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 (June 2010 Home Sales Update)

June 18, 2010

Similar to May 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. Buyers are again speaking confidently about the market as prices have tumbled, interest rates are extraordinary, jobs numbers have improved, and media coverage concerning real estate has turned positive. I have a strong sense that many feel a tailwind.

The number of homes for sale in Mill Valley is up marginally to 147. Summer is upon us, school is out, and the primary selling season has wrapped up. 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, the luxury price band of $2 mil. to $4 mil. is HOT — 32% of these homes are in escrow) several with multiple offers — of course, the ones that are selling are priced extremely well). The chart below show that median sales prices have equalized for 3 bedroom, 2 bathroom homes under $1 million compared with last year.

Mill Valley’s 20 sales in May 2010 gave rise to the following averages: an average price of $1,161,875; and about 2,059 sq. ft. (or about $530 per sq. ft.). Note that the price per square foot number is prone to wild swings from month to month. For example, two 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.

Get It Now (Entry Level Mill Valley Home For Sale):

617 Springfield Way in Tam Valley is now on the market. Priced at $865,000, this private home (with a new roof in June 2010) 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 (October 2009 Home Sales Update)

October 16, 2009

The good new is that it seems the media has turned a corner on its reporting of the U.S. and worldwide economies, as well as the housing market. Positive press coverage has permeated all forms of media and is certain to change the tide, although it will take time. Significantly, San Francisco agents are reporting a significant surge in sales and prices. We know from past experience, that once San Francisco recovers, surrounding communities recover in a geo-concentrically expanding fashion.

Yet, the Mill Valley, CA. real estate market continues to limp along, offering hope of recovery, but not fully reaching the plateau (or nadir, as it were). Pardon the inevitable mixed metaphors, but it seems the real estate market is like an elite athlete with an ankle sprain, constantly at risk of further injury or re-aggravation. Our low expectations for September were fulfilled as we had just 21 home sales — same as in July and August 2009.

While is seemed that prices had gathered traction after a slippery first half of the year, last month’s price per square foot of homes sold dipped to $529 — note that the graph below tracks asking prices and the average price per square foot for homes on the market is holding steady at about $615. We have been waiting to see whether this flattening out of asking prices would carry over into the sales prices of homes trading this Fall and Winter and it appears the answer in “no.”

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

Based on last month’s sales total of 21, we currently have an overall inventory of homes sufficient to last a bit more than 5.67 months (virtually the same as August 2009) — this is called the absorption rate. This is still a HUGE reduction from the absorption rate from May 2009, which stood at well over 8 months. The number of homes in escrow is also virtually the same as last month. We think there are many real buyers out there who have been waiting for “a sign” to buy — we don’t know what that sign will be (there are likely to be many “signs”), but we feel it will likely come soon.

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

As with Marin overall, the most active segment is the sub $1 million price bands, which can be characterized as neutral markets, favoring neither buyers nor sellers. Well over half of last month’s sales were under $1 million. The number of “bread and butter” homes (those priced between $1 million to $2 million) currently in escrow is up from last month to about 20%. Meanwhile, the luxury market in Mill Valley (homes from $2 million and up) saw strong activity last month (5 sales) — and another 9 such homes are in escrow.

Price Range

Total Active Homes

Pending Listings

Up to $800K

17 (same)

48%

$800K – $1 mil.

19 (up 1)

21%

$1 mil. – 1.5 mil.

35 (down 5)

19%

$1.5 mil. – $2 mil.

19 (up 1)

17%

$2 mil. – $4 mil.

30 (same)

14%

$4 mil. & Up

5 (up 1)

0%

Mill Valley’s 21 sales from September 2009 gave rise to the following averages: 66 days on the market; an average price of $1,156,667; and about 2,165 sq. ft. (or about $529 per sq. ft.).

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 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. Christie’s Great Estates | Morgan Lane Marin and Pacific Union International.

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

August 13, 2009

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.

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

Homestead Valley (Mill Valley Neighborhoods Description)

September 16, 2008

Roughly stated, Homestead Valley sits between Sycamore Parkand Tam Valley–think “across from Whole Foods.” George Lucas lived here, above Tamalpais High School, way back when.

It is an unincoprated area with about 1,100 homes. Homes here vary in stature and price. There are fine estates with super views and cabin-sized dwellings in need of love.

Stolte Grove is a delightful park in HV, bisected by Reed Creek. It has picnic tables, barbecues, and a stage on which my girls have been known to provide impromptu performances of varying qualities and lengths. There is also garden area nearby. You can find both of these parks at Montford and LaVerne Avenues on the the loop. The Marin Horizon School is in Homestead Valley (pre-school through eighth grade).

Tam Valley Tree Removal Causes Stir

September 11, 2008

Tamalpais Valley residents have put the brakes on government efforts to rid the area of fire-prone eucalyptus trees. When word spread months ago of a plan to wipe out hundreds of the towering non-native trees – familiar to motorists traveling along a stretch of Highway 1 – some residents of the Mount Tamalpais hillside launched a campaign to halt plans by the National Park Service and Marin County Fire Department.Neighbors feared lack of funds for restoration and an Oregon logging firm’s offer to clear the area would have left them with a moonscape. The Tamalpais Valley encompasses about 2,500 households.

Twenty-two to 27 acres of federal land were targeted by fire officials in 2006 because the trees pose a high fire risk in an area adjacent to houses. An Oregon contractor had offered to clear the land for free in exchange for the wood, but that logging plans have been put on hold after the community outcry.

Eucalyptus Globulus

Eucalyptus globulus, or Tasmanian blue gum, was introduced to the San Francisco Bay Area in 1853 from Australia as an ornamental tree. The trees grow fast and tall, but the invasive species poses a severe fire hazard because of its oil content and accumulation of dead, dry leaves, and constantly shedding bark.

Plant replacement is part of agency tree removal projects for fire reasons, but budget shortfalls have put such funding in limbo. 

Actor Peter Coyote, whose Tamalpais Valley home borders the area, said he was pleased to be rid of the eucalyptus before he learned that nothing was ready to replace them.

“Anybody can say let’s cut the trees down,” said Coyote, who narrated the DVD “Marin on Fire,” a wildfire preparedness film created by FireSafe Marin. “They want to cut it down without really any provision for what will be left. If there are no options, there will be no restoration.”

Fire and park officials have stepped up efforts to combat the invasive eucalyptus. The Australian import, brought to the region in 1853, has thrived on the California coast. Oily leaves and dry ground litter have made the tree a potent fuel source for wildfires.

“Eucalyptus is one of the more volatile trees around due to its oil content and amount of debris that comes off on an annual basis,” said county Fire Chief Ken Massucco. “It is very susceptible to major conflagrations.” Massucco said his department has partnered with the National Park Service to clear agency land of the trees.

The National Park Service has targeted removal of eucalyptus trees as part of a long-term fire management plan. Rich Weideman, a spokesman for the Golden Gate National Recreation Area, said critics have complained about slow restoration programs and use of the herbicide Roundup to prevent stumps from sending up new shoots.

*This article was derived the Marin IJ.

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.

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