The fall real estate market in Mill Valley has seen buyer demand lessen due to concerns around rising interest rates, the stock market decline and signs of inflation. As a result, we’re seeing more inventory of homes for sale with longer average days on the market, and regular price reductions. Despite the buyer slow down, property valuations ended in October similar to what they were in early 2022 and are now holding steady.
We are helping our sellers evaluate and prep their homes for the upcoming 2023 spring market. Pricing carefully in this evolving climate remains paramount to a successful sale. Recent average selling prices now match last listing prices. In the spring of 2022 the average selling price was 110% -120% of last listing price, primarily driven by the period of reduced inventory brought on by the pandemic.
Ethan and I remain busy helping our clients navigate these changing conditions. As we look ahead to 2023, if you or anyone you know is in need of help buying or selling a home in Marin, we're at your service. Thank you for thinking of us!
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Featured Recently Sold Homes in Mill Valley
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134 Lovell Ave
3 Bed, 2 Bath 1783 sqft
Original List Price: $2,695,000
Sold Price: $2,425,000
Sold Date: Oct 25, 2022
36 Days on market
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141 Walnut Ave
4 Bed, 3 Bath 2284 sqft
Original List Price: $4,995,000
Sold Price: $5,300,000
Sold Date: Oct 11, 2022
8 Days on market
HOME DETAILS
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23 Janes St
5 Bed, 3 Bath 3721 sqft
Original List Price: $4,995,000
Sold Price: $4,925,000
Sold Date: Oct 17, 2022
8 Days on market
HOME DETAILS
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Current Mortgage Rates Are Now Above 7%
Oct 31, 2022
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Interior Design Trends on the Rise for 2023
From bold marble to double islands, here's what industry experts expect to see more of next year.
Oct 28, 2022
Read Full Article
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