Mill Valley, CA 94941 Real Estate Market Report

ZIP Code: 94941
Report Date: May 2026
Market Temperature: HOT
Scope: This ZIP code analysis focuses on single-family residential (SFR) properties. Metrics are calculated from recent sales and active listings within the past 90 days.

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Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Market Metrics

Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Rental Market

Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.

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Property Taxes

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Liquidity & Velocity

Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.

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Market Trends & Context

Understanding Market Temperature

A Hot market indicates strong buyer demand with limited inventory, typically characterized by rising prices, quick sales (low days on market), and inventory levels below historical averages.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in Mill Valley are averaging 6.30%, which is 0.43% higher than the 5.87% average observed in February 2026.

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

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Key Findings

1. The primary market-value signal is the median sold price of $1,999,000, which represents the most reliable indicator of recent transaction activity in Mill Valley and should guide valuation and underwriting decisions.

2. Pricing dynamics show a notable spread between median listing price of $2,695,000 and the median sold price, which may indicate pricing friction between seller expectations and closed transactions and suggests underwriters should prioritize comps from closed sales.

3. Market velocity appears slower based on a median days on market of 247, which — despite a hot market temperature and rising prices — suggests longer listing lifecycles and that buyers may be selective or conditions are elongating time-to-contract.

4. Macro and income signals: the market is classified as hot with prices trending up and rents also trending up, while interest rate pressure is moderate (current 30-year fixed averaging 6.30%, 0.43% higher than the February 2026 average), implying cost-of-capital headwinds that may temper some buyer segments despite strong price momentum.

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Notable Properties

The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.

Mill Valley, CA 94941 Real Estate Market Report

ZIP Code: 94941
Report Date: May 2026
Market Temperature: HOT
Scope: This ZIP code analysis focuses on condominium properties. Metrics are calculated from recent condo sales and active listings within the past 90 days.

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Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Market Metrics

Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Rental Market

Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.

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Property Taxes

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Liquidity & Velocity

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Market Trends & Context

Understanding Market Temperature

A Hot market indicates strong buyer demand with limited inventory, typically characterized by rising prices, quick sales (low days on market), and inventory levels below historical averages.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in Mill Valley are averaging 6.30%, which is 0.43% higher than the 5.87% average observed in February 2026.

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

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Key Findings

1. The primary market indicator, median sold price, is 1,088,500, signaling realized market value based on recent transactions and anchoring pricing decisions for sellers and appraisers.

2. Current listing/sale dynamics show the median listing price is 1,141,500 while the market appears to have up price momentum and a hot market temperature; the gap between asking and realized sale levels suggests pricing friction where seller expectations may exceed recent transaction prices.

3. Liquidity is slower on velocity measures: the median days on market is 256, which indicates extended marketing periods and suggests that while demand is strong, transaction pacing may require more realistic pricing or targeted marketing to convert listings.

4. Market context: rent and prices are both trending higher (up for rent and price), interest rate pressure is moderate, and local mortgage conditions show 30-year fixed rates averaging 6.30% (about 0.43% higher than a recent February 2026 reference), so sellers can expect continued demand but buyers will still face affordability headwinds; position listings to highlight value and non-price incentives where possible.

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Notable Properties

The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.