Marin Luxury Properties Report Pacific Union International – Christie’s Great Estates | Marin County, CA Luxury Home Sales (August 2011)
Pacific Union Int’l – Christie’s Great Estates | Marin County, CA Luxury Home Sales (August 2011) — Luxury home sales continued through July (our swoon season) — we had 11 trades (there were 9 in January and just 7 in February 2011). While international events of the past 10 months and economic events this past month have made for a turbulent year in the luxury sector, it appears that buyers are continuing to snap up luxury homes that reflect clear value and/or possess unique sales characteristics. Certainly, there are extraordinary opportunities available right now for buyers. Pricing in the marketplace (especially for homes that started off overpriced) is soft and “value” is evident in virtually every corner and every price segment of the luxury market. In line with normal seasonal adjustments, the inventory of luxury homes remains somewhat low — 138 properties are in the MLS over $2 million in Marin (this is somewhat lower than years past as many home value have dipped below $2 million).
Marin County cities recording luxury home sales between $2 million and $4 million in March 2011 included: Tiburon (2), Belvedere (2); Mill Valley (2); Larkspur (1); San Anselmo (1); and San Rafael (1). These homes averaged 119 days on market. Their average sales price was $2.798 million (roughly $763 per square foot), with an average of 3,903 square feet. Marin County’s ultra-luxury market (homes priced in the $4 million and up range) accounted for two sales last month (one in Mill Valley and the other in Belvedere) and there are currently four more of these homes in escrow.
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.
By: Kyle Frazier, Certified Luxury Home Marketing Marketing Specialist (CLHMS), Certified Residential Specialist (CRS), Broker Associate, Realtor | Christie’s Great Estates — Christie’s Great Estates. 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”).