« Back to Trends and Sales
Mill Valley has shown remarkable price stability through the first 18 months of national real estate price contraction and economic instability. The data regarding home prices for Mill Valley does not show a decline from 2007 to 2008. This data is misleading. The truth is that the only homes that have sold are those in either preferable locations and/or those that are updated and turn-key; and what is hidden in the data are the costs of the improvements necessary to actually get a home buyer to buy. However, this is true for most towns and price ranges in Southern Marin, so Mill Valley’s price stability relative to other towns is relevant and significant. Our experience is that buyers are able to buy 10-15% more house for their money than they were in 2005 and 2006.
Current Inventory: We are waiting to see what inventory comes on the market in the next eight weeks. Currently there are only 18 homes on the market priced over $1.850M. It is important to keep in mind that many homes were withdrawn during the holidays and still more properties are being marketed off the MLS until the market loosens.
Q4 2008 Mill Valley Real Estate Review
Mill Valley has shown remarkable price stability through the first 18 months of national real estate price contraction and economic instability. The data regarding home prices for Mill Valley does not show a decline from 2007 to 2008. This data is misleading. The truth is that the only homes that have sold are those in either preferable locations and/or those that are updated and turn-key; and what is hidden in the data are the costs of the improvements necessary to actually get a home buyer to buy. However, this is true for most towns and price ranges in Southern Marin, so Mill Valley’s price stability relative to other towns is relevant and significant. Our experience is that buyers are able to buy 10-15% more house for their money than they were in 2005 and 2006.
Current Inventory: We are waiting to see what inventory comes on the market in the next eight weeks. Currently there are only 18 homes on the market priced over $1.850M. It is important to keep in mind that many homes were withdrawn during the holidays and still more properties are being marketed off the MLS until the market loosens.