
  • Class sizes
  • Proximity of residence to the preferred school
  • Interdistrict attendance

What if My Child Does Not Get Into the Preferred School?
When demand exceeds capacity a waiting list is established and parents may exercise their option to have their child’s name placed on the list.  Additional placements in a school may be taken from the waiting list but may not be made until August. 
Questions? Call 415.389.7700.

Schools of Mill Valley

September 3, 2008

One of the best things about Mill Valley is its schools. They are some of the very best California has to offer. In addition to the top scores on standardized tests consistently acheived by Mill Valley schools, parental support and involvement is high.