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Dear Clients, Neighbors, and Friends,
Happy Halloween! I hope all the witches and goblins in your life are well. I am thinking of all the moms and dads out there putting the finishing touches on costumes with glue guns, sewing machines, and last-minute orders via Amazon Prime.
With all the pain and suffering in the world, we are thrilled to share in the joy of our own Kaitlin Lopin Gilbert, and her husband Thomas becoming the proud new parents of William Thomas Gilbert on October 7th.
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On the real estate front, Q3 has seen a notable slowdown in the market with challenging economic indicators, increased days on the market, and price reductions for listings. More buyers are now on the sidelines, with rates hitting 7.79% on October 26 for a 30-year fixed rate mortgage – a 20-year high (per Freddie Mac). "Now" buyers are waiting for the perfect house at the right price, as their purchasing power has been dramatically reduced. Homes that would have sold in the Q1 and Q2 of this year are still on the market. Some sellers are opting to rent, hold, or wait for the spring 2024 market.
According to Chief Market Analyst Patrick Carlisle, “The Q3 median house sale price was down about 8.5% from Q3 2022, but we expect the year-over-year price decline to disappear in coming months. The supply of listings for sale just hit a YTD high – giving buyers more purchasing options – though still below this time last year. Year-over-year, the number of home sales in Q3 was down about 17%, mostly due to the low supply of homes available to buy, though always affected by interest rates. Luxury home sales have dropped from spring peaks, as is a common seasonal trend.” Click here for the full Compass Report.
From the Wall Street Journal.
- It is now 52% more expensive to buy a home than rent one because of climbing mortgage rates.
- Home sales fell in September to the lowest rate in 13 years. It is estimated that total existing home sales in 2023 will be around 4.1 million, the smallest number of sales since 2008.
- Around 80% of outstanding U.S. Mortgages have an interest rate below 5%. High interest rates are keeping homeowners in their homes and many buyers on the sidelines.
In the ultra-luxury market ($10M +), a new record in Seadrift was just set when 134 Seadrift Road sold for $17,500,000 ($4,496 per square foot). Of the ten sales YTD, four were in Belvedere, two in Seadrift, one in Ross, and one in Mill Valley. Two more are currently Pending, with one in Belvedere and one in Tiburon. For the same time period in 2022, there were 15 sales.
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As we are getting close to the end of the year, our team is hard at work prepping a number of listings for spring 2024, which is a good sign for more much needed inventory in Marin County.
We love collaborating and are thrilled to do so with our Ross neighbor, Ashley Morgan of Ashley Morgan Designs. Join us for a Holiday Market on Friday, November 10th, from Noon - 4 pm, featuring exceptional work by women founders offering curated jewelry, fashion, home décor, and more. It will be a great afternoon, and our team will be there. Please join us.
Wishing you all the best,
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Support Women-Owned Businesses
& Shop the Atelier Holiday Market
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You're Invited!
Celebrating Exceptional Work by Women Founders
November 10th, Noon - 4:00 pm
Co-hosted by the Carey Hagglund Condy Team
Historic Ross Garage 23 Ross Common, Ross, CA 94957
Please RSVP to Shiloh@chcteam.com
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Holiday Heroes Donation Opportunity
Wender Weis Foundation For Children will be here for face painting and accepting baseball glove donations for their annual Holiday Heroes event
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Now Available
224 Woodland Road, Kent Woodlands
List Price: $11,500,000
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Off-Market Sale Pending
126 San Carlos Avenue, Sausalito
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Now Available
30 Mesa Road, Bolinas
List Price: $1,900,000
Listed by Steve Marsh DRE 01944755
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Coming Soon
6 Blue Blossom Court, San Rafael
Listed by Steve Marsh DRE 01944755
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2023 CHC Team Property Sales | |
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83 Laurel Grove Avenue, Ross
Sold Off-Market: $9,750,000
Buyer Representation
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333 Bella Vista Avenue, Belvedere
Sold: $6,277,000
Buyer Representation
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21 Rancheria Road, Kent Woodlands
Sold Off-Market: $9,495,000
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1 Orchard Way, Kent Woodlands
Sold Off-Market: $6,000,000
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14 Rancheria Road, Kent Woodlands
Sold Off-Market: $5,200,000
Buyer Representation
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64 Fern Lane, San Anselmo
Sold: $5,125,000
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104 Golden Gate Avenue, Belvedere
Sold: $5,077,000
Co-Listed with Shana-Rohde Lynch of Compass DRE 01079806
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108 Woodland Road, Kent Woodlands
Sold Off-Market: $4,900,000
Multiple Offers
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4 Spring Road, Kent Woodlands
Sold: $4,350,000
Multiple Offers
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41 Wellington Avenue, Ross
Sold: $4,250,000
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76 Ridgecrest Road, Kent Woodlands
Sold Off-Market: $3,875,000
Multiple Offers
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61 Bayview Avenue, Larkspur
Sold: $3,700,000
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8 Felipa Court, Tiburon
Sold: $3,265,000
Buyer Representation
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39 Legend Road, San Anselmo
Sold: $3,200,000
Buyer Representation
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65 Corte Amado, Greenbrae
Sold: $3,100,000
Buyer Representation
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179 Saint Thomas Way, Tiburon
Sold: $2,975,000
Listed by Steve Marsh (DRE 01944755)
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8 Chateau Place, San Rafael
Sold: $2,895,000
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210 Murray Avenue, Kentfield
Sold: $2,600,000
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33 Bay Way, San Rafael
Sold: $2,550,000
Buyer Representation
Steve Marsh (DRE 01944755)
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75 Woodland Road, Fairfax
Sold: $2,500,000
Buyer Representation
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121 Hilldale Drive, San Anselmo
Sold: $1,655,000
Buyer Representation
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125 Lobo Vista, Novato
Sold: $1,425,000
Buyer Representation
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22 Truman Way, Novato
Sold: $1,300,000
Buyer Representation
Steve Marsh (DRE 01944755)
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34 Buckeye Circle, Woodacre
Sold: $895,000
Buyer Representation
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Compass Curated Magazine - Fall/Winter 2023 | |
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They don't care about the doom loop. They're moving to the Bay Area anyway.
SF Gate - October 25, 2023
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America's big tech cities are thriving, not dying
The Washington Post - October 25, 2023
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From doom to boom: AI is slowly
re-energizing San Francisco
The Washington Post - October 23, 2023
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What Happened to San Francisco, Really?
The Washington Post - October 16, 2023
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Marin County Real Estate Report
Compass - October 2023
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Plants for a Fire-Smart Garden
Fires Safe Marin - October 2023
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23 Ross Common, Suite 3 | Ross, CA 94957
415-461-8609 | carey@chcteam.com
chcteam.com | DRE 01323032
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Compass is a real estate broker licensed by the State of California operating under multiple entities. License Numbers 01991628, 1527235, 1527365, 1356742, 1443761, 1997075, 1935359, 1961027, 1842987, 1869607, 1866771, 1527205, 1079009, 1272467. All material is intended for information purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, conditions, sale or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. | | | | |
