Mill Valley Real Estate Report (February 2015 Home Sales Update) | Pacific Union
Mill Valley Real Estate Report (February 2015 Home Sales Update) | Pacific Union (click HERE for a video about Mill Valley). After a fairly slow second half of 2014, January sales continued that trend. In January 2015, Mill Valley accounted for just 12 single family home sales. These homes sold for an average price of $1.285 million. The properties averaged 1,853 sq. ft. (or about $730 per sq. ft.). As prices have risen, it has become evident that Mill Valley home bueyrs have become somewhat less enthusiastic about home prices. Nonetheless, properties in desirable locations and with reasonably calculated pricing continue to receive multiple offers with bid prices well above asking price (although multiple offers are now not nearly as common as early in 2014), coupled with short contingencies.
There are just 19 single family homes currently active on the market in Mill Valley. The current absorption rate in Mill Valley is low with just over 1 month of homes (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):
■56% of homes below $1 million;
■55% of homes between $1 million and $1.5 million;
■57% of homes between $1.5 million and $2 million;
■36% of homes between $2 million and up.
Of the 15 homes that sold in January 2015:
■9 homes were under $1.5 million;
■3 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.
