Marin Luxury Report (January 2011)

Marin Luxury Report (November 2010)

Pacific Union Int’l – Christie’s Great Estates | Marin County, CA Luxury Home Sales (November 2010) — With 13 trades again in October 2010 (same as the prior month), the luxury property real estate market in Marin County (properties and estates over $2 million) continues to perform in the face of uncertainty. As it is becoming clearer that the overall economic and housing environments are improving, real buyers are making legitimate offers. Pricing in the marketplace certainly suggests “value.” In line with normal seasonal adjustments, the inventory of luxury homes for sale is down (we currently have 149 luxury homes on the market).

Cities recording luxury home sales between $2 million and $4 million in October 2010 included: Tiburon (4), Belvedere (2), Corte Madera (1), Sausalito (1), and San Anselmo (1). These homes averaged 141 days on market. Their average sales price was $2.459 million (roughly $557 per square foot), with an average of 2,459 square feet.

[Click here for the rest of the report courtesy of www.ImagineMarin.com]

Mill Valley Real Estate Report (Pacific Union January 2011 Home Sales Update)

Mill Valley Real Estate Report (Pacific Union November 2010 Home Sales Update)

October 2010 home sales in Mill Valley totaled 20. These trades sold for an average price of $997, 159 (this figure is much lower than normal as last month’s sales were nearly all under $1.5 million, which is somewhat unusual — September sales averaged $1,307,026) and the homes averaged 2,065 sq. ft. (or about $501 per sq. ft.).  It seems September 2010′s sales reflected extreme buyer caution as 19 of the 20 sales were under $1.5 million — on any given month we would expect about 1/2 the sales to be over $1.5 million. Certainly the 13 sales under $1 million helped to clear out some lingering inventory in this entry level price band.  The number of listings actively market on the MLS is on the low side (103) as many sellers have decided to take their homes off the market as Winter sets in.

The percentage of homes in escrow:

• Under $800,ooo — 46%
• $800,000 to $1 million — 21%
• $1 million to $1.5 million — 33%
• $1.5 million to $2 million — 27%
• Above $2 million — 0%

Listings in Strawberry and Sycamore Park generated the most calls this month.

If you would like more information about neighborhoods, sales, schools, or local Mill Valley services references, just give me a call at (415) 350-9440 or e-mail me at Kyle@MillValley101.com. I currently have several clients who want to sell, but are waiting in the wings. Please contact me to determine if any of these opportunities fit your needs. I am also a member of the Marin Platinum Group with access to dozens of homes not “officially” on the market but available for sale.

If you would like my Mill Valley Hot List e-mail me at Kyle@MillValley101.com.It is always my pleasure to be of service. Christie’s Great Estates | Pacific Union International.

Marin Real Estate (October 2010)

Overall in Marin County, the bottom for pricing seems to have formed. The average price of a Marin County single family home has once again surpassed $1 million. In addition, for the seventh consecutive quarter (since Q1 ‘09) both the average and median price of a single family home has experienced modest appreciation.

Possibly the most interesting phenomenon is this modest price appreciation (2% per annum) occurring in a market of significantly lower units closed.  The number of homes sold in third quarter ‘10 under $1 million fell -16% from the same period a year ago. The number of homes sold over $1 million fell -3% from the same period last year after a -36% drop from Q3 ‘08 to Q3 ‘09. What this tells us is that while the number of sales has slowed dramatically in the past two years, prices have now firmed and we have caught a glimpse of the bottom.

Buyers continue to be cautious and generally only take action on well maintained, well priced homes. Sellers’ pricing of their homes remains critical as buyers feel most comfortable when the list price is within 3% – 5% of fair market value.

Marin Luxury Report (October 2010)

Marin Luxury Report (September 2010)

With 8 sales, the luxury property market in Marin County again performed admirably in the face of uncertainty. As it is becoming clearer that the overall economic and housing environments are improving, buyers are shaking off media ennui and making offers. Pricing in the marketplace certainly suggests “value” and inventory remains relatively low — we currently have just 132 homes actively on the market.

Cities recording luxury home sales between $2 million and $4 million in August 2010 included: Tiburon (3), Mill Valley (1), Greenbae (1), Ross (1), Corte Madera (1), and Sausalito (1). These homes averaged 117 days on market. Their average sales price was $2.518 million (roughly $732 per square foot), with an average of 2,518 square feet.

[Click here for the rest of the report, courtesy of www.ImagineMarin.com]

Marin Luxury Report (August 2010)

With 13 trades in September 2010, the luxury property market in Marin County (properties and estates over $2 million) again performed admirably in the face of uncertainty. As it is becoming clearer that the overall economic and housing environments are improving, real buyers are making legitimate offers. Pricing in the marketplace certainly suggests “value” and inventory is steadily increasing — there are now 163 homes actively on the market.

Cities recording luxury home sales between $2 million and $4 million in September 2010 included: Tiburon (4), Mill Valley (1), Belvedere (1), and Kentifield (2). In addition, Nicasio and Stinson Beach also recorded one sale appiece. These homes averaged 154 days on market. Their average sales price was $2.748 million (roughly $784 per square foot), with an average of 2,748 square feet.

[Click here for the rest of the report, courtesy of www.ImagineMarin.com]

Christie’s Great Estates Mill Valley Real Estate Report (October 2010 Home Sales Update)

The number of September 2010 home sales in Mill Valley totaled 19 and gave rise to the following averages: an average price of $1,307,026 and approximately 2,475 sq. ft. (or about $494 per sq. ft.). Note that the price per square foot number is prone to wild swings from month to month. For example, a few months ago, the price per square foot was $640 in Mill Valley. This is because the composition of sales varies from month to month — at best, price per square foot is a blunt instrument.  The number of listings actively market on the MLS is on the low side (137) as many sellers have decided to take their homes off the market as Fall sets in.

The percentage of homes in escrow:

• Under $800,ooo — 31%
• $800,000 to $1 million — 21%
• $1 million to $1.5 million — 23%
• $1.5 million to $2 million — 30%
• Above $2 million — 12%

Listings in Homestead Valley and Strawberry generated the most calls this month. If you would like more information about neighborhoods, sales, schools, or local Mill Valley services references, just give me a call at (415) 350-9440 or e-mail me at Kyle@MillValley101.com. I currently have several clients who want to sell, but are waiting in the wings. Please contact me to determine if any of these opportunities fit your needs. I am also a member of the Marin Platinum Group with access to dozens of homes not “officially” on the market but available for sale.

If you would like my Mill Valley Hot List e-mail me at Kyle@MillValley101.com.It is always my pleasure to be of service. Christie’s Great Estates | Pacific Union International.

Pacific Union Real Estate Mill Valley CA. Real Estate Report (July 2010 Home Sales Update)

The number of homes sold in the Mill Valley, California real estate market rose once again and Mill Valley’s touchstone price band ($1 million to $2 million) posted another solid month. For the most part,  buyers now speak confidently about our market as it is truly a unique time in history to buy discounted homes with virtually free money.

Nonetheless, recent national media coverage has focussed on the slowdown in the number of sales nationwide, giving some buyers pause. But, Mill Valley is not Detroit or Las Vegas. The first time home buyer tax credit never impacted Mill Valley in a significant way. And it is because of the cessation of that credit that the number of homes sold went down on a month to month basis — it is no surprise. But again, Mill Valley is not Detroit or Las Vegas.

In fact, what the media failed to note was that sales of $1 million homes was UP 6.7% nationwide as affluent buyers took advantage of the great prices and interest rates available to them.

Take a look at the graph below reflecting sales activity in Mill Valley over $1.5 million in July 2010. Not only is the number of homes for sale down by 9%, but the median sales price for homes sold at or above $1.5 million is up 45%. They say things are “different” here — thank goodness they are right.

Overall, the number of sales in Mill Valley last month (July 2010) was UP 25% (from 24 sales in June to 30 in July 2010). Sales of homes over $1.5 million held steady with 8 (note that we have seen 14 sales over $2 million in the past 2 months — there were just 21 such sales in all of 2009). Moreover, we are seeing an improved marketplace in San Francisco which is the bellweather for Mill Valley and Marin.

Mill Valley’s 30 sales in July 2010 gave rise to the following averages: an average price of $1,345,776; and about 2,428 sq. ft. (or about $569 per sq. ft.). Note that the price per square foot number is prone to wild swings from month to month. For example, a few months ago, the price per square foot was $640 in Mill Valley. This is because the composition of sales varies from month to month — at best, price per square foot is a blunt instrument. Homes in Tam Valley, Scott Valley, Sycamore Park, and Country Club generated the most calls this month.

If you would like more information about neighborhoods, sales, schools, or local Mill Valley services references, just give me a call at (415) 350-9440 or e-mail me at Kyle@MillValley101.com.

p.s. I currently have several clients who want to sell, but are waiting in the wings. Please contact me to determine if any of these opportunities fit your needs. I am also a member of the Marin Platinum Group with access to dozens of homes not “officially” on the market but available for sale. If you would like my Mill Valley Hot List, call or e-mail me: (415) 350-9440 | Kyle@MillValley101.com.It is always my pleasure to be of service. Christie’s Great Estates | Pacific Union International.

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