Mill Valley, CA 94941 Real Estate Market Report

ZIP Code: 94941
Report Date: April 2026
Market Temperature: HOT
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

The Mill Valley real estate market is characterized by a median sold price of $1,995,000, reflecting a robust demand amidst a hot market temperature. This price point indicates a strong appreciation trend, although specific historical price change data is not available for reference. The market is currently experiencing elevated inventory levels, suggesting a notable gap between active listings and sales, which may indicate a shift in market dynamics as properties are taking longer to sell, with a median days on market of 253 days. This extended timeframe could reflect a need for price adjustments or changing buyer preferences in the area.

Despite the slower sales velocity, the median listing price stands at $2,145,000, indicating that sellers may still have high expectations. The rental market also shows strength, with a median market rent of $4,320, suggesting ongoing demand for rental properties. However, the elevated interest rate pressure, with current mortgage rates averaging 6.62%, may further influence buyer behavior and market activity moving forward.

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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, CA are averaging 6.62% as of March 2026, which is 0.73% higher than the average rate of 5.89% seen in March 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 median sold price of $1,995,000 indicates strong market performance despite extended selling periods.

2. With a median days on market of 253, properties are experiencing slower sales velocity, suggesting potential pricing adjustments may be necessary.

3. The median listing price of $2,145,000 reflects high seller expectations amidst elevated inventory levels.

4. A median market rent of $4,320 highlights robust rental demand, supporting the overall market strength.

5. Current mortgage rates averaging 6.62% indicate elevated interest rate pressure, which may impact buyer affordability and market dynamics.

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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.