Tiburon CA & Belvedere CA Real Estate Market Report (March 2009 Home Sales Update)

After a lengthy period of overcast skies and a good deal of rain, the sun has returned to our happy peninsula, just in time for daylight savings. Never-mind that just like January 2009, February 2009 gave rise to just 2 home sales in Belvedere and Tiburon combined; sunshine, recently improving numbers in the stock market (considered by some a leading indicator), and pent-up buyer demand just might be the recipe for increased sales as Spring sets in. Certainly, some nice inventory has found its way to market over the past few weeks, including 9 homes over the past week (among these are a couple of Belvedere Lagoon properties).

Real Estate Market Chart by Altos Research www.altosresearch.com
It will be interesting to see how the year unfolds because many of the homes that were taken off the market during November and December 2008 will likely be re-listed with adjusted prices (as noted last month, 35 homes were withdrawn or expired in the final 2 months of 2008). Indeed, in light of the startling numbers relating to Days on Market and final sales price, sellers are well advised to price their homes aggressively (if you would like a chart depicting list price to sales price ratios based on the number of days on the market so far this year, please contact me — again, the numbers are startling). 
Only 2 homes are priced under $1 million in Tiburon and/or Belvedere–those kinds of deals don’t last very long. Tiburon has well over a dozen homes available under $2 million. Below is a chart with up to date figures relating to the number of homes on the market in Tiburon and Belvedere, along with the number of homes currently in escrow. The market is pretty flat.  
Price Range Total Homes In Escrow
up to $2 million 28 21%
$2 million to $3 million 27 4%
$3 million to $5 million 19 21%
$5 million to $10 million 16 13%
$10 million and up 7 14%
As noted above, there were just 2 sales last month (one of which involved my company, Morgan Lane Marin). One was an approximately ,1270 sq. ft. home in Tiburon that traded for $770,000. The other was a view home in Tiburon that closed for $2.1 million (a 5 bedroom, 4.5 bath home, with about 2,700 sq. ft.). Stay tuned for next month’s installment as it will intriguing to see how the coming month plays out. 
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. It is always my pleasure to be of service. 
p.s. I know of several properties that are not being formally marketed on the MLS, so if you are looking to buy please call me to see if any of these may meet your needs.