Mill Valley Market Overview (Home Sales Report 3/1/07)

The Mill Valley market has really heated up over the past few weeks with the percentage of homes in escrow going up virtually across the board (homes in the $1.25 – $2 million range stayed the same). There are no homes in Mill Valley under $725K and that the homes under $900K tend to be smaller, in poorer condition, in less desirable neighborhoods, and/or located on a steep hill, etc.

As always, the bread and butter homes of Mill Valley (priced between $1 million and $1.25 million) sell quickly if they are nicely maintained, updated, and/or located in desirable neighborhoods. Those that are priced correctly are again seeing multiple offers. An astonishing 58% of these homes are pending (that is a sellers? market, folks).

Homes priced above $2 million in Mill Valley are not selling as briskly. In this price range buyers are being picky and the percentage of homes in escrow is very low. Meanwhile, the $1.25 million to $2 million range is looking pretty strong. Someday soon, these reports will refer to that price range as the ?bread & butter? homes of Mill Valley.

Price Range
Units Total
Active Listings
Pending Listings
$700K – $799K
9
44%
55% — 11%
$800K – $899K
9
66%
33% — 22%
$900K – $1 mil.
6
75%
25% — 25%
$1 mil. – $1.25 mil.
15
42%
58% — 8%
$1.25 – $2 mil.
21
81%
19% — No Change
$2 mil. & up
19
77%
23% — 13%

If you would like detailed data on any specific neighborhood, give me a call at (415) 350-9440. It is my pleasure to be of service.