Mill Valley CA. Real Estate Market Report (April 2010 Home Sales Update)
I have been chomping at the bit to write this monthly report as the market in Mill Valley is bursting with positive indicators. The number of homes sold in the Mill Valley, California real estate market rose nearly 50% over the prior month. Mill Valley’s touchstone price band ($1 million to $2 million) appears to be striding towards normalcy. Not only is seasonal inventory healthy (with more homes for sale than last year), but so too is the percentage of homes in escrow (see below — it is hard to believe!). With most economic indicators pointing towards recovery, the collective thinking among buyers is that now is as good a time as any to buy a home — whether it is a first home or a move-up home. Keep in mind that buyers in Mill Valley are not buying because of government tax credits (a storyline often told in the national press). These buyers, for the most part, are high earners excluded from such programs. These are simply people who have decided the time is right. It has been well over three years since I have heard buyers speak confidently about the market, secure in the fact that they are buying into a good overall market environment.
Based on last month’s total sales, we currently have an overall inventory of homes is down 72 % from last year. Escrows are up 200% ….