Marin County Luxury Homes Report (June 2007 Inventory and Sales Update)

The number of Marin luxury homes for sale continues to rise. In the $2 million to $4 million range, the number of active listings is up by 9 for a total of 107 homes. That may seem like a lot. But, 38 homes in that price range sold in Marin last month (up from 23 the month before).

Mill Valley and Tiburon account for the largest number of homes sold last month in the $2 million – $4 million market segment ? 10 homes each (the average days on market was about 52 and the average sales price about $2.8 million). Tiburon and Mill Valley also have the most homes currently in escrow with 20 between them. They are followed by Ross and Kentfield with 3 each.

In the $4 million and up range, there are currently 45 active homes on the market in Marin, up by 1 from last month. Tiburon leads the pack with 18 homes, followed by Belvedere (with 7) and Ross and Kentfield (with 6 each). Sales is this price range are led by Kentfield, which saw 4 homes sell last month with an average days on market of 114 days (this number is skewed because a home sold that had been on the market well over a year), an average selling price of $6.05 million, and an average price per square foot of $1,007. Also, Ross had 2 homes sell and Tiburon had 1. Worth noting, is the fact that the Bill Graham estate in Corte Madera has gone into escrow at an asking price of $24 million.

Below is a graph identifying the numbers of active listings and homes in contract in Marin?s luxury market segment. Note that all homes in contract are included in the category ?Pending? even though some are technically ?Contingent? properties. Call Kyle Frazier, Frank Howard Allen Realtors Marin, at 415/350-9440 with any questions.

Marin Cities & Towns	$2 Million ? $4 Million		$4 Million & Up
	Active	Pending	Active	Pending
Sausalito	11	2	2	0
Belvedere	8	1	7	2
Tiburon	22	3	18	0
Mill Valley	15	11	3	0
Corte Madera	3	0	1	1
Larkspur	2	1	1	0
Greenbrae	0	0	0	0
Kentfield	14	3	6	0
Ross	2	3	6	1
San Anselmo	8	2	0	0
San Rafael	17	1	1	0
Novato	5	1	1	1

Grandview Retreat, Black Point, Novato

Remodeled in 2004, this large air conditioned home (with 4 bedrooms, including the Master, on the same floor) sits on a big fenced lot (about 2/3 acre) with views of the bay to the east and sunsets to the west. The kitchen features large granite counters, designer cabinets, a large island, and opens to a spacious Great Room.

The Master Suite is very large with a slider to a private deck with views of the bay, a large partitioned his and hers walk-in closet, and double doors opening to the amazing master bath. The Master Bath has a massive whirlpool tub, limestone floors and dual shower with bench, granite counters, dual sink, and lots of cabinet space. Each of the remaining bedrooms are very spacious, some with wraparound views of the countryside.

There is a very large Billiards Room downstairs with surround sound wiring. The guest bathroom sparkles with granite counters, porcelain tub, and limestone shower. The Laundry Room, with a porcelain sink and lots of storage, is upstairs with the Master and other bedrooms.

Outside, there is a large grassy area in the back yard, along with a separate children’s play area. The rear of the home also features flowering landscaping (on an automated drip system), numerous fruit trees planted in 2008, and a westerly facing orientation with wonderful sunsets you can enjoy from the rear deck and limestone patio.

This is a very private and serene location, with miles of hiking trails at the rear of the property. Just 25 miles from San Francisco and 15 from the Wine Country. Call Kyle for details (415) 350-9440.

Property Address: 360 Grandview Ave., Novato, CA 94945 

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If you would like to learn more about this contemporary home or set up an appointment to see it, please call Kyle Frazier, the listing agent, at (415) 350-9440. Kyle Frazier, J.D., Broker Associate, CRS Frank Howard Allen Realtors Email: [email protected]

Marin Humane Society Turns 100 Years Old

What do dogs, cats, song birds, chickens, rabbits, and turtles all have in common? A second chance provided by the Marin Humane Society (?MHS?)!

MHS turns 100 this year and is celebrating that milestone on June 3rd with festivities for all ages. There will be contests (e.g., biggest dog, smallest dog, best dog singer (like American Idol?), demonstrations, a group dog walk at 10:00 a.m., drawings, and more.

On a personal note, about 4 years ago, my family adopted a dog from the MHS that had been rescued from a shelter in the Fresno area. Carmen is the greatest dog I have ever had the pleasure to know. A great dog adopted from a great facility and program.

Here is information about the adoption process and links to pictures of the various animals up for adoption. Have fun and don?t forget about the Marin Humane Society when it comes time to select a new pet.

Marin Mothers’ Groups

Mothers’ Groups/Clubs

• Corte Madera/Larkspur Mothers’ Club: playgroups and monthly meetings, 415/451-7234, website
• MOPS (Mothers of Preschoolers): inspirational speakers and monthly meetings, 415/485-1497
• Novato Mothers’ Club: playgroups, outings, and mixers, 415/458-4203, website
• Ross Valley Mothers’ Club: playgroups and family fun, 415/721-4576, website
• San Rafael Mothers’ Club: meetings, 415/451-7355
• Southern Marin Mothers’ Club, meetings for moms in Sausalito, Mill Valley, and Belvedere, 415/273-5366
• Marin Parents of Multiples Club: education, social, and emotional focus on challenges faced by mothers of multiples, website

Other Groups/Sites of Note

• Baby Boot Camp
• Mommytrack’d

Public/Private Pools in Marin

Community Centers

• Hamilton Pool, Novato – 883-6387
• Lucas Valley Community Center, San Rafael – 472-3202
• McNear’s Beach Park, San Rafael – 499-6387
• Marinwood Community Center, San Rafael – 479-2335
• Mill Valley Community Center, Mill Valley – 383-1370
• Sleepy Hollow Pool, San Anselmo – 453-3091
• Strawberry Recreation District, Mill Valley – 383-1610
• Terra Linda Recreation Center, San Rafael – 485-3344

School Pools

• College of Marin, Kentfield – 485-9587
• Indian Valley College Pool, Novato – 457-8811 (x8260)
• Redwood High School Pool, Larkspur – 924-7206
• Tamalpais High School, Mill Valley – 380-3585

Private Clubs

• Bay Club Marin, Corte Madera – 945-3000
• Belvedere Tennis Club, Belvedere – 435-4792
• Lagunitas Country Club, Ross – 453-8706
• Marin Jewish Community Center, San Rafael – 444-8000
• Meridian Sports Club, Novato – 897-2185
• Mill Valley Tennis Club, Mill Valley – 388-2029
• Scott Valley Tennis Club, Mill Valley – 383-3483
• Tiburon Peninsula Club, Tiburon – 435-0968

For information regarding organized swimming, etc., contact the Marin Swim League.

For other outdoor information, see Marin County Beaches ? less crazy, more Zen, Marin County Hiking, Biking, Camping (and some of the Best of the North Bay, Bay Area, and California)

Marin County Real Estate Breaks New Ground

Defying national and statewide trends, the Marin County real estate market posted strong numbers in both sales and prices of homes sold in April 2007. As reported in the Marin Independent Journal (”IJ”), homes sold last month for a median price of $1,010,000 according to figures compiled by DataQuick Information Systems-the first county in California to have a median price of $1 million plus.

Overall, home prices in Marin rose 3.8% between April 2006 and April 2007. In addition, Marin is the only County in the Bay Area to experience an increase in the number of homes sold year over year (albeit by just 4 homes)-meanwhile, the Bay Area overall saw a 20% decrease. As noted by a DataQuick analyst, “Marin dances to its own tune. It always has.”

For last month’s analyses, go to: Marin County Real Estate Inventory (Market Report), Marin County Real Estate Update (Homes For Sale & Price Ranges)

Mill Valley Real Estate Market (5/1/07 Home Sales Report)

Mill Valley home sales and real estate values, as they often do, are performing extremely well. Proximity to San Francisco and the Golden Gate Bridge’s effortless commute combine to keep prices and sales strong even as the national market stagnates.

The bread and butter homes of Mill Valley are priced between $1 million and $1.5 million and sell fast so long as they are nicely maintained, updated, and/or located in the most desirable neighborhoods (although the percentage of homes in escrow fell this past month from 56%?40% of these homes are in escrow indicating a pretty balanced market). As with the rest of Marin, homes priced aggressively 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).

Homes priced in the $2 million – $4 million range continue selling at a respectable pace (34% are in escrow). Homes in Mill Valley that sold during the past month (there were 42 home sales) averaged an astonishingly low 35 days on market (reflecting the fact that homes priced right to begin with sell fast), for an average price of $1,562,619 (about $707 per square foot).

Current absorption rates are lowest (indicating the lowest inventory relative to demand) are extremely in all price ranges except the ultra-luxury $4 million and up price range. In fact, in the under $1 million price range there is less than one month’s worth of inventory on the market. Homes in Almonte, Strawberry, Sycamore Park, Blithedale and Cascade Canyons continue to be in high demand.

Novato Real Estate Market (5/1/07 Home Sales Report)

Novato home sales and real estate values are proving to be somewhat sluggish as we enter the Spring selling season. Novato’s homes that are nicely maintained, updated, and/or located in the most desirable neighborhoods continue to sell at a relatively quick pace (especially those priced under $700,000. Once prices get up above $700,000, however, the percentage of homes in escrow (a good barometer of market strength) dips to about 25%.

Interestingly, homes priced in the $1 million – $1.5 million range are selling at a similar rate (in terms of percentage in escrow) as those in the $700,000 to $1 million price range. Homes in Novato that sold during the past month (there were 43 home sales) averaged about 65 days on market, for an average price of $882,640 (about $433 per square foot). Current absorption rates are lowest (indicating the lowest inventory relative to demand) in the $700,000 to $800,000 price range–there is about a three month inventory. Homes in Hamilton Field, Pointe Marin, Presidents, Rush Creek, San Marin, Partridge Knoll, and Atherton Ranch continue to be in high demand, as do the new luxury homes at Stonetree.

Marin County Real Estate Inventory (Market Report)

Marin County, California, sits just north of San Francisco?s Golden Gate Bridge, straddling Highway 101, and boasts some of the most valuable real estate in the Bay Area. Homes for sale in Marin County (cities and towns include: Mill Valley, Sausalito, Tiburon, Belvedere, Corte Madera, Larkspur, Greenbrae, Kentfield, Ross, San Anselmo, San Rafael and Novato) have, by and large, maintained their value over the past 2 years.

The following is a brief rundown of the absorption rates and trends (based on last month?s numbers) in Marin County, as of May 1, 2007:

Current Absorption Rates (single family homes):

As the chart reflects, absorption rates are very low in most Marin towns. Is this is a sign of a strengthening market or just lower inventory? Time will tell. Certainly, these low absorption rates exist in an environment of increasing inventory (Marin currently has 647 active listings, up by about 98 from a month ago). Novato’s 3.3 months of housing inventory is highest in the County, followed by Ross, Tiburon, and Sausalito. At the low end of inventory is Greenbrae (as always) and Mill Valley. Meanwhile, Kentfield, Corte Madera, and Larkspur sit somewhere in the middle.

Generally speaking, when the absorption rate is under 3 months, we consider the market one that favors the sellers. When the absorption rate is between 3 to 6 months, you have a more balanced market. Once you get above 6 months, however, prices tend to make meaningful strides downward. This information, in conjunction with other market statistics, is useful for buyers and sellers to help determine the relative status of the real estate market in Marin or elsewhere. If you would like to discuss the interplay of statistics and market strength, please e-mail Kyle Frazier at [email protected]

*Note: If your town?s absorption rate is not sampled above, or if you would like information on condominiums, please call me at (415) 350-9440 or go to NorthBayRE.com. If you would like to discuss how the absorption rate reflects the overall state of the market in general, or in your neighborhood, give me a call.

San Rafael Real Estate Market (5/1/07 Home Sales Report)

Like most of Marin County real estate markets, the San Rafael real estate market is performing well relative to the rest of the country. The bread and butter homes of San Rafael are priced between $750,000 and $900,000. These homes tend to sell fairly quickly so long as they are nicely maintained, updated, and/or located in the most desirable neighborhoods (although the percentage of homes in escrow fell this past month).

San Rafael Home priced in the $1 million – $1.5 million range continue selling at a respectable pace (47% are in escrow). Homes that sold during the past month (there were 50 home sales) averaged about 53 days on market (note that active homes have been on an average of 50 days–underscoring the need to price homes right at the outset), for an average price of $1,019,250 (about $517 per square foot).

Current absorption rates are lowest (indicating the lowest inventory relative to demand) are relatively stable and strongest in the $1 million to $1.5 million price range. Strong markets include Glenwood, The Dominican, Terra Linda, Marinwood, and Upper Lucas Valley.

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