Mill Valley Real Estate – 2024 Year End
Marin saw an 8% increase in the total number of homes sold in 2024 compared to 2023, with 1,752 single-family homes changing hands. The $1 million to $3 million price range experienced the largest growth, with a 10% rise in sales compared to the previous year. The average selling price in 2024 remained steady at $2,150,000, nearly unchanged from 2023.
Homes that are less than ideal faced price reductions, while remodeled properties featuring open floor plans and premium amenities—such as pools, breathtaking views, or expansive yards—drew strong buyer competition and multiple offers.
Forecasting the short-term impact of a new administration, global trade developments, and financial markets remains complex. However, with anticipated lower interest rates, robust stock market performance, and a strong regional job market, demand is expected to continue outpacing the supply of available homes, contributing to price stability.
Mill Valley Summary
Mill Valley experienced an increase in home sales in 2024 compared to 2023, rising from 237 to 268 transactions. The average sale price remained the same as 2023 at $2.6 million supported by a larger number of high-end property sales. In 2024, 18 homes sold for over $5 million, up from 10 in 2023. Additionally, sales of homes priced between $1 million and $2 million increased by 20%, with 106 sold compared to 88 the previous year.
The average price per square foot sold remained consistent with 2023 at $1,119. However, the market showed signs of modest cooling in the second half of 2024, with slightly fewer homes selling above the asking price and receiving multiple offers compared to the first half of 2024. Furthermore, 30% of homes sold in the latter half of the year underwent price reductions, up from 14% in the first half.
Despite these minor market shifts, demand remains strong, particularly for homes with updated finishes, modern amenities, and open floor plans.
When you’re ready to maximize the value of your home and determine an optimal pricing strategy, I invite you to contact me. I can guide you in preparing your home for sale and ensure a hassle-free selling experience right up to the completion of your move.
