November 2017 Mill Valley Home Sales Update | Top Agent Real Estate Report | Pacific Union
November 2017 Mill Valley Home Sales Update | Top Agent Real Estate Report | Pacific Union. Often thought of as Marin County’s touchstone small town, Mill Valley is a truly special place. Approximately 14,000 people live in Mill Valley, which is located a couple miles north of the Golden Gate Bridge. It is widely considered one of the most desirable towns not just in Marin, but the entire Bay Area (click HERE for a video about Mill Valley). Affluent buyers from all walks of life are drawn to Mill Valley’s mellow vibe, low crime, good schools (Tamalpais Union HSD was just noted as one California’s top High School Districts), excellent outdoor opportunities (Muir Wood, Mt. Tam, and Stinson Beach) and welcoming downtown shopping district. October 2017 home sale numbers (we had 23 sales) were fairly robust given the rarity of listings. Inventory of homes for sale remains the biggest challenge for buyers. The average sales price of $2,174,826 million reflects the upward trend of prices generally seen in Southern Marin. The sold properties of October 2017 averaged 2,866 square feet at $811 per sq. ft. Despite ongoing upward price movement, Mill Valley home buyers continue acting quickly (and with very strong terms) when exceptional properties in desirable locations hit the market. Multiple offers remain common on such homes, coupled with short contingencies. I expect that this will continue as 2017 unwinds into the Spring selling season.
There are currently just 35 single family homes listed for sale in Mill Valley. Mill Valley’s current absorption rate is just above 1 month (4-6 months is considered a “balanced” market). Below are the percentages of homes in escrow in each of Mill Valley’s major price bands:
- 90% of homes below $1 million;
- 59% of homes between $1 million and $1.5 million;
- 40% of homes between $1.5 million and $2 million;
- 14% of homes between $2 million and up.
Of the 23 homes that sold in October 2017:
- 10 homes were under $1.5 million;
- 13 homes priced from $1.5 million and up.
MLS Listings in Sycamore Park, Tam Park, Homestead Valley, Boyle Park, Middle Ridgeand 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 Pacific Union International Real Estate. It is always my pleasure to be of service.
P.S. I have a highly desirable 3 bed, 2 bath condo over 2,000 square feet with views and privacy coming to market in April 2017. Please call me for the address and possible early showings.