San Rafael, California real estate sales jumped again in April 2010. We had 44 trades (compared to 33 in March and 24 in February). The entry level price band (under $600K) remains very hot, with 61% of homes now in escrow. Meanwhile, the $600K to $800K price band (a mix of entry level and move-up homes) remains tepid with 33% of homes in escrow. The inventory for single family homes for sale sits at 170 homes (down incrementally from last month).

Of the 44 homes sold in April 2010, the average:

• days on market was 70 days
• sales price was $819,159
• home size was 2,011 square feet
• $409 per sq. ft. (the average price per square foot has  been trending downwards at an average of about $5 per month for the past few months, although this past month saw the number jump by about 5%).

Homes in Lucas Valley 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. My name is Kyle Frazier. I am a Broker, Realtor, Certified Residential Specialist (CRS), and a Certified Luxury Home Marketing Specialist (CLHMS), with Christie’s Great Estates | Pacific Union International. It is always my pleasure to be of service.

The Novato, California real estate market continues to exhibit strength across nearly all price bands (not so for homes priced above $1.5 million). April 2010 saw 24 sales (same as February 2010). The average sales price of Novato homes in April 2010 rose over 3% to to $656,699. These homes averaged 93 days on market, were about 2,291 sq. ft., and averaged roughly $294 sq. ft.

Novato’s price per square foot has hovered between 3-5% of $300 for a year now — in my mind, we are seeing the gradual recomposition of the market in the era of the “New Normal.” Prices are holding steady. This is good news for those waiting to buy.

Below are the percentages of homes in escrow in each of Novato’s major price bands:

• 56% of homes priced under $500,000;
• 46% of homes between $501,000 and $600,000;
• 54% of homes between $601,000 and $750,000;
• 34% of homes between $751,000 and $1 million;
• 16% of homes between $1 million and $1.5 million;
• 15% of homes between $1.5 million and up.

Of the Novato homes that sold in April 2009:

• 9 homes were priced under $600,000;
• 14 homes priced from $601,00 to $1 million; and
• 1 priced from $1 million and up.

NEW HOMES: The 3 Model Homes being built at The Landing at Hamilton Field (I am the exclusive marketing agent for this project), located adjacent to South Gate, will be open in less than 60 days (Summer 2010). We expect that the first homes will be ready for occupancy in August 2010. Pricing will begin in the mid-$800,000’s. Interest surrounding this new luxury community has been significant. Please call me at (415) 350-9440 for more information. Or visit our website at www.TheLandingNovato.com.

Again, if you would like me to run the exact numbers for your Novato neighborhood or if you have any questions about Novato’s many delightful communities, just give me a call at (415) 350-9440. My name is Kyle Frazier. I am a Broker, Realtor, Certified Residential Specialist (CRS), and a Certified Luxury Home Marketing Specialist (CLHMS), with Christie’s Great Estates | Morgan Lane Marin Real Estate (Pacific Union International). It is always my pleasure to be of service.

Postscript: Homes in Pointe Marin, Country Club, Hamilton Field, Rush Creek, and Bel Marin Keys generated the most calls and showings this past month. My listing at 94 Maybeck Street, Novato (South Gate at Hamilton Field) sold for 98.7% of list price in 10 days.

Sales doubled in April 2010 in the 94920 zip code, which covers Tiburon and Belvedere, CA. – we had 14 trades. Importantly, as evidenced by the chart below, median sales prices are up 15%. Moreover, the number of escrows is up 42% over last year. We are seeing increased all cash activity as last month saw at least two sales over $3 million were funded in cash. I think it is fair to say that the majority of real estate practitioners would agree that the field has tilted back to neutral position in most price bands.

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

Magical Tam Valley home on large, private lot. An easy two-minute walk to Eastwood Park (tot lot, grass field, tennis courts, basketball, etc.). Three bedrooms and 2 baths upstairs, along with several outdoor entertaining spaces and wrap around decks. The many large windows and skylights provide lots of natural light and a feeling of connectedness with the outdoors. Large in-law unit below main home. Excellent commute location.

For more information, call Kyle Frazier at (415) 350-9440 or go to www.617Springfield.com. 

• Kyle Frazier
• Certified Luxury Home Marketing Specialist, Certified Residential Specialist
• Pacific Union International | Morgan Lane | Christie’s Great Estates
• Text/Cell: (415) 350-9440

As with many of Marin County’s micro-markets, Marin’s luxury home market is showing signs of increased velocity and buyer optimism. As reported in previous months, “real buyers” continue to snap up homes in prestige locations such as Belvedere, Ross, Kent Woodlands, etc., along with “value” properties with locational upside, views of San Francisco, southern exposures, knolltop properties. In the $2 million to $4 million price band, sales have eclipsed last year’s low numbers, inventory is down significantly and the number of homes with accepted offers (in escrow) is very high. This combination of factors looks promising for continued improvement. And we are not alone — click HERE for a detailed snapshot of current national trends from the Institute for Luxury Home Marketing. The below chart shows the dramatic increase in the number of luxury homes under contract in Marin County, as compared with last year.

$2 Million to $4 Million Luxury Homes

Following a lackluster January 2010, sales in February and March 2010 increased quite a bit, with 9 trades. Incredibly, we have another 28 homes currently in escrow (there were just 16 in escrow last month). This is a leading indicator of increased sales next month. Certainly, buyers are feeling some urge to buy as it appears that the overall economic environment is improving, the DJIA has trended up over 11,100, and the pricing in the marketplace suggests “value.” However, inventory remains low (although higher than last month) at just 96 homes on the market.

Cities recording March 2010 sales in this price band included: Belvedere (1), Tiburon (3), Mill Valley (1), and Kentfield (3). These homes averaged 141 days on market. Their average sales price was $2.627 million (roughly $660 per square foot), with an average of 4,062 square feet. The absorption rate for Marin homes in this price band is approximately 10 months.

$4 Million & Up Ultra-Luxury Homes

The low inventory level of Marin County’s ultra-luxury market (homes priced in the $4 million and up range) bumped upwards this month — we now have 50 homes for buyers to choose from, compared with 40 last month.

Note: As a member of the Marin Platinum Group, I have access to a database with several dozen luxury homes not currently offered on the MLS, but available for sale. Please contact me regarding your specific desires.

The highest concentrations of homes in this price band are Tiburon and Belvedere. Marin County experienced just one sale last month in this price band — a $6.5 million all-cash sale. Such limited sales activity vitiates the possibility of meaningful analysis. Sales are expected to pick up in the coming months as we head into the traditional selling season.

By: Kyle Frazier, Certified Luxury Home Marketing Marketing Specialist (CLHMS), Certified Residential Specialist (CRS), Broker Associate, Realtor | Christie’s Great Estates — Pacific Union International. Call Kyle Frazier at 415/350-9440 for more luxury home market information in San Francisco and Marin Counties.

To sum up the following report, I point to the chart below — We all know how supply and demand works.

If you want more details, here you go.

The sun is out and spring sports are underway – it is officially real estate season. We have reviewed cyclical and seasonal trends in MarinCounty in an effort to predict the balance of 2010. We are more optimistic today than we have been in twenty four months. It seems consumer demand for Marin and San Francisco real estate is regaining its stride. While some real estate decisions can be postponed, eventually buyers need to buy and sellers need to sell. New listings and new escrows are both up over 100% since the turn of the year.

April 2009 marked the inflection point when buyers began cautiously re-engaging with the Marin County real estate market. A year later, Q1 2010 results for volume ($) and units (#) are up significantly in the core of the market. Like the job market, the first quarter of 2010 may also indicate the stabilization of pricing; a required first step in our market’s recovery. As we look forward in 2010 we are encouraged by the recent increase in MarinCounty (and Bay Area-wide) new inventory (listings). Since March 1st, MarinCounty has seen over 450 new listings. Over 175 of these homes have list prices in excess of $1 million.

We continue to analyze buyer behavior and sense their confidence when properties are well priced, staged, and properly presented. Buyers are dismissive of homes that are “over-priced” in order for sellers to leave room for “negotiations”. For well priced homes, buyers are very motivated to act and negotiate within realistic pricing tolerances. In fact, we are again experiencing multiple offers in well priced and positioned properties. Yet, even “hot” properties often require three to five counter-offers to fine tune terms and conditions before the sale is ratified by both parties. Therefore, you need a tough negotiator on your side. 

We are confident that the units sold in 2010 will far outpace 2009, but on a relative basis not to the extent we have experienced in first quarter of 2010. This dramatic increase in first quarter 2010 units sold was a result of very limited activity in first quarter 2009. Our perspective on pricing remains stable, meaning we do not expect significant increases or decreases in pricing at any price point this year.

The Well-Off Are Spending Again – But, Carefully. This article articulates that the wealthy are beginning to spend again on yachts, planes, jewelry and luxury hotels. This all reflects well for residential real estate. The take away for me was the importance of “perceived value” in the eyes of the buyer. “Today nobody wants to be the last monkey in the Tree.” The article be reviewed online at http://www.nytimes.com/2010/04/10/business/10luxury.html?pagewanted=all.

Signs Of Broad Growth – A very healthy outlook on new orders in the global manufacturing business. The service industry lags somewhat, but that is expected. If the current trend continues in manufacturing, the services sector will benefit. Another healthy indicator that re-enforces a recovery, although steady and over the next 24 – 36 months will be positive for real estate. Article may be reviewed on line at http://www.nytimes.com/2010/04/10/business/economy/10charts.html?scp=1&sq=in%20order%20books,%20signs%20of%20broad%20growth&st=Search.

Sales and escrows in the 94920 zip code, which covers Tiburon and Belvedere, CA., remain anemic. In March 2010, we saw just 7 trades. However, the average price per square foot jumped dramatically to $866 (up from just $611 in January). We are seeing increased all cash activity as last month saw at least two sales over $3 million were funded in cash. Moreover, escrow activity is up with 40% of homes listed between $2 mil. and $3 mil. under contract — overall, the number of escrows is up 150% over last year.

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

I have been chomping at the bit to write this monthly report as the market in Mill Valley is bursting with positive indicators. The number of homes sold in the Mill Valley, California real estate market rose nearly 50% over the prior month. Mill Valley’s touchstone price band ($1 million to $2 million) appears to be striding towards normalcy. Not only is seasonal inventory healthy (with more homes for sale than last year), but so too is the percentage of homes in escrow (see below — it is hard to believe!). With most economic indicators pointing towards recovery, the collective thinking among buyers is that now is as good a time as any to buy a home — whether it is a first home or a move-up home. Keep in mind that buyers in Mill Valley are not buying because of government tax credits (a storyline often told in the national press). These buyers, for the most part, are high earners excluded from such programs. These are simply people who have decided the time is right. It has been well over three years since I have heard buyers speak confidently about the market, secure in the fact that they are buying into a good overall market environment.

Based on last month’s total sales, we currently have an overall inventory of homes is down 72 % from last year. Escrows are up 200% ….

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

San Rafael, California real estate sales jumped in March 2010. We had 33 trades (compared to 24 in February). The entry level price band (under $600K) remains active, with 47% of homes now in escrow. Meanwhile, the $600K to $800K price band (a mix of entry level and move-up homes) has stalled a bit with just 28% of these homes in escrow. The inventory for single family homes for sale sits at 176 homes (we had 117 active listings last month). As predicted, we are seeing a massive influx of inventory this Spring as a large number of homes have hit the market as a result of sellers who have stayed out of the market for the past 2 years now feel more confident in the real estate market this year.

Of the 34 homes sold in March 2010, the average:

• days on market was 99 days
• sales price was $697,303
• home size was 1,813 square feet
• $388 per sq. ft. (the average price per square foot has  been trending downwards at an average of about $5 per month for the past few months).

Homes in Lucas Valley, The Dominican, Terra Linda North, Sun Valley, 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. My name is Kyle Frazier. I am a Broker, Realtor, Certified Residential Specialist (CRS), and a Certified Luxury Home Marketing Specialist (CLHMS), with Christie’s Great Estates | Morgan Lane Marin Real Estate (Pacific Union International). It is always my pleasure to be of service.

The Novato, California real estate market continues to exhibit strength across nearly all price bands (not so for homes priced above $1.5 million). March 2010 saw 43 sales (a huge increase from February’s 24 sales and one higher than the very high December 2009 total). The average sales price of Novato homes in March 2010 rose (again) to $653,072. These homes averaged 91 days on market, were about 2,293 sq. ft., and averaged roughly $298 sq. ft.

Novato’s price per square foot has hovered around $300 for a year now — in my mind, we are seeing the gradual recomposition of the market in the era of the “New Normal.” Prices have stabilized and are holding steady (at least at the entry level). I read that one bank has announced a 95% loan to value ratio for California last week — a product that has been almost entirely absent from the market for nearly 2 years.

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

NEW HOMES: The 3 Model Homes being built at The Landing at Hamilton Field (I am the exclusive marketing agent for this project), located adjacent to South Gate, are expected to be completed in June 2010. We expect that the first homes will be ready for occupancy in August 2010. Pricing will begin in the mid-$800,000’s. Interest surrounding this new luxury community has been significant. Please call me at (415) 350-9440 for more information. Or visit our website at www.TheLandingNovato.com.

Again, if you would like me to run the exact numbers for your Novato neighborhood or if you have any questions about Novato’s many delightful communities, just give me a call at (415) 350-9440. My name is Kyle Frazier. I am a Broker, Realtor, Certified Residential Specialist (CRS), and a Certified Luxury Home Marketing Specialist (CLHMS), with Christie’s Great Estates | Morgan Lane Marin Real Estate (Pacific Union International). It is always my pleasure to be of service.