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.