Mill Valley Real Estate (August 2007 Home Sales Report)

Heading into late Summer (a time of year traditionally characterized by lower sales volume) Mill Valley home sales and prices continue beating expectations. As always, commuting to San Francisco from Mill Valley via the Golden Gate Bridge (a short 5-10 minutes), along with the excellent Mill Valley schools, pleasant weather, and laid back ambiance, keeps prices and sales ever-strong. Mill Valley is THE place people in San Francisco generally start with when they decide to buy a home in Marin County.

Mill Valley homes priced between $1 million and $1.5 million are selling fast so long as they are nicely maintained, updated, and/or located in the most desirable neighborhoods–17 of these homes sold in July 2007 (up by 2 from June’s sales numbers). As with much of the rest of Marin, homes priced aggressively are getting multiple offers—note: the winning bid (which is not always the highest bid) is likely to be at asking price or just above (unlike the frenzied market of several years ago when overbids were in the stratosphere). 

Mill Valley luxury home sales have also been robust with 6 homes selling (and another 4 currently in escrow) in the $2 million – $4 million price range, and 2 homes in escrow (out of four total on the market) in the $4 million and up range. 

Mill Valley homes that sold during the past month (there were 43 home sales, compared with 40 in July 2007) averaged 56 days on market and sold for an average price of about $1.36 million ($677 per square foot). Homes in Tam Valley, Strawberry, Sycamore Park, Blithedale and Cascade Canyons continue to be in low supply and high demand.

If you would like me to run the exact numbers on your neighborhood, just give me a call at (415) 350-9440.