Mill Valley Real Estate Prices Are Heading Up

In Mill Valley as of today, there are 66 homes for sale. The range, including condos, is $429,000 to $5.8 million. Activity for this week is as follows:

• 2 Contingent Releases (Homes that are under contract where the buyer needs to sell his home first)
• 29 Contingent Show (Homes in contract, but contingencies have not been released)
• 19 Pending (Homes where all contingencies have been released)
• 14 Homes sold since March 5th

Among the sold homes, 7 were under $1 million. There is a distinct jump in prices with 5 homes selling for between $1,250,000 and $1,800,000. There was one home sold for $2,225,000 (Tam Valley) and one sold “off market” for $3,575,000 (Oakdale Avenue).

Several things are influencing the market: 

1. More homes are coming to the market.
2. We are seeing more multiple offers (see chart).
3. There is a huge shadow inventory of homes listed but not in the MLS/multiple listing.
4. Buyers are out in record numbers. 

The market remains segmented when tracking what price ranges are selling and at what levels. From the trends and charts, it appears that in Mill Valley prices are trending up which seems to be a result of newer, larger homes coming online. The average days on market is about 133.

Some Rainy Day Home Maintenance Tips:

1. Keep an eye out for Mill Valley flood warnings.
2. Clear your gutters and downspouts! By clearing away debris, you ensure that excess water flows into the proper drainage system.
3. Look for leaks in the ceiling and around or near windows. If you need a rainy day roofer, gutter-cleaner, drainage person, or general maintenance due to rain, give me a ring, I have a list of trusted handymen.
4. Prepare your entryway for wet children and pets!
5. Wooden decks and steps tend to be slippery when wet.. watch it!
6. And finally, be a good neighbor. If there’s someone nearby that could use a little help, check in with them.