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

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 (September 2011 Home Sales Update) | Pacific Union International

August 2011 home sales in Mill Valley rose to 37 trades (pretty strong number considering the Summer is normally very slow for Marin County real estate)). These properties sold for an average price of $1.229 million and averaged 2,328 sq. ft. (or about $530 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 increased as we enter the slower Summer season to 106. The percentage of homes in escrow:

• Under $800,ooo — 43%
• $800,000 to $1 million — 31%
• $1 million to $1.5 million — 37%
• $1.5 million to $2 million — 11%
• Above $2 million — 19%

Listings in Strawberry, Boyle Park, Middle Ridge, and Homestead 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 2011. 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 Great Estates | Pacific Union International Mill Valley, CA.

Mill Valley Real Estate Report (Pacific Union March 2011 Home Sales Update)

February 2011 home sales in Mill Valley climbed ever-so-slightly to 15 (up from 13 in January). These trades sold for an average price of $903,927 and averaged 2,151 sq. ft. (or about $453 per sq. ft.).  While anecdotally we are hearing about increased activity, the fact remains that pricing is key. Buyers insist on 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 remains very low at 72. I suspect once the current rainy spell ends (it looks like it is supposed to rain non-stop for another weeks), we will see inventory balloon. It will be interesting to see how sales play out in Q2 as it appears that bonuses for employees working in the San Francisco financial sector may spur bread-and-butter and luxury sales in our highly desirable city.

The percentage of homes in escrow:

• Under $800,ooo — 48%
• $800,000 to $1 million — 24%
• $1 million to $1.5 million — 33%
• $1.5 million to $2 million — 20%
• Above $2 million — 0%

Listings in Boyle Park and Homestead Valley 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 for Spring 2011. 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 Great Estates | Pacific Union International Mill Valley, CA.

Mill Valley Real Estate Report (Pacific Union January 2011 Home Sales Update)

Pacific Union International Mill Valley CA. Real Estate Market (May 2010 Home Sales Update)

The number of homes sold in the Mill Valley, California real estate market rose again in April 2010 and Mill Valley’s touchstone price band ($1 million to $2 million) has posted another great month. As stated last month, it has been more than three years since buyers have spoken confidently about the market, but they are now. Low interest rates, improved jobs numbers, a string of positive local and regional real estate news stories, and a stronger stock market environment has buyers again feeling secure in the fact that they are buying with a tailwind.

The number of homes for sale in Mill Valley is tapering as we move through the Spring selling season  — we now have 135 homes on the market. 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. Perhaps most telling is the fact that the median sales price in Mill Valley for 3 bedroom, 2 bath homes is up 31% from last year.

Mill Valley’s 25 sales in April 2010 gave rise to the following averages: an average price of $1,392,360; and about 2,398 sq. ft. (or about $575 per sq. ft.). Note that the price per square foot number is prone to wild swings from month to month. For example, last month, 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.

617 Springfield Way in Tam Valley is now on the market. Priced at $865,000, this private home sits on ~1/3 acre at the end of  a serene cul de sac in a magnificent setting. It features 3 bedrooms and 2 baths upstairs, along with a large unit downstairs which would be perfect au pair quarters or income — it has rented out recently for ~$1,000/mo.

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 be sellers, 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 (August 2009 Home Sales Update)

The Mill Valley, CA. real estate market remains predictably unpredictable — after just 17 sales in May 2009, we had a robust 29 sales in June 2009, followed by 22 sales in July 2009. As I noted in last month’s report, the decline in sales numbers this month was expected as families focus more on vacations and outside activities. And September will bring even fewer home sales, along with a moderate rise in inventory and increased buyer activity.

Over the past quarter in much of Marin County, it has become apparent that asking prices have halted their downward spiral. As is evident in the graph below, which tracks the median price per square foot (down from $740 to $615), in Mid-June 2009 prices flattened out in Mill Valley. It will be interesting to see whether this flattening out carries over into the sales prices of homes trading this Fall and Winter.

Based on last month’s sales total of 22, we currently have an overall inventory of homes sufficient to last about 5.45 months (up from 4.6 months in July 2009) — this is called the absorption rate. This is a HUGE reduction from the absorption rate from May 2009, which stood at well over 8 months. A big reason for the lower absorption rate is the reduced inventory as sellers removed thier homes from the market for the Summer — we currently have just 120 active listings.

While not discussed by most real estate agents, the absorption rate is an important barometer of market health. Below is a graph showing that in 2009, Mill Valley has consistently outperformed 2008 in terms of homes absorbed. Thus, while many agents seem despondent and unenthusiastic about the market, the truth is that things are much better than last year and continue improving. I predict that sales activity will increase significantly in the late Fall and into the Winter months, not only because of continued favorable interest rates, but also because I think there are many “real buyers” out there who have been waiting for “a sign” to buy — I don’t know what that sign will be (there are likely to be many “signs”), but it will come soon for “real buyers.”

Most activity in Mill Valley is occurring in the sub $1 million price bands, which can be characterized as neutral markets, favoring neither buyers nor sellers. The number of “bread and butter” homes (those priced between $1 million to $2 million) currently in escrow is hovering at a low 12% (about the same as last month). Meanwhile, the luxury market in Mill Valley (homes from $2 million and up) saw some meaningful activity with 3 sales last month and another 6 currently in escrow. If you would like my Mill Valley Hot List, call or e-mail me: (415) 350-9440 | Kyle@MillValley101.com.

Price Range	Total Active Homes	Pending Listings
Up to $800K	17 (up 2)	37%
$800K – $1 mil.	18 (down 3)	36%
$1 mil. – 1.5 mil.	40 (up 1)	18%
$1.5 mil. – $2 mil.	18 (no change)	0%
$2 mil. – $4 mil.	30 (down 1)	17%
$4 mil. & Up	4 (no change)	0%

Mill Valley’s 22 sales from July 2009 gave rise to the following averages: 86 days on the market; an average price of $963,591; and about 1,844 sq. ft. (or about $556 per sq. ft.). Homes in Tam Valley, Scott Valley, Sycamore Park, Boyle Park, Country Club, 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.

Readers of my monthly reports on Mill Valley, CA. are well aware of my love for Mill Valley. And what’s not to like? For starters: (1) A quick and easy commute to San Francisco, (2) often spectacular views of the Bay, the Golden Gate Bridge (a short 5-10 minutes down HWY 101), and Mt. Tam, (3) excellent schools, (4) pleasant weather, (4) a mellow, laid back ambiance, (5) a town square unlike any other in Marin (you have to go to the town of Sonoma for anything like it), (6) diverse social events (think Mill Valley Film Festival & The Dipsea Race), (7) lots of good restaurants, and (8) excellent shopping choices, including non-gentrified, family-owned boutiques and shops of all kinds.

p.s. I currently have several clients who want to be sellers, but are waiting in the wings. Please contact me to determine if any of these opportunities fit your needs. 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.

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