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Marin Real Estate Facts From Recent Sales (June 2014)

June 23, 2014

At $1.1 million dollars, the median sales price in Marin County  is up a healthy 16 percent year over year.   

After two months of holding steady, the MSI once again dropped in May to finish the month at 1.4. Buyers took an average of 52 days to close transactions, a week longer than in April.

Sellers received an average of 99 percent of list price, nearly identical to levels observed the preceding May.

Defining Marin County: Our real estate markets in Marin County include the cities of Belvedere, Corte Madera, Fairfax, Greenbrae, Kentfield, Larkspur, Mill Valley, Novato, Ross, San Anselmo, San Rafael, Sausalito, and Tiburon. Sales data in the adjoining chart includes single-family homes in these communities.

Tiburon / Belvedere Home Sales & Real Estate Market Report | June 2014 | Pacific Union International

June 14, 2014

Tiburon / Belvedere Home Sales & Real Estate Market Report | June 2014 | Pacific Union International. May 2014 was a fairly slow month for home sales in Tiburon and Belvedere, CA. Marin’s most coveted luxury home enclaves of Tiburon and Belvedere (located in Southern Marin County — just across the Golden Gate Bridge from San Francisco) recorded just 14 sales. On the Tiburon Peninsula, homes priced below $2 million are generally considered entry level.

Video About Tiburon & Belvedere, California By Kyle Frazier, Luxury Home Specialist, Top Agent, Pacific Union International Real Estate (Marin County Realtor, CRS, CLHMS, J.D.) | Neighborhoods, Schools, Homes For Sale, MLS, Listings, Shopping, Recreation, Real Estate Trends.

About Tiburon – Belvedere, California (Marin County Town Profile Video) from Kyle Frazier

Below are the percentages of Belvedere and Tiburon homes in escrow in each of the major price bands:

  • 50% of homes priced under $2 million;
  • 41% of homes between $2 million and $3 million;
  • 30% of homes between $3 million and $5 million;
  • 9% of homes over $5 million.

Tiburon and Belvedere homes that sold in May 2014, exhibited the following characteristics:

  • Number of Sales: 14
  • Average Days on Market: 188
  • Price: $3.153 million
  • Square Feet: 3,623
  • Price per Square Foot: $859

If you have any 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 Top Agent, Broker, Certified Residential Specialist (CRS), and Certified Luxury Home Marketing Specialist (CLHMS) with Christie’s Great Estates | Pacific Union International Realtors.

And if you are a buyer, I am also a member of the Top Agent Network (Top 10% in Marin County) and the Marin Platinum Group (Top 100 agents in Marin County). These are elite agent networks with access to dozens of homes being marketed informally and not on the MLS. It is always my pleasure to be of service.

Kyle Frazier, Pacific Union Int'l

Mill Valley Real Estate Report (June 2014 Home Sales Update) | Pacific Union

June 14, 2014

Mill Valley Real Estate Report (June 2014 Home Sales Update) | Pacific Union. As we enter Summer, which is typically a slower time of year, the market remains tormented by low inventory levels across the board. The result of this low inventory has been brisk sales of homes that do come to market. In May 2014, we had 38 single family home sales. These homes traded on average for $1.693 million and averaged 2,165 sq. ft. (or about $768 per sq. ft.). Comparing these numbers to past market updates, one can see a dramatic rise in both sale prices and price per foot over the past year. Although last year saw a sudden spike in prices, many homes in Mill Valley today are seeing extraordinary multiple offers and bids up to 20% above asking price. This momentum goes beyond entry level homes (investors have begun to step aside as prices have rendered margins toos narrow) to the luxury segment over $2 million (we had 13 homes sell for over $2 million in May, compared with 4 in January).

Just 47 single family homes are currently active on the market in all of Mill Valley (while up a shade from last month, this is still low). The current absorption rate in Mill Valley is very low — it stands at about 1 month (6 months is considered “balanced”).

Below are the percentages of homes in escrow in each of Mill Valley’s major price bands:
■56% of homes priced under $800,000;
■73% of homes between $801,000 and $1 million;
■41% of homes between $1 million and $1.5 million;
■24% of homes between $1.5 million and $2 million;
■33% of homes between $2 million and up.

Of the 47 homes that sold in May 2014:
■5 homes were priced under $800,000;
■14 homes priced from $800,000 to $1.5 million; and
■19 homes priced from $1.5 million and up.

MLS Listings in Boyle Park, Middle Ridge and Strawberry generated the most calls and showings this past month. If you would like me to run the exact numbers for your Mill Valley neighborhood or if you have any questions about Mill Valley schools or its many delightful communities, just give me a call at (415) 350-9440. My name is Kyle Frazier. I am a Top Agent, J.D., Broker, Realtor, Certified Residential Specialist (CRS), and a Certified Luxury Home Marketing Specialist (CLHMS), with Christie’s Great Estates | Pacific Union International Real Estate. It is always my pleasure to be of service.

Kyle Frazier, Pacific Union Int'l

Pacific Union San Rafael, CA Real Estate Update (June 2014 Real Estate Report)

June 14, 2014

Pacific Union San Rafael, CA Real Estate Update (June 2014 Real Estate Report). May 2014 single family home sales in San Rafael were quite strong considering the lack of inventory. In all we had 30 single family home sales. As noted in my updates for the past year, the number of homes for sale in San Rafael is low (as of this writing, there were just 59 homes in active status on the MLS).  San Rafael’s absorption rate remains near the lowest point in memory (I have been saying this for months now) with just over 1 month’s worth of homes for sale — e.g., the number of homes on the market is enough to satisfy just under a month’s worth of sales. As with much of the rest of Marin, it appears most sellers are holding out for higher prices. Nonetheless, this is an extraordinary time to sell! Eventually, we will reach an inflection point where sellers who have been holding off waiting for prices to rise will suddenly enter the market.

Averages relating to San Rafael home sales in May 2014 are as follows:

  • days on market — 36 (extremely low)
  • sales price — $1.009 million
  • home size was 2,165 square feet
  • $480 per sq. ft.

Properties in Los Ranchitos, Lucas Valley Estates, Peacock Gap, The Dominican, and Sun Valley  generated the most calls and showings this past month. If you would like me to run the exact numbers for your San Rafael, CA neighborhood or if you have any questions about our many delightful communities, schools, shopping options, etc., just give me a call at (415) 350-9440. My name is Kyle Frazier. I am a Top 1% in Marin, a J.D., Broker, Realtor, Member of the Top Agent Network & Marin Platinum Group, a Certified Residential Specialist (CRS), and a Certified Luxury Home Marketing Specialist (CLHMS), with Christie’s International Real Estate | Pacific Union International. It is always my pleasure to be of service.

Kyle Frazier, Pacific Union Int'l

Pacific Union International | Novato Real Estate Market Update (June 2014 Novato Home Sales Report)

June 14, 2014

Pacific Union International | Novato Real Estate Market Update (June 2014 Novato Home Sales Report). Novato, CA., experienced a very healthy amount of sales in May 2014 — 65 single family homes sold. Given the incredibly low level of inventory, this is a strong number (I will address the absorption rate below). Buyers continue to act very decisively on desirable homes. Strong terms are the norm. Multiple offers are common on entry level homes (anything under $700,000). In addition, even $1 million+ homes which are priced appropriately are selling in a competitive bidding environment. The average sale price for Novato homes in May 2014 was $813K (up from $737K in March 2014). Novato’s luxury sector (defined here as listings over $1 million) continued its impressive performance with 12 sales (compared with 4 in March). Currently, there are an additional 13 homes in Novato under contract with a list price over $1 million (this amount to 39% of Novato luxury homes being in escrow).

My advice to sellers remains the same — “Get your house on the market immediately!” CALL ME if you are thinking of selling. My systems can get you on market quickly with the very best marketing available.

Novato real estate sales in May 2014 averaged 56 days on market, were about 2,259 sq. ft., and averaged roughly $379/sq. ft. Novato’s absorption rate (e.g., number of months’ inventory of homes for sale based on last month’s sales totals) is less than 1-month. Indeed, of the 55 single family homes actively for sale in Novato, roughly 1/2 of them came to market in the past 14 days. Indeed, this is a very low absorption rate — balanced markets have 6 months worth of inventory — with very high buyer demand especially at prices at or below $850K.

Below are the percentages of homes in escrow in each of Novato’s major price bands:
■ 83% of homes priced under $500,000;
■ 69% of homes between $501,000 and $750,000;
■ 46% of homes between $751,000 and $1 million;
■ 39% of homes between $1 million and up.

Of the 55 homes that sold in May 2014:
■ 2 homes sold under $500,000;
■ 51 homes sold from $501,00 to $1 million; and
■ 12 homes sold for $1 million and up.

Single family homes in Hamilton Field, Pointe Marin, Marin Country Club Estates, Rush Creek, and Bel Marin Keys generated the most calls and showings this past month. If you would like me to run the exact numbers for your Novato neighborhood or if you have any questions about Novato’s schools or many delightful communities, just give me a call at (415) 350-9440. My name is Kyle Frazier. I am a J.D., Broker, Realtor, Certified Residential Specialist (CRS), and a Certified Luxury Home Marketing Specialist (CLHMS), with Christie’s Great Estates | Pacific Union International Real Estate. It is always my pleasure to be of service.

Pacific Union International | Novato Real Estate Market Update (April 2014 Novato Home Sales Report)

April 19, 2014

Pacific Union International | Novato Real Estate Market Update (April 2014 Novato Home Sales Report). Novato, CA., experienced 39 single family home sales in March 2014. Given the incredibly low level of inventory, this is a very strong number (I will address the absorption rate below). Buyers continue to snap up desirable homes with very strong terms. Offers on well priced homes are made quickly and decisively. The average sale price was $737K in in March 2014. Novato’s luxury sector (defined as listings over $1 million) continued its impressive performance with 4 sales. Currently, there are 18 homes in Novato under contract with a list price over $1 million (56% of such homes are in escrow).

My advice to sellers remains the same — “Get your house on the market immediately!” CALL ME if you are thinking of selling. My systems can get you on market quickly with the very best marketing available.

Novato real estate sales in March 2014 averaged 66 days on market, were about 2,061 sq. ft., and averaged roughly $375/sq. ft. Novato’s absorption rate (e.g., number of months’ inventory of homes for sale based on last month’s sales totals) is a scantly over 1-month’s worth of inventory (indeed, of the 51 single family homes actively for sale in Novato, roughly 1/2 of them came to market in the past 10 days).

[For the rest of the article, courtesy of Novato101.com, please click here]

Kyle Frazier, Pacific Union Int'l

 

Tiburon / Belvedere Home Sales & Real Estate Market Report | March 2014 | Pacific Union International

March 26, 2014

Tiburon / Belvedere Home Sales & Real Estate Market Report | March 2014 | Pacific Union International. While February is generally slow in terms of Tiburon and Belvedere home sales, Febraury 2014 was incredibly slow. In fact, Marin’s most coveted luxury home enclaves of Tiburon and Belvedere (located in Southern Marin County — just across the Golden Gate Bridge from San Francisco) recorded a mere 5 trades. While previous months began to give sellers in the ultra-luxury market sector of homes over $3 million hope that strngth was returning, sales in this elite price band were completely absent (this segment has been very slow for some time).

On the Tiburon Peninsula, homes priced below $2 million are generally considered entry level. Yet, even sales in the entry level seem to be lagging the rest of the county as a mere 38% of such homes are in escrow with 5 being actively marketed on the MLS.

Video About Tiburon & Belvedere, California By Kyle Frazier, Luxury Home Specialist, Top Agent, Pacific Union International Real Estate (Marin County Realtor, CRS, CLHMS, J.D.) | Neighborhoods, Schools, Homes For Sale, MLS, Listings, Shopping, Recreation, Real Estate Trends.

About Tiburon – Belvedere, California (Marin County Town Profile Video) from Kyle Frazier

Below are the percentages of Belvedere and Tiburon homes in escrow in each of the major price bands:

  • 38% of homes priced under $2 million;
  • 40% of homes between $2 million and $3 million;
  • 36% of homes between $3 million and $5 million;
  • 15% of homes over $5 million.

Tiburon and Belvedere homes that sold in February 2014, exhibited the following characteristics:

  • Number of Sales: 5
  • Average Days on Market: 73
  • Price: $1.7 million
  • Square Feet: 2,294
  • Price per Square Foot: $857

If you have any 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 Top Agent, Broker, Certified Residential Specialist (CRS), and Certified Luxury Home Marketing Specialist (CLHMS) with Christie’s Great Estates | Pacific Union International Realtors.

And if you are a buyer, I am also a member of the Top Agent Network (Top 10% in Marin County) and the Marin Platinum Group (Top 100 agents in Marin County). These are elite agent networks with access to dozens of homes being marketed informally and not on the MLS. It is always my pleasure to be of service.

Kyle Frazier, Pacific Union Int'l

Mill Valley Real Estate Report (March 2014 Home Sales Update) | Pacific Union

March 25, 2014

Mill Valley Real Estate Report (March 2014 Home Sales Update) | Pacific Union. As we make our run into Mill Valley’s primary selling season, the market remains tormentd by low inventory levels across the board. Reflecting this, we had a very low number of single family home sales in February 2014 — just 17 properties sold (same as January). These homes traded on average for $1.46 million and averaged 2,095 sq. ft. (or about $690 per sq. ft.).

Comparing these numbers to past market updates, one can see a dramatic rise in both sale prices and price per foot over the past year with much of the increase taking place early in 2013. Like all towns in Marin County, California (San Francisco’s “North Bay” region), the number of Mill Valley homes sold as sellers continue to show reluctance in bringing homes to market. Multiple offer situations are quite common when it comes to fairly priced homes under $2 million. This momentum extends from the entry level (where entry level buyers are in fierce compeitiotn with investors who are very actively pursuing a purchase and rent strategy) to the luxury segment over $2 million (we had 4 homes sold in January for $2 million+ with another 6 in escrow now).

Climbing into the Spring selling season, just 42 single family homes are currently active on the market in all of Mill Valley (while up from last month, this is still low). The current absorption rate in Mill Valley remains very low — it stands at about 2.5 months (6 months is considered “balanced”).

[For the rest of this article, courtesy of MillValley101. com please click HERE]

Kyle Frazier, Pacific Union Int'l

Pacific Union San Rafael, CA Real Estate Update (March 2014 Real Estate Report)

March 25, 2014

Pacific Union San Rafael, CA Real Estate Update (March 2014 Real Estate Report). February 2014 single family home sales in San Rafael more than doubled in Fenruary, despite the short month, with 30 trades. As noted in my updates for the past year, the number of homes for sale in San Rafael is very low (as of this writing, there were just 43 homes in active status on the MLS).  San Rafael’s absorption rate remains near the lowest point in memory (I have been saying this now for months) with just over 1.5 month’s worth of homes for sale — e.g., the number of homes on the market is enough to satisfy just under a month’s worth of sales. As with much of the rest of Marin, it appears most sellers are holding out for higher prices. Nonetheless, this is an extraordinary time to sell! Eventually, we will reach an inflection point where sellers who have been holding off waiting for prices to rise will suddenly enter the market.

Averages relating to San Rafael home sales in March 2014 are as follows:

  • days on market — 109
  • sales price — $965K.
  • home size was 1,903 square feet
  • $528 per sq. ft.

Properties in Los Ranchitos, Lucas Valley Estates, Peacock Gap, The Dominican, and Sun Valley  generated the most calls and showings this past month. If you would like me to run the exact numbers for your San Rafael, CA neighborhood or if you have any questions about our many delightful communities, schools, shopping options, etc., just give me a call at (415) 350-9440. My name is Kyle Frazier. I am a Top 1% in Marin, a J.D., Broker, Realtor, Member of the Top Agent Network & Marin Platinum Group, a Certified Residential Specialist (CRS), and a Certified Luxury Home Marketing Specialist (CLHMS), with Christie’s International Real Estate | Pacific Union International. It is always my pleasure to be of service.

Kyle Frazier, Pacific Union Int'l

Tiburon / Belvedere Home Sales & Real Estate Market Report | February 2014 | Pacific Union International

February 15, 2014

Tiburon / Belvedere Home Sales & Real Estate Market Report | February 2014 | Pacific Union International. In a traditionally slow month for home sales in Marin County, the luxury home enclaves of Tiburon and Belvedere, CA (located in Southern Marin County — across the Golden Gate Bridge from San Francisco) recorded 12  trades in January 2014. The Marin County ultra-luxury market sector (we had 4 homes trade for over $5 million in Tiburon and Belvedere last month), giving sellers in this elite price band confidence in their prospects for a sale in 2014 (this segment has been very slow for some time).

On the Tiburon Peninsula, homes priced below $2 million are generally considered entry level. Even sales in the entry level seem to be lagging the rest of the county as 50% of homes are in escrow with 5 being actively marketed on the MLS.

Video About Tiburon & Belvedere, California By Kyle Frazier, Luxury Home Specialist, Top Agent, Pacific Union International Real Estate (Marin County Realtor, CRS, CLHMS, J.D.) | Neighborhoods, Schools, Homes For Sale, MLS, Listings, Shopping, Recreation, Real Estate Trends.

About Tiburon – Belvedere, California (Marin County Town Profile Video) from Kyle Frazier

Below are the percentages of Belvedere and Tiburon homes in escrow in each of the major price bands:

  • 50% of homes priced under $2 million;
  • 25% of homes between $2 million and $3 million;
  • 14% of homes between $3 million and $5 million;
  • 0% of homes over $5 million.

Tiburon and Belvedere homes that sold in February 2014, exhibited the following characteristics:

  • Number of Sales: 12
  • Average Days on Market: 347
  • Price: $3.164 million
  • Square Feet: 3,780
  • Price per Square Foot: $857

If you have any 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 Top Agent, Broker, Certified Residential Specialist (CRS), and Certified Luxury Home Marketing Specialist (CLHMS) with Christie’s Great Estates | Pacific Union International Realtors.

And if you are a buyer, I am also a member of the Top Agent Network (Top 10% in Marin County) and the Marin Platinum Group (Top 100 agents in Marin County). These are elite agent networks with access to dozens of homes being marketed informally and not on the MLS. It is always my pleasure to be of service.

Kyle Frazier, Pacific Union Int'l

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