Novato Real Estate Market Update (Homes For Sale and Sales Report)

The level of inventory for single family homes in Novato (North Marin County) has increased steadily over the past several months.  As we get settled into the peak buying and selling season in Marin, Novato leads all other Marin towns in homes for sale with 173 (active listings).  There are 66 properties currently in escrow.  Twenty-seven homes in Novato sold this month as of 4/28/07. 

The current absorption rate for homes in Novato is approximately 3.8 months of inventory.  However, close examination of the sales breakdown shows that sales gravitate in the under $800,000 price-range.  Overall, in Novato, the average days on market for homes that sold is 61 days.  Hamilton Field, Pointe Marin, San Marin, Partridge Knoll, Rush Creek, and Atherton Ranch continue to sell well.

Of the 27 homes in Novato that sold in the past month, 19 were priced under $800,000, only 3 between $800,000 and $1 million, and the remaining 5 were over $1 million (the highest being $1.775).  Looking at active homes for sale, there are 99 currently on the market in the sub $800,000 range (where the vast majority of sales are occurring) and another 74 homes over $1 million.  Based on last month’s sales the million dollar plus market has enough inventory to satisfy demand for 14.8 months.

For a detailed analysis of your neighborhood, call Kyle Frazier at 415/350-9440–it is a pleasure to be of service.

Marin Restaraunts — On The Waterfront and Outdoors

Nothing beats the feeling of eating and relaxing outdoors in a waterfront setting–or even better, on patios situated over the water. Below are a few Marin County restaurant offering outdoor dining with a watery twist.

In Sausalito:

• Cafe Il Piccolo, 660 Bridgeway, 415/457-2460
• Fish, 350 Harbor Dr., 415/331-3474
• Horizons, 558 Bridgeway, 415/331-3232
• Northpoint Coffee Co., 1250 Bridgeway, 415/331-0777
• Paradise Bay, 1200 Bridgeway, 415/331-3226
• Saylor’s Landing, 305 Harbor Dr., 415/332-6161
• Waterfront Cafe, 85 Liberty Ship Way, 415/332-5625

In Tiburon:

• Ginza Sushi, 41 Main St., 415/789-5123
• Guaymas, 5 Main St., 415/435-6300
• Sams Anchor Cafe, 27 Main St., 415/435-4527
• Servino’s, 9 Main St., 415/435-2676
• Sweden House, 35 Main St., 415/435-9767

Mill Valley:

• Piatti, 62 Redwood HWY, 415/380-2525
• Pleasure is Mine Cafe, Harbor Point Racquet Club, 475 E. Strawberry Dr., 415/381-6400

San Rafael:

• Bobby’s, 102 Loch Lomond, 415/457-2460
• Pier 15, 15 Harbor Dr., 415/256-9121
• Seafood Peddler, 100 Yacht Club Dr., 415/460-6669

Inverness:

• Barnaby’s, 12938 Sir Francis Drake Blvd., 415/669-1114
• Drake’s Beach Cafe, 1 Drake’s Beach Road, 415/669-1297

Marshall:

• Nick’s Cove, Route 23240 HWY 1, 415/663-1033
• Tony’s Seafood, 18863 State Route 1, 415/663-1107

Marin County Beaches — less crazy, more Zen

Everybody knows about Stinson Beach–even people from The City (that’s San Francisco, if you didn’t know).  But, Marin has other beaches and hang-outs which are distinctively less crazy and more Zen.  Here are a few: 

1. Drakes Beach – take Sir Francis Drake Blvd. towards the Point Reyes lighthouse and turn left on Drakes Beach Road
2. McNear’s Beach  — go east on 2nd Street in San Rafael.  It will turn into Point San Pedro Road.  Turn right on Canterra Way and you can’t miss it
3. Muir Beach — about ten miles north on Highway 1 from Highway 101
4. Rodeo Beach — take Highway 101 to Bunker Road and go until you reach the end
5. Stinson Beach — exit Highway 101 at the Highway 1/Stinson Beach exit.
6. Dillon Beach — Highway 1 near Sonoma County border
7. Heart’s Desire Beach — from Highway 1, go west on Sir Francisco Drake, bear right on Pierce Point Road
8. Kirby Cove — take Highway 101 to Alexander Road and then take Conzelman Road another 3/4 of a mile
9. Limantour Beach – from Highway 101 in Olema, take Bear Valley Road to its terminus

Don’t forget the sunscreen!  Still can’t think of a good place to go, try clicking here for information on Point Reyes and surrounding areas, including phone numbers if you should get lost.

Marin Luxury Home Sales Report (May 2007 Inventory and Sales Update)

The past month has seen a significant rise in the numbers of homes entering the market, especially in the $2 million to $4 million range (the number of active listings is up by 26 for a total of 96 homes). That may seem like a lot. But, 23 homes in that price range sold in Marin last month. Mill Valley boasts the largest number of homes sold last month in this market segment — 6 homes sold (the average days on market was 45, the average sales price was $2.76 million,and the average price per square foot was $797). Tiburon was next — 4 sales (the average days on market was 60, sales price was 2.43 million, and the average price per square foot was $747). Tiburon and Mill Valley also have the most homes currently in escrow in this price range. Followed by Ross (with 5 home) and Kentfield (with 3 homes).

In the $4 million and up range, there are currently 44 active homes on the market in Marin, up by 13 from last month. Tiburon leads the pack with 18 homes, followed by Belvedere (with 9) and Kentfield (with 4). Sales is this price range are led by Kentfield, which saw 5 homes sell last month with an average days on market of 27 days, selling price of $5.99 million, and a price per square foot an astonishing $1,059 (note that Belvedere’s average price per square foot for homes in this price range was an even more astonishing $1,524 per square foot).

CLick below to see the chart of active and pending listings in the Marin luxury home market.

[Read more]

Marin County Farmers Markets

Nothing beats a sunny morning at the local Farmers Market. And Marin has some very good ones with lots of seasonal local and organic produce. Here are some worth checking out:

• Corte Madera (Town Center Courtyard, noon to 5 p.m. on Wednesdays, year-round)
• Civic Center (at the Civic Center, 8 a.m. to 1 p.m. on Thursdays and Sundays, year-round)
• Downtown San Rafael (on Fourth St. between B St. and Lincoln Ave., 6 p.m. to 9 p.m., April 5 through September 27)
• Fairfax (Peri Park, Wednesday nights)
• Larkspur (Larkspur Landing, 10 a.m. to 2 p.m., Saturdays, May 19 to October)
• Novato (Grant Ave. between Machin and Reichert Aves., 4 p.m. to 8 p.m., Tuesdays, April 17 to October 30)
• Point Reyes (Toby’s Feed Barn on HWY 1, 9 a.m. to 1 p.m. Saturdays, June 23 to November 4)
• Sausalito (Ferry Parking Lot, 4 p.m. to 8 p.m., Fridays, May 11 to October)
• San Geronimo (Farm Stand at the Community Center, 2 p.m. to 7 p.m., Wednesdays, June through October)
• Ross (Marin Art 7 Garden Center, 2 p.m to 7 p.m. Tuesdays, June through October)
• San Anselmo (Town Hall, 2 p.m. to 7 p.m., Fridays, June through October)

So, grab some kettle corn and wander the aisles. See you there!

San Rafael Real Estate Market Overview (Home Sales Market Report 4/5/07)

Despite some of the numbers in the snapshot graph below, San Rafael homes continue to sell across the board. The bread and butter homes of San Rafael are priced between $700K and $900K and sell fast so long as they are nicely maintained, updated, and/or located in desirable neighborhoods (although the percentage of homes in escrow fell this past month?44% of these homes are in escrow indicating a pretty balanced market).

As with the rest of Marin, homes priced correctly may or may not get multiple offers?note: the winning bid (which is not always the highest bid) is likely to be at asking price or just above (unlike the frenzied market of several years ago when overbids were in the stratosphere). Generally speaking, buyers are still in the driver?s seat for most properties. As noted over the past few months, Terra Linda and Marinwood offer some relatively good values for buyers (especially those willing to take on homes that need some work) even though the inventory is low.

Homes priced above $1.25 million in San Rafael continue selling at a respectable pace, although down from last month (which may be an anomaly). Currently active homes in San Rafael (including homes that are active and contingent) have been on the market for an average of 51 days (and are priced at an average of $1.1 million– $526 per sq. ft.) and homes that sold in the past month were on the market an average of 64 days (and sold for an average price of $1.03 million — $505 per sq. ft.).

If you would like me to run the exact numbers on your neighborhood, just give me a call at (415) 350-9440. It is my pleasure to be of service.

Marin County Hiking, Biking, Camping (and some of the Best of the North Bay, Bay Area, and California)

Few have it better than us. Marin is a wilderness lover’s haven from the rest of the World’s chaos. With 80% of Marin’s lands preserved, it is no wonder that outdoor enthusiasts from hikers & bikers, kite-flyers and lepidopterists, all flock to our wonderful area in the North Bay. Below is a list of bests, as determined by Tom Stienstra of the San Francisco Chronicle.

Here are Tom’s picks for the Best in the Bay Area:

Hikes:

• Skyline to the Sea, headquarters to Berry Creek Canyon, Big Basin Redwoods
• Coast Trail, Point Reyes
• Montara Mountain Trial, San Pedro Valley
• Trail Camp Loop, Castle Rock State Park
• Steep Ravine Trail, Mount Tamalpais

Bike Rides:

• Bay Bridge Trail, Crystal Springs
• Skyline to the Sea, Rancho del Oso up Waddell Creek
• Tennessee Valley to the ocean, Marin Headlands
• Golden Gate Promenade to the Golden Gate Bridge, San Francisco

Campgrounds:

• Tomales Bay boat-in, Point Reyes
• Sunset hike-in, Big Basin
• Wildcat hike-in, Point Reyes
• Sky Camp, Point Reyes
• Pantoll walk-in, Mount Tamalpais

Waterfalls:

• Berry Creek/Golden Falls, Big Basin
• Alamere Falls, Point Reyes
• Cataract Falls, Mount Tamalpais
• Carson Falls, Marin Watershed

Dog Walks:

• Sunol Preserve, Sunol
• Point Isabel, Berkeley
• Fort Funston, San Francisco
• Kent Pump Trail, Marin

Below are Tom’s picks for the Best In California:

Prettiest Lakes:

• Emerald Bay, Lake Tahoe
• Donnell Reservoir, Stanislaus Nat. Forest
• Tenaya Lake, Yosemite

Prettiest Rivers:

• McCloud River, Shasta County
• Smith River, Del Norte County
• Rush Creek Headwaters, Ansel Adams Wilderness

Hikes to Prettiest Views:

• Yosemite Point, Yosemite
• Mitchell Peak, Jennie Lakes Wilderness
• Glacier Point to Sentinel Dome, Yosemite

Family Destinations:

• Camp Richardson, Lake Tahoe
• MacKerricher State Park, Fort Bragg
• Lake Siskiyou, Mount Shasta

Fly Fishing for Trout:

• Sacramento River, Redding (by boat)
• Fall River (by pram)
• Pit River
• East Walker River

Rafting Rivers:

• Main Stem Tuolumne
• Salmon River
• Forks of the Kern
• Upper Klamath

Marin County Real Estate Update (Homes For Sale & Price Ranges)

The number of homes for sale (inventory) continues marching upwards as Spring beckons?countywide, there are 549 active listings (up from 459 active listings this time last month). The high point (in terms of the sheer number of homes for sale in Marin County) will likely be May. While the number of homes for sale has gone up, it is still very low historically (especially in Greenbrae, which has only 9 active listings).

The graph below breaks down the current number of homes for sale in Marin County, California, as of April 1, 2007, along with the price ranges for each town/city. Also included is an arrow noting whether inventory is up or down over the past month:

Marin Single Family Homes For Sale

Some observations: If you want to live in Belvedere, you?ll need just about $2 million to buy at the entry level; The average listing price of homes in Kentfield is almost $4.5 million; on the other hand, Novato has 31 homes under $750,000, with an average asking price of $653,000 and average time on market over 42 days for homes in this price range. The largest spread in price range belongs (again) to Corte Madera, as the Bill Graham Estate on 11 acres remains Marin?s highest priced active listing at $27 million.

If you desire a more specific analysis of your neighborhood, please give me a call at (415) 350-9440.

Novato Home Sales Update (Market Report 4/1/07)

Overall, the market in Novato is gathering momentum. There are currently 155 active listings (single family homes) for sale (up from 126 last month). About 1/3 of those are priced under $750,000?making Novato a desirable option for buyers priced out of Central and Southern Marin. Indeed, 20 of the 40 homes that sold in Novato during the past month were priced at or below $750,000. By comparison, Mill Valley, at the time of this writing, has just one listing under $750,000.

Nicely maintained and updated homes, located in nice neighborhoods with good schools (and, of course, priced well) are seeing multiple offers and selling quickly. Multiple offers today, however, does not translate into overbidding as it did a couple of years ago. Buyers are still in the driver?s seat for most properties in Novato. In fact, even in the $600,000 price range, there are homes lingering on the market (there are currently 13 active homes (not condos) at or below $625,000).

Homes priced above $800,000 in Novato are slow (just 8 of 42 homes between $800,000 and $1 million are is escrow). Buyers in this price range are cautious?the percentage of homes in escrow is in line with expectations and just up from last month.

Novato?s upper-end market is characterized by newer homes and those with a country feel on large lots. Rush Creek (off of Atherton Avenue) leads the way in recent sales of homes in Novato priced over $1.25 million. Interestingly, inventory in this price range has more than doubled since last month.

Mill Valley Real Estate Market (Home Sales Report)

The low to mid-level real estate market in Mill Valley is selling at a brisk pace. Mill Valley?s sweet spot (homes in the $1 million to $1.5 million range) are in high demand, with nearly 60% of homes in that price range currently in escrow (similar to last month). There are no homes in Mill Valley under $749K and the homes under $900K tend to be smaller, in poorer condition, in less desirable neighborhoods, and/or located on a steep hill, etc. Homes priced above $2 million in Mill Valley have picked up in recent weeks. Last month 28 homes sold with an average sales price of $1,385,696 ($720/sq. ft.). It took an average of 51 days for those homes to sell. Eleven of the homes were priced between $1 million and $1.5 million.

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