Marin County, California, Luxury Homes Report (August 2007 Sales and Inventory Analysis)

The number of active Marin luxury homes fell slightly last month. In the $2 million to $4 million range, the number of active listings fell by twenty-five for a total of 123 homes. Twenty-one Marin homes sold in this price range last month (and another 23 are currently in escrow). Not bad for the dog days of Summer, when sales are often slow. Tiburon, with its views and, good schools, and easy commute to San Francisco, led the way in sales last month with seven. Mill Valley had the second largest number of homes sold last month ? six homes sold. Overall, in Marin County, the average days on market was seventy-two days, the average sales price about $2.6 million (roughly $783/per sq. ft.), and these homes averaged about 3,488 square feet.

In the $4 million and up range, there are currently thirty-nine active homes on the market in Marin, down by eleven from last month. Tiburon boasts the largest number of such homes currently on the market, with ten homes, followed by Belvedere and Ross with seven, and Kentfield with six. There are currently eight of these ultra-luxury homes in escrow. Homes in this category averaged about 243 days on the market, sold for $8.8 million, and had about 7,400 sq. ft. of living space. Finally, the Bill Graham estate in Corte Madera sold for an astonishing $19.9 million cash.

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

If you have any questions about a particular neighborhood or situation, please e-mail Kyle at [email protected].