Mill Valley Real Estate Report (November 2013 Home Sales Update) | Pacific Union
Mill Valley Real Estate Report (November 2013 Home Sales Update) | Pacific Union. Despite incredibly low inventory, the Mill Valley, CA real estate market continues to astound amaze as the number of sold homes remains high. In October 2013, 31 single family properties sold. These homes traded on average for $1.49 million and averaged 2,155 sq. ft. (or about $659 per sq. ft.). Comparing these numbers to past market updates, one can see a dramatic rise in both sale prices and price per foot over the past year with much of the increase taking place early in 2013 and leveling out beginning in June. Like all towns in Marin County, California (San Francisco’s “North Bay” region), the number of Mill Valley home sales (although still strong) is constricted due to low inventory. Indeed, there are many potential buyers are out there, but they lack homes to buy. Multiple offer situations remain common when it comes to fairly priced homes under $1.5 million. My team has come to expect several offers for homes in the lower price points. This momentum extends from the entry level (where investors are very actively pursuing a purchase and rent strategy) to the luxury segment over $2 million as there were 6 homes sold in October 2013 over $2 million.