Marin County, California, Luxury Homes Report (January 2010–Sales and Inventory Analysis)

Home sales in Marin County, California’s luxury price bands continue to recover from the proverbial wasteland of late 2008 and early 2009 when it seemed as though the luxury home market would never recover. Yet, as reported in previous months, real buyers continue to snap up homes in prestige locations such as Belvedere, Ross, Kent Woodlands, etc. Indeed, “value” properties are gobbled up quickly. Despite this apparent thirst for luxury digs, inventory levels remain 40% higher than two years ago. This year will see a pronounced uptick in short sales in these price bands — please contact me to discuss how this impacts your plans.

This trend is not unique to Marin, but prevails nationwide. For a detailed snapshot of current national trends from the Institute for Luxury Home Marketing, click HERE.

[Click here for the rest of this report detailing the Marin County, CA luxury real estate market,

courtesy of www.ImagineMarin.com.] 

Marin County, CA. Real Estate Update — January 2010 (Homes For Sale & Price Ranges)

When Will Marin County Real Estate Markets Return To Normal?

 

 

Tiburon & Belvedere CA Real Estate Market Report (January 2010 Home Sales Update)

Tiburon and Belvedere have posted $5 million and up sales every month for the past six months. While overall sales and activity remain choppy, anecdotally, we are seeing that interest in these tony nieghborhods rise, along with interest in high-end luxury homes. There are currently 71 listings in the 94920 zip code (compared with 72 last month), which covers Tiburon and Belvedere, CA. 

In the lower price bands, activity is strong, with 9 sales in the sub-$3 million price range. In sum, there were 13 sales in December 2009 — more than double the sales total in November 2009. Below is a graph comparing median prices over the past year. While the sales totals remain similar to that of late 2007 (well before the financial crisis of September 2008), inventory is up 43%.

For homes that sold in December 2009, the average price per square foot was $714 — a number drifting down to August’s $674 nadir. Below are the percentages of homes in escrow in each of the major price bands:

• 41% of homes priced under $2 million (up 21% from last month);
• 13% of homes between $2 million and $3 million (up 1% from last month);
• 14% of homes between $3 million and $5 million (down 4% from last month);
• 0% of homes over $5 million (same as last month).

Tiburon and Belvedere homes that sold in December 2009 exhibited the following characteristics:

• Number of Sales: 13
• Average Days on Market: 198
• Price: $2,261,538
• Square Feet: 3,249
• Price per Square Foot: $714

If you have any other questions or would like a custom market analysis of your home’s current likely sales price, please call me at (415) 350-9440. My name is Kyle Frazier. I am a Broker, Certified Residential Specialist (CRS), and Certified Luxury Home Marketing Specialist (CLHMS) with Christie’s Great Estates | Morgan Lane Marin Realtors. It is always my pleasure to be of service.

p.s. I know of several properties that are not being formally marketed on the MLS, so if you are looking to buy please call me to see if any of these may meet your needs. If you would like a copy of my Tiburon / Belvedere Hotlist, e-mail me at [email protected].

Mill Valley CA. Real Estate Market Report (January 2010 Home Sales Update)

The number of home sales in the Mill Valley, California real estate market rose again in December 2009 — 27 listings sold, compared with 24 in November. Based on last month’s total, we currently have an overall inventory of homes sufficient to last 1.96 months! This is a HUGE reduction from the absorption rate from May 2009, which stood at well over 8 months. Indeed, the number of homes for sale in Mill Valley is an extraordinarily low 53. Meanwhile, asking prices have held steady over the past quarter and stand now at about $610 per square foot. It remains to be seen whether this rise will translate into higher sales prices.

[Click HERE for the rest of the article, courtesy of www.MillValley101.com.]

San Rafael CA Real Estate Market Report (January 2010 Home Sales Update)

San Rafael, California real estate sales slowed in December 2009, with 32 trades, down 33% from November. The entry level price band (under $600K) remains active, with 38% of homes now in escrow. Meanwhile, the $600K to $800K price band (a mix of entry level and move-up homes) has dipped to just 29% of homes in escrow. The inventory for single family homes for sale remains steady at 78 homes. It is expected that this Spring will see a large number of homes hitting the market as sellers who have stayed out of the market for the past 2 years will feel more confident in the real estate market this year.

Of the 32 homes sold in December 2009, the average days on market was 94 days, the average sales price was $871,625, and the average home size was 2,230 square feet — roughly $395 per sq. ft. (the average price per square foot has  remained virtually unchanged for several months). Homes in Lucas Valley, The Dominican, Terra Linda North, and Peacock Gap generated the most calls and showings this past month. If you would like me to run the exact numbers for your San Rafael neighborhood or if you have any questions about our many delightful communities, just give me a call at (415) 350-9440.

Kyle Frazier, Certified Residential Specialist (CRS), and a Certified Luxury Home Marketing Specialist (CLHMS), with Christie’s Great Estates | Morgan Lane Realtors | Pacific Union International. It is always my pleasure to be of service.

Novato Real Estate Market Update (January 2010 Home Sales Report)

• 67% of homes priced under $500,000 (74% last month);
• 66% of homes between $501,000 and $600,000 (65% last month);
• 42% of homes between $601,000 and $750,000 (53% last month);
• 33% of homes between $751,000 and $1 million (same as last month);
• 24% of homes between $1 million and $1.5 million (19% last month);
• 0% of homes between $1.5 million and up.

[Click HERE for the rest of the article, courtesy of www.Novato101.com.]

South Gate at Hamilton Field, Novato (94 Maybeck Street | Home For Sale)

In Escrow 1/16/10 — This is a special home with immutable qualities not found in other South Gate at Hamilton Field listings. Most signifricantly, this gorgeous home is sited adjacent to the wetlands restoration project and has no immediate neighbor to the east or north. Even the neighbor to the west is set back — a very rare combination. Located at 94 Maybeck Street, this home features 5 bedrooms and 3 baths (with a bed and bath downstairs), a chef’s kitchen, and a large yard with lots of grass and tasteful landscaping.

• Contemporary home on the levee, set back from the street
• No rear or immediate northern neighbors
• 5 Bedrooms, 3 Baths, 2-car attached garage
• Master Bedroom with his-and-hers walk in closet and large master bath
• Formal Dining Room with vaulted ceiling opens to Living Room
• Chef’s kitchen with island, ample storage space, and granite counters, 5-burner gas range, built-in microwave, breakfast nook and work station, and pantry
• Utility/Laundry Room
• Fabulous views toward The Bay from upstairs
• Gorgeous landscaping with large grassy areas in the front, side, and back yards and mature trees
• Vegetable garden patch
• Fireplace with slate surround and custom mantle
• Media center built-ins in Family Room
• Wired for internet, cable, and phone
• Fire suppression sprinklers throughout home
• Automated landscape and lawn irrigation system
• Backs to open space with direct access to the proposed Bay Trail
• Close to all Hamilton amenities: South Gate Park, Pool, YMCA, Public Library, Art Museum, Café, Hangars, Little League, Soccer Fields, Racquetball Courts, Tennis Courts, Basketball Courts, Hamilton Landing businesses, Hamilton Marketplace, skateboard park, and Gymnasium
• Nearby shopping and dining include the newly opened Hamilton Marketplace including Safeway, Pete’s Coffee, Sonoma Latina Grill, La Boulange, Pasta Moto, and Toast
• Enjoy the quick Southern Novato commute to SF with HWY 101 widening project completed (southbond and northbound carpool lanes both opened)

• Property Address: 94 Maybeck Street Road, Novato, CA 94949
• Listing Price: $842,000
•  www.94Maybeck.com

If you would like to learn more about this lovely South Gate at Hamilton Field, Novato home on the levee or set up an appointment to see it, please call Kyle Frazier, the listing agent, at (415) 350-9440.