Marin Luxury Home Sales Report (May 2007 Inventory and Sales Update)

The past month has seen a significant rise in the numbers of homes entering the market, especially in the $2 million to $4 million range (the number of active listings is up by 26 for a total of 96 homes). That may seem like a lot. But, 23 homes in that price range sold in Marin last month. Mill Valley boasts the largest number of homes sold last month in this market segment — 6 homes sold (the average days on market was 45, the average sales price was $2.76 million,and the average price per square foot was $797). Tiburon was next — 4 sales (the average days on market was 60, sales price was 2.43 million, and the average price per square foot was $747). Tiburon and Mill Valley also have the most homes currently in escrow in this price range. Followed by Ross (with 5 home) and Kentfield (with 3 homes).

In the $4 million and up range, there are currently 44 active homes on the market in Marin, up by 13 from last month. Tiburon leads the pack with 18 homes, followed by Belvedere (with 9) and Kentfield (with 4). Sales is this price range are led by Kentfield, which saw 5 homes sell last month with an average days on market of 27 days, selling price of $5.99 million, and a price per square foot an astonishing $1,059 (note that Belvedere’s average price per square foot for homes in this price range was an even more astonishing $1,524 per square foot).

CLick below to see the chart of active and pending listings in the Marin luxury home market.

Below is a graph identifying the numbers of active listings and homes in contract in Marin’s luxury market segment. Note that all homes in contract are included in the category “Pending” even though some are technically “Contingent” properties.