Mill Valley Home Sales Update February 2018 | Top Agent Report
February 2018 Mill Valley Home Sales Update | Top Agent Real Estate Report | Pacific Union. How to buy a Mill Valley home in 2018? Is this the year you move to Mill Valley? We’d love to see you here. As most of you know, Mill Valley is the shining jewel 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 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.
January 2018 home sale numbers (we had a fairly healthy 9 sales) reflected the rarity of listings and time of year. Inventory of homes for sale remains the biggest challenge for buyers. The average sales price of $1,477,278 million reflects the upward trend of prices generally seen in Southern Marin. The sold properties of January 2018 averaged 1,911 square feet at $815 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 2018 — buyer and agent home preparation activity so far in 2018 has been very high.
There are currently just 18 single family homes listed for sale in Mill Valley. Mill Valley’s current absorption rate is about 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:
- 0% of homes below $1 million;
- 60% of homes between $1 million and $1.5 million;
- 17% of homes between $1.5 million and $2 million;
- 25% of homes between $2 million and up.
Of the 9 homes that sold in January 2018:
- 5 homes were under $1.5 million;
- 4 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.