The number of home sales in the Mill Valley, California real estate market held exactly even in February – 16 trades (February usually has lower sales totals because it is a short month with two legal holidays and bcause January tends to have weather which limits buyer activity). Based on last month’s total sales, we currently have an overall inventory of homes sufficient to last 5.1 months (absorption rate). This number is higher than last month because of the large number of homes that came on the market very recently. As discussed below, however, our touchstone price band is performing very well. 

Insofar as the sales and apsorption rate of Mill Valley’s touchstone price band ($1 million to $ 2million) are concerned, the market appears to be striding towards normalcy. As indicated above, compared with the past 2 years’ February totals, sales are up 50% over 2008 and double that of 2009. Meanwhile, the chart below shows a market with a serious increase in sales velocity — there is barely 3 months’ inventory for homes priced in the touchstone price band.

[Click HERE for the rest of the report, courtesy of www.MillValley101.com.]

Kyle Frazier | Pacific Union International | Morgan Lane | Christie’s Great Estates | Marin Platinum Goup

This entry was posted on Monday, March 15th, 2010 at 1:04 pm and is filed under Marin Market Updates. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.