Tiburon & Belvedere CA Real Estate Market Report (February 2010 Home Sales Update)
After a strong run of 6 months with $5 million and up sales, Tiburon and Belvedere had none in January 2010. There are currently 65 listings in the 94920 zip code, which covers Tiburon and Belvedere, CA. It was quite a slow month, with just 3 sales. While the sales totals remain similar to that of late 2007 (well before the financial crisis of September 2008), inventory is up 43%. The slow market reminds some of 2009’s beginning. While January tends to be slow, we will have to wait and see how the increased inventory and lack of "real buyers" (e.g., those who actually buy homes) impacts the market in coming months. My suspician is that this Spring will see a lot of good inventory hit the market as sellers who have held off trying to sell over the past 2 years will take thier shot this year. Now, more than ever, careful consideration must be given to pricing, staging, and marketing to maximize the likelihood of a positive result. Below is a graph comparing median prices over the past year.
For homes that sold in January 2010, the average price per square foot was $611 — a number drifting down below August’s $674 nadir. Below are the percentages of homes in escrow in each of the major price bands:
- 23% of homes priced under $2 million (up 21% from last month);
- 19% of homes between $2 million and $3 million (up 1% from last month);
- 16% of homes between $3 million and $5 million (down 4% from last month);
- 6% of homes over $5 million (same as last month).
Tiburon and Belvedere homes that sold in December 2009 exhibited the following characteristics:
- Number of Sales: 3
- Average Days on Market: 232
- Price: $2,593,333
- Square Feet: 4,198
- Price per Square Foot: $611
If you have any other 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 | Morgan Lane Marin Realtors. It is always my pleasure to be of service.