Marin County (San Francisco Bay Area) Real Estate April / May 2011 (Pacific Union International Realtors)

Despite formidable world events over the past few months, the roiling volatility of the equity markets (although things seem to have settled of late), and increased gas prices, the first quarter of 2011 experienced positive trends in many San Francisco Bay Area real estate markets. Properties selling below $1 million, which are over 70% of the closings in the six counties served by Pacific Union International, are experiencing modest to very favorable increases in units sold. In many markets we are enjoying units sold up nearly double the closings in the marketplace from Q1 2009. A refreshing trend which we feel is always a precursor, albeit by twelve to eighteen months, to value/price appreciation.

Most importantly we are experiencing a recovery in our clients’ confidence. We believe this is a result of historic low interest rates, stabilized pricing in our real estate markets and a general feeling that “the worst” is behind us and that 2011 may be a better year than we expected in late 2010.

In Marin County we have begun to experience a refreshing rebound in units sold in the high end (over $1 million), this trend extends to northern Napa County, the Town of Sonoma, and San Francisco as well. This activity at the high-end will begin to motivate the “move-up” buyers throughout the San Francisco Bay Area. As a result, we expect more favorable results in our local market segment throughout 2011.

The table below illustrates the number of homes available and under contract in Marin under $1 million. The percentages of homes in escrow are high. In fact, the right homes, in the right locations with market based pricing are experiencing multiple offers. This is an indicator of pent up demand and client confidence. Pragmatic property sellers are finding that strategically wise price reductions are garnering multiple offers while homes with a 10% – 12% “pricing cushion” for which to negotiate are finding no one to negotiate with.

5-6-11 Marin Market

Opportunities exist in all our neighborhoods – please feel free to call me to explore your local market conditions and real estate opportunities you may be considering. If you desire a list of Marin County’s best deals or more specific analysis of your neighborhood, please give me a call at (415) 350-9440.

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