Marin Luxury Properties Report Pacific Union – Christie’s International Real Estate | Marin County, CA Luxury Home Sales (January 2012)

Pacific Union Int’l – Christie’s Great Estates | Marin County, CA Luxury Home Sales (January 2012) — Luxury home sales have maintained a solid pace over the past quarter (in December 2011, Marin County saw 9 sales over $2 million). It remains very clear that buyers will act quickly, even in the luxury home realm when they feel a particular home reflects clear value and/or possesses unique and desirable characteristics. Extraordinary opportunities are literally around every corner for buyers who can stomach uncertainty — although, it appears, the level of uncertainty has diminished fairly significantly over the past 6 months. Indeed, pricing in the marketplace (especially for homes that started off overpriced) remains on the soft side and “value” is evident in virtually every locale and every price segment of the luxury home market in Marin.

In line with normal seasonal adjustments (we are approaching the end of the slow season), the inventory of luxury homes remains constricted with just 81 properties actively listed over $2 million in Marin. This inventory level is lower than years past as prices have declined substantially in many markets (e.g., such that homes that priced at $2.25 million in 2006 are now priced below $2 million). Moreover, to the extent sellers do not have a compelling reason to sell now, most are waiting for prices to recover rather than trade in today’s market.

Marin County cities recording luxury home sales between $2 million and $4 million in December 2011 included: Tiburon (3), Belvedere (1); Mill Valley 21); and Sausalito (1). These homes averaged 209 days on market. Their average sales price was $2.742 million (roughly $846 per square foot), with an average of 3,683 square feet. Marin County’s ultra-luxury market (homes priced in the $4 million and up range) experienced three trades in December 2011 — Stinson Beach, Mill Valley, and Belvedere each had one sale.

Note: As a member of the Top Agent Network (top 10% in Marin) and the Marin Platinum Group (Top 100 agents), I have access to a database with several dozen luxury homes not currently on the MLS, but discretely offered for sale off-market. Please contact me regarding your specific desires. In addition, if you are looking for an agent to aggressively and intelligently market your home, please call me. I am a Certified Luxury Home Marketing Specialist.

By: Kyle Frazier, J.D. & Broker, Certified Luxury Home Marketing Marketing Specialist (CLHMS), Certified Residential Specialist (CRS), Realtor with Pacific Union | Christie’s International Real Estate. Call Kyle Frazier at            415/350-9440       for more luxury home market information in Marin County, California (the San Francisco Bay Area’s “North Bay”).