Tiburon / Belvedere (August 2010 Home Sales Update) — Pacific Union International

In line with annual trends, Tiburon and Belvedere home sales slipped  in July 2010 — we had just nine sales compared with 13 in July. Building on a trend noted in this report over the past few months, median sale prices continue to rise while asking prices continue to drop. Both of these very important market indicators point to an improving market and more realistic expectations by sellers — the median price of homes for sale is down 7% and the median price of homes sold is up 4%.

Tiburon August 2010 Medians

As asking prices dip and sales prices rise, we are also seeing the absorption rate of our listings (e.g., the amount of time it would take to sell all current inventory) fall — this important statistic shows that the supply of new homes is down by 55% compared with this August 2009. This is a major drop.

Tiburon August 2010 Inventory

Below are the percentages of homes in escrow in each of the major price bands:

  • 20% of homes priced under $2 million;
  • 17% of homes between $2 million and $3 million;
  • 6% of homes between $3 million and $5 million;
  • 0% of homes over $5 million.

Tiburon and Belvedere homes that sold in July 2010 exhibited the following characteristics:

  • Number of Sales: 9
  • Average Days on Market: 87
  • Price: $2.725 million
  • Square Feet: 3,535
  • Price per Square Foot: $779

If you have any questions or would like a custom market analysis of your home’s current likely sales price, please call me at (415) 350-9440. My name is Kyle Frazier. I am a 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.