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Mill Valley Home Prices Projected To Rise

Real estate website forecasts prices to increase for 2013 in all but one Bay Area zip code.

As anyone buying or selling a home in Mill Valley or virtually anywhere in the Bay Area can attest to, home prices are on the rise. Home prices in Mill Valley are projected to jump more than 5 percent this year, according to a study conducted by an online real estate site.

Zillow.com expects home prices in 244 of the 245 zip codes in the Bay Area to rise in 2013. The only exception will be the 94515 zip code in Calistoga, according to a story in the San Francisco Chronicle.

The story suggests that the primary reason for the price increase is the tight inventory, a lack of homes for sale on the market.

But even with the increase, prices remain significantly lower than the peak prices of a few years ago.

Here is the individual zip code data for the Mill Valley area.

Zip Code Dec. 2012 median Dec. 2013 projection Increase % decrease from peak price 94941 $947,700 $995,820.61 5.1%  -15.2 percent

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ex-DWPworker February 22, 2013 at 06:11 PM
I live in Homestead, which is less desirable than other side of the E. Blithedale. Anyone know the projected difference?
Rico February 23, 2013 at 08:00 PM
I have looked up houses that I have extensive knowledge of and have worked in for years. The Zillow estimates are wildly inflated almost all the time, probably because Zillow doesn't really know the properties value because they don't really know anything about the house, have never been inside and some of them can't even be seen from the street. Sorry "Google street spy cam cars". I have worked in houses in Mill Valley that when I ask the owner when was it built, they tell me that they don't know because there are no records. Ah, the good old days, no building permits or records, just pick a number out of a hat for the value !
Rico February 24, 2013 at 12:49 AM
When you think about it, at any given time only a very small fraction of the total single family deteched houses are for sale in Mill Valley and is not a reflection of much of anything. Keep in mind that there are hundreds if not thousands of SFD houses that have never been on the market at all. The original builders/owners live their lives in the houses and then passe them down to their offspring, who also plan on living there as long as possible, and then pass them down to their offspring. And there are sellers who don't go through real estate companies, they sell to their friends or find a buyer on their own to save paying the commission. And there are many families who have been renting houses from the owner directly for decades, cutting out the real estate agents and property management companies, hence no rental records for those people. But the owner does have to pay a tax to the City of M.V. , but does not know necessarily is who living there. I do like these upbeat sales ads, but I don't take them seriously.
Bill McGee February 24, 2013 at 07:44 AM
Hi Ricardo – I think the term you were fishing for is CDD which stands for “Conventional Detached Dwelling”. I pulled this data below from the Assessor-Recorder website. These are CDD’s - no condos or Townhomes included. The dollar figures are the Median home prices and the number in the parenthesis are the number sold during the year. Year Median $-Marin (#sold) Median $-Mill Valley (#sold) 2001 $650,000 (2239) $930,000 (147) 2002 $685,000 (2730) $939,000 (191) 2003 $936,525 (3097) $936,525 (178) 2004 $810,000 (3405) $1,089,000 (217) 2005 $945,000 (3045) $1,250.000 (173) 2006 $960,000 (2400) $1,317,500 (178) 2007 $1,000,000 (2107) $1,355.000 (153) 2008 $1,208,218 (1570) $1,492,500 (106) 2009 $750,000 (1676) $1,100,000 (102) 2010 $775,000 (1909) $1,333,626 (117) 2011 $742,500 (1965) $1,150,000 (130) 2012 $759,000 (2463) $1,195,000 (162) Zillow included all of zip code 94941 while the county had separate figures for Mill Valley and unincorporated. The Mill Valley pricing is a bit higher. I like to view this stuff on a spreadsheet/chart so I can see the bigger picture and trends.
Bill McGee February 24, 2013 at 07:53 AM
There is no doubt the economy has improved and the home market has started to rebound but it remains fragile. I believe we are on the right track and there is opportunity knocking. My industry (commercial interior construction) has mirrored the residential home market even though there is almost NO connection. I compare the residential volume and prices to the commercial office vacancy rate and office space rental rates and they are comparable to those in our industry. It is my experience that those businesses that continue to adapt to customer’s demands in today’s technology will not only survive but thrive. Those that are slow to adapt and fight change will spend most of their time griping about their economy being poor and fixating over corporate control of their lives.

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