Mill Valley CA Market Update

By
Real Estate Agent with Decker Bullock Sothebys Realty

Year 2000 Census: This pegged the population of Mill Valley (CA Real estate) at 13,615 with 6,281 total housing units, 2.2 people per house, and a mean income of $134,116. (Please see chart below.) The next census will be out within a year. Mean income data can tell us a lot about home prices, such as whether the implied average home prices are in line with Fair Value estimates, current average prices, or historical prices. For instance:

This means several things, i.e., the lack of high-end sales is dragging average prices down. The lower end of the market is much stronger, specifically $800k-$1.2m, andis hot right now. Most importantly, as long as incomes, taxes and demand remain in relative proximity, prices should come back to near our Fair Value estimate.

Current Inventory: The Mill Valley real estate market above $1.85m, like all Marin towns, has been very slow since Oct. '08. Mill Valley average home prices have dropped 19% from their peak last year, and it now takes 103 days (and several excruciating price drops) to sell a home over $1.85m.

 2009 Home Sales over $850k:

Address Sale Price sq ft  $/sqft Days on Mkt
51 Park Avenue $860,000 1606 535 140
724 Alta Vista Road $870,000 1218 714 40
319 Ricardo Road $875,000 1598 548 127
354 Woodside Avenue $879,500 1554 566 37
208 Corte Madera Avenue $899,000 1713 525 48
93 Eldridge Avenue $900,000 2061 437 16
200 Chapman Road $900,000 1701 529 31
911 Centro Way $908,600 1780 510 94
67 Meadow Drive $920,000 1560 590 42
933 Greenhill Road $925,000 1908 485 83
39 Millay Place $925,000 2410 384 86
135 Reed Boulevard $925,000 2706 342 104
32 Milland Drive $935,000 2158 433 107
207 Gibson Avenue $945,000 2521 375 107
75 Woodside Lane $950,000 2756 345 58
132 Richardson Drive $950,000 1975 481 138
30 Monte Cimas Avenue $959,000 1628 589 140
98 Ryan Avenue $960,000 1650 582 59
359 Marion Avenue $973,150 2577 378 127
363 Dolan Avenue $975,000 1986 491 0
290 Greene Street $980,000 1644 596 80
200 Ricardo Road $980,000 1914 512 30
239 Greene Street $1,020,000 2271 449 114
127 Richardson Drive $1,020,000 1900 537 67
55-55 1/2 Lomita Drive $1,025,000 937 1094 179
94 Sycamore Avenue $1,038,000 2000 519 86
142 Manor Drive $1,040,000 1380 754 23
9 Amicita Avenue $1,050,000 1702 619 121
599 Edgewood Avenue $1,050,000 2000 525 281
715 View Point Road $1,050,000 2279 461 16
58 Carmelita Avenue $1,050,000 1728 608 63
423 Durant Way $1,055,000 3082 342 29
421 Wendy Way $1,075,000 1860 578 131
174 Sycamore Avenue $1,100,000 1838 598 96
239 Perry Street $1,120,000 2640 424 31
1 Alturas Way $1,125,000 2536 444 95
215 California Avenue $1,135,000 1940 585 97
425 Eldridge Avenue $1,140,000 1822 625 63
1030 Trillium Lane $1,175,000 2515 467 83
244 Oakdale Avenue $1,199,000 1338 896 51
132 Del Casa Drive $1,200,000 2222 540 125
79 Elinor Avenue $1,200,000 1714 700 21
24 Lower Drive $1,200,000 2439 492 232
66 Cypress Avenue $1,225,000 2664 460 139
24-A Shell Road $1,225,000 2309 531 112
31 Sunrise Avenue $1,380,000 2600 531 0
21 Lower Drive $1,395,000 3051 457 16
295 Corte Madera Avenue $1,418,000 2850 498 42
104 Walnut Avenue $1,425,000 2266 629 193
306 Cape Court $1,437,500 2139 672 50
6 Dawn Place $1,450,000 3255 445 70
163 Locust Avenue $1,470,000 1656 887 49
237 Del Casa Drive $1,475,000 3200 461 31
162 Hillside Avenue $1,475,000 2753 535 0
477 Cascade Drive $1,480,000 2247 659 0
301 Rydal Avenue $1,495,000 2918 512 13
36 Helens Lane $1,520,000 2271 669 120
32 Edgewood Avenue $1,550,000 2061 752 113
25 King Street $1,550,000 2553 607 211
43 Park Avenue $1,560,000 2610 598 23
378 E Streetrawberry Drive $1,575,000 3019 522 144
133 Locust Avenue $1,600,000 2757 580 80
146 Del Casa Drive $1,600,000 2512 637 103
58 Matilda Avenue $1,610,000 1873 859 115
151 Bayview Drive $1,623,000 3212 505 47
560 Edgewood Avenue $1,760,000 3463 508 208
107 Oakdale Avenue $1,775,000 3139 565 60
532 Throckmorton Avenue $1,800,000 3367 535 49
34 Renz Road $1,800,000 2731 659 102
359 Lovell Avenue $1,825,000 2331 783 81
Averages $1,213,711          2,237 $561           84
         
Above $1850        
130 Coronet Avenue $1,907,500 3734 511 55
1000 Marin Drive $1,925,000 3691 522 185
42 Vista Del Sol $1,950,000 3416 571 57
8 Hilarita Avenue $1,950,000 2385 818 111
122 Cornelia Avenue $2,175,000 2500 870 178
94 Sunnyside Avenue $2,275,000 2683 848 74
389 Throckmorton Avenue $2,375,000 3260 729 25
117 Chapel Drive $2,400,000 3987 602 118
235 Lauren Avenue $2,650,000 3937 673 57
303 Vista Linda Drive $2,725,000 4939 552 63
33 Heron Drive $3,150,000 3209 982 0
324 Melrose Avenue $3,400,000 3492 974 21
90 Vasco Court $4,000,000 4595 871 105
8 Sandy Lane $5,000,000 5324 939 133
Averages $2,705,893          3,654 $747           84

Posted by David DuPont 415-867-6611

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Topic:
Real Estate Market Trends
Location:
California Marin County Mill Valley
Tags:
mill valley ca real estate
homes mill mill valley ca

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