March 2017 Home Sales Update | Mill Valley Top Agent Real Estate Report | Pacific Union
March 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 Marin County’s touchstone town, Mill Valley is a truly special place. 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), excellent outdoor opportunities (Muir Wood, Mt. Tam, and Stinson Beach) and welcoming downtown shopping district. February 2017 built on January’s somewhat limited sales figures — real estate sales in February 2017 clocked in at 16 (just 13 homes sold in January 2017). Listing inventory levels remain a challenge for buyers generally and continue to result in price appreciation. The average sales price of $1,694 million reflects the upward trend of prices generally seen in Southern Marin. The sold properties of February 2017 averaged 2,214 square feet at $785 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 into the Spring selling season.
There are currently just 39 single family homes listed for sale in Mill Valley. While this is a very low number, it is nearly double the number of listings avaialable this time last month. Mill Valley’s current absorption rate is just above 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):
- 75% of homes below $1 million;
- 33% of homes between $1 million and $1.5 million;
- 25% of homes between $1.5 million and $2 million;
- 10% of homes between $2 million and up.
Of the 13 homes that sold in February 2017:
- 8 homes were under $1.5 million;
- 8 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.
P.S. I have a highly desirable 3 bed, 2 bath condo over 2,000 square feet with views and privacy coming to market in April 2017. Please call me for the address and possible early showings.