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

February 2017 Home Sales Update | Mill Valley Top Agent Real Estate Report | Pacific Union (click HERE for a video about Mill Valley). Often thought of as one of Marin County’s touchstone, Mill Valley is a truly special small town. With about 14,000 people, located a couple miles north of the Golden Gate Bridge, Mill Valley is widely considered one of the most desirable towns not just in Marin, but the entire Bay Area. Affluent buyers from all walks of life are drawn to Mill Valley’s mellow vibe, low crime, good schools (Tamalpais Union HSD was just noted as one California’s top High School Districts) and welcoming downtown shopping district. January 2017 was a relatively slow month for real estate sales with just 13 homes sold (of course, the Winter season and ongoing low inventory levels are a major limiting factor on the number of sales). The average sales price of $1,667,846 million reflects the upward trend of prices generally seen in Southern Marin. The sold properties of February 2017 averaged 2,466 square feet at $663 per sq. ft. Despite ongoing upward price movement, Mill Valley home buyers continue acting quickly when exceptional properties in desirable locations hit the market. Indeed, multiple offers are quite common on such homes, coupled with short contingencies. I expect that this will continue as 2017 unwinds.

There are currently just 22 single family homes listed for sale in Mill Valley. This is very low. Mill Valley’s current absorption rate is just under 2 months (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 (note that due to increased prices, I have eliminated the “under $800,000″ price level as there are very few such homes avaialble):

  • 83% of homes below $1 million;
  • 14% of homes between $1 million and $1.5 million;
  • 38% of homes between $1.5 million and $2 million;
  • 29% of homes between $2 million and up.

Of the 13 homes that sold in February 2017:

  • 6 homes were under $1.5 million;
  • 7 homes priced from $1.5 million and up.

MLS Listings in Sycamore Park, Homestead, Boyle ParkMiddle 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.