Marin Luxury Properties Report Pacific Union International – Christie’s Great Estates | Marin County, CA Luxury Home Sales (September 2011)

Pacific Union Int’l – Christie’s Great Estates | Marin County, CA Luxury Home Sales (September 2011) — Luxury home sales continued at a good clip through August, which is usually a very slow month for luxury home sales in Marin County) — overall, we had 14 trades (there were just 7 in February 2011). While domestic and international economic unrest continued grabbing headlines (with the politically charged debt ceiling crisis causing the greatest amount of media hysteria), it remained clear that buyers will act quickly in the luxury home market when they feel a particular home reflects clear value and/or possess unique sales characteristics. Extraordinary opportunities are literally around every corner for buyers who can stomach uncertainty. 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 on the low side with 151 properties are in the MLS over $2 million in Marin (this is somewhat lower than years past as prices have declined substantially in many markets (such that home that used to be priced above $2 million are now priced below $2 million).

Marin County cities recording luxury home sales between $2 million and $4 million in August 2011 included: Tiburon (3), Belvedere (4); Mill Valley (2); Larkspur (2); Sausalito (2); Ross (1). These homes averaged 112 days on market. Their average sales price was $2.51 million (roughly $756 per square foot), with an average of 3,461 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 San Rafael — The Rosegarden Estate on 1.4 acres, pool, tennis court, 7,980 square feet of living space, 5 Beds and 8 baths) and the other in Tiburon — immaculate view estate).

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”).