April 2018 Mill Valley Home Sales Update | Top Agent Real Estate Report | Pacific Union

Kyle FrazierMarin Market Updates, Mill Valley Real Estate

April 2018 Mill Valley Home Sales Update | Top Agent Real Estate Report | Pacific Union. Located just north of the iconic Golden Gate Bridge and home to just 14,000 residents, Mill Valley is widely considered one of the most desirable small towns in the entire Bay Area  (click HERE for a video about Mill Valley). Affluent buyers from all walks of life are drawn to Mill Valley’s mellow vibe, low crime, good schools (Tamalpais Union HSD is one California’s top High School Districts), excellent outdoor opportunities (Muir Wood, Mt. Tam, and Stinson Beach) and welcoming downtown shopping district with great restaurants and cafes. Reflecting the anti-establishment roots of this historically hippie town, you may even see someone sitting at the coffee shop with a t-shirt that reads “Bring Mill Valley back … to Mill Valley.”

News Flash: I have a new listing coming up in Homestead Valley (below). It features a newly renovated Kitchen, private location, 5 beds, 2.5 baths and about 3,363 square feet. Price to be $2,499,000. Call me if interested. For more pictures and 3-d walkting tour, go to www.442Laverne.com.

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111415March 2018  home sale numbers (we had 19 trades) inched up from those of February 2018. Inventory of homes for sale remains the biggest challenge for buyers. The average sales price of $2. 131 million is consistent with the upward trend of prices generally seen in Southern Marin (agents now observe that $2.5 million is the new $1.5 million — kind of like 50 is the new 40 (LORD, how I pray that is true).

The sold properties of March 2018 averaged 2,317 square feet at $893 per sq. ft. Despite ongoing upward price movement, Mill Valley home buyers continue acting quickly (and with very strong terms) when exceptional properties in desirable locations hit the market. Multiple offers remain common on such homes, coupled with short contingencies. I expect that this will continue through the end of the first half of 2018 — agent buzz and home preparation activity remains very high.

News Flash: I have a new listing coming up in Homestead Valley. It features a newly renovated Kitchen, private location, 5 beds, 2.5 baths and 2-car garage. Price to be $2,499,000. Call me if interested. This has not been shared with my networking groups yet.

There are currently just 29 single family homes listed for sale in Mill Valley. Mill Valley’s current absorption rate is less than 2 months (4-6 months is considered a “balanced” market). This is about the tightest market I have seen in my 15 years in Marin real estate. Below are the percentages of homes in escrow in each of Mill Valley’s major price bands:

  • 43% of homes below $1 million;
  • 65% of homes between $1 million and $1.5 million;
  • 50% of homes between $1.5 million and $2 million;
  • 20% of homes between $2 million and up.

Of the 16 homes that sold in February 2018:

  • 5 homes were under $1.5 million;
  • 11 homes priced from $1.5 million and up.

MLS Listings in Sycamore Park, Tam Park, Homestead Valley, Boyle Park, Middle 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 Pacific Union International Real Estate. It is always my pleasure to be of service.