Mill Valley Real Estate (July 2007 Home Sales Report)

Mill Valley home sales and real estate values continue to show resilience in the face of increasing interest rates and negative media coverage. The ease of the commute to San Francisco via the Golden Gate Bridge, along with pleasant weather, keeps prices and sales strong. Mill Valley continues to be the place people in San Francisco generally start with when they decide to move to the Marin County.

The bread and butter homes of Mill Valley are priced between $1 million and $1.5 million and sell fast so long as they are nicely maintained, updated, and/or located in the most desirable neighborhoods–15 of these homes sold in June 2007 (down by 2 from May’s sales numbers). As with the rest of Marin, homes priced aggressively may get 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). Indeed, several homes received multiple offers over the past month. Mill Valley luxury home sales have also been robust with 13 homes selling in the $2 million – $4 million price range. 

Mill Valley homes that sold during the past month (there were 40 home sales, compared with 41 in June 2007) averaged 50 days on market and sold for an average price of about $1.76 million ($704 per square foot). Homes in Almonte, Strawberry, Sycamore Park, Blithedale and Cascade Canyons continue to be in high demand.

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