Mill Valley Real Estate Report (April 2015 Home Sales Update) | Pacific Union
Mill Valley Real Estate Report (April 2015 Home Sales Update) | Pacific Union (click HERE for a video about Mill Valley). March 2015 sales in Mill Valley, CA shot upwards, more than doubling the prior month’s number of trades. During March 2015, Mill Valley had 30 single family home sales compared to 14 in March. Not only was the number of sales higher, but so were the prices of homes sold (up from $1.76 million to $1.9 million). The properties averaged about 2,404 sq. ft. (or about $789 per sq. ft.). As prices have risen, it has become evident that Mill Valley home buyers have become somewhat less enthusiastic about home prices. Nonetheless, during the peak buying season, properties in desirable locations and with reasonably calculated pricing strategies continue to receive multiple offers with bid prices well above asking price (indeed, multiple offers are quite common on such homes), coupled with short contingencies.
There are 49 single family homes currently active on the market in Mill Valley. The current absorption rate in Mill Valley is low with just over 1.5 months of inventory (6 months is considered “balanced”).
Below are the percentages of homes in escrow in each of Mill Valley’s major price bands (note that due to increased prices, I have eliminated the “under $800,000″ price level in my analyses):
- 65% of homes below $1 million;
- 53% of homes between $1 million and $1.5 million;
- 36% of homes between $1.5 million and $2 million;
- 23% of homes between $2 million and up.
Of the 30 homes that sold in March 2015:
- 13 homes were under $1.5 million;
- 17 homes priced from $1.5 million and up.
MLS Listings in 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 Christie’s Great Estates | Pacific Union International Real Estate. It is always my pleasure to be of service.