Tam Valley

Tam Valley Market News

I'm a proud Tam Valley resident and I love doing business here. I compile local market updates twice a year, so read on for stats and my semiannual take on the economic landscape. Let me know if you have any questions or if you'd like to receive the print version, and if you see me out and about in our lovely neighborhood, I hope you'll say hi.

Market Insights: July through December 2023...and Looking Forward

2023 was an interesting time for real estate with factors like rising interest rates and several insurance providers leaving California contributing to a dip in buyer confidence. That said, as I noted of the first half of 2023, both Tam Valley and Mill Valley overall tend to remain a bit less impacted by some of the more dramatic ups and downs experienced by other locales; our idyllic neighborhood appeals to a variety of home buyers, inventory is limited, and candidly, people looking here usually have the means to make this their home—even when macro market factors aren’t ideal. Some might say we are “insulated.” This continued to be the case in the second half of 2023. While the median sales price varied month to month, in fact average price per square foot didn’t drop precipitously (and you can check out both in the graphs below). We simply didn’t see the same peaks that drove the market from early 2021 through the spring of 2022.

As relatively solid as last year managed to be in Tam Valley real estate, this year we are already seeing economic factors begin to balance out, and newly motivated buyers eager for what few homes are coming to market. So, we anticipate a dynamic market this year! If you have questions about anything real estate or the neighborhood, let’s chat.

16

HOMES SOLD

22

AVG DAYS ON MARKET

$1,815,000

MEDIAN SALES PRICE

104%

AVG % LIST PRICE RECEIVED

2,099

AVG SIZE SQ FT

$957

AVG PRICE PER SQ FT