Marin County, California, Luxury Homes Report (January 2008–Sales and Inventory Analysis)
Marin County’s $2 million to $4 million luxury market continues to experience a seasonal reduction of inventory–we now have 47 active listings compared to 76 homes in December 2007. Six homes sold last month. Belvedere accounted for two sales. Larkspur, Kentfield, San Anselmo, and San Rafael had 1 sale each. The average days on market for homes that sold was 85 days, the average sales price about $3.14 million (roughly $847/per sq. ft.).
The inventory level in Marin County’s ultra-luxury market (homes priced in the $4 million and up range) dipped slightly to 26 active homes on the market (down by 7 from December 2007). Tiburon, as usual, boasts the largest number of such homes with 9. It is followed by Belvedere with 6, Kentfield with 4, and Ross with 3. With 6 sales last month, the ultra-luxury market in Marin surged forward (there 6 such sales in September 2007, 4 in November 2007, and just 1 in December 2007). There are, however, just 2 ultra-luxury homes currently in escrow. Homes in this category averaged a lengthy 214 days on the market and sold for about $5.77 million (approximately $1,217 per square foot). Marin’s most expensive home is a unique gated Tiburon estate sitting on eight acres with stunning views and resplendent gardens–asking price: $38.5 million. In addition, Locksley Hall, a Belvedere Island estate, sold for $65 million off the market.
|
Marin Cities & Towns |
$2 Million ? $4 Million |
$4 Million & Up |
||
|
Active |
Pending |
Active |
Pending |
|
|
Sausalito |
3 |
0 |
1 |
0 |
|
Belvedere |
9 |
1 |
6 |
0 |
|
Tiburon |
11 |
4 |
9 |
1 |
|
Mill Valley |
8 |
4 |
1 |
0 |
|
Larkspur |
0 |
2 |
0 |
0 |
|
Corte Madera |
2 |
0 |
0 |
0 |
|
Kentfield |
4 |
0 |
4 |
0 |
|
Greenbrae |
1 |
1 |
0 |
0 |
|
Ross |
2 |
3 |
3 |
1 |
|
San Anselmo |
3 |
1 |
0 |
0 |
|
San Rafael |
1 |
1 |
2 |
0 |
|
Novato |
4 |
0 |
0 |
0 |
The above graph identifies the numbers of active listings and homes in contract in the Marin County luxury and ultra-luxury home market segments. Note that all homes in contract are included in the category ?Pending? even though some are technically ?Contingent? properties (e.g., the buyers have not removed all contingencies). This information is limited to Marin County’s Highway 101 corridor towns and cities that consistently maintain a monthly inventory of luxury and ultra-luxury homes (e.g., towns without a consistent luxury market and beach homes are not included here). Call Kyle Frazier, CRS, Broker Associate, Frank Howard Allen Realtors of Marin, at 415/350-9440 with any questions about a particular neighborhood or your situation. You can also e-mail Kyle at [email protected].