December 2017 Mill Valley Home Sales Update | Top Agent Real Estate Report | Pacific Union

Kyle FrazierMarin Market Updates, Mill Valley Real Estate

December 2017 Mill Valley Home Sales Update | Top Agent Real Estate Report | Pacific Union. Mill Valley is a tiny microcosm of Marin County. 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 town real estate jewels 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.

November 2017  home sale numbers (we had a healthy 25 sales) were fairly robust given the rarity of listings. Inventory of homes for sale remains the biggest challenge for buyers. The average sales price of $1,594,680 million reflects the upward trend of prices generally seen in Southern Marin. The sold properties of November 2017 averaged 2,043 square feet at $791 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 into 2018.

There are currently just 18 single family homes listed for sale in Mill Valley. Mill Valley’s current absorption rate is less than 1 month (4-6 months is considered a “balanced” market). Below are the percentages of homes in escrow in each of Mill Valley’s major price bands:

  • 88% of homes below $1 million;
  • 82% of homes between $1 million and $1.5 million;
  • 18% of homes between $1.5 million and $2 million;
  • 33% of homes between $2 million and up.

Of the 25 homes that sold in November 2017:

  • 15 homes were under $1.5 million;
  • 10 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.