Mill Valley Real Estate Report (July 2015 Home Sales Update) | Pacific Union
Mill Valley Real Estate Report (July 2015 Home Sales Update) | Pacific Union (click HERE for a video about Mill Valley). The number of homes sales in June 2015 in Mill Valley, CA was quite strong with 38 trades. Combined with an average sales price of approximately $1.84 million, it was a good month for sellers of Mill Valley homes. The sold properties averaged about 2,357 sq. ft. (or about $788 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, even during the end of 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 currently just 43 single family homes currently active on the market in Mill Valley, rendering a very low absorption rate of just about 1 month supply 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):
- 53% of homes below $1 million;
- 50% of homes between $1 million and $1.5 million;
- 27% of homes between $1.5 million and $2 million;
- 26% of homes between $2 million and up.
Of the 30 homes that sold in June 2015:
- 16 homes were under $1.5 million;
- 22 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.