|
|
|
The frothy residential real estate market continues to surge in Marin County. According to market research, year over year dollar volume of sales in Marin County is up 15 percent. Year over year appreciation in Marin County is up 11 percent. Sellers of homes that are fully renovated with current, trending design choices that appeal to today’s buyers, are reaping the rewards of their pre-listing efforts. Many of my very recent listings have broken price per square foot records for specific locations. Check this out!
1. 23 Monte Vista in Larkspur: Outstanding four year old ground up new construction in the heart of Larkspur. This property just closed at $1478 a foot, which sets a new record for an above $4m sale for Larkspur. www.23MonteVista.com
2. 96 Avenue Del Norte in San Anselmo: This is the second highest recorded sale’s price for a home in San Anselmo over the past ten years. The iconic “Heather Hill” is on 4 acres in Winship Park with 7 bedrooms and 7 full and 2 half bathrooms. It just closed escrow for $5,447,500.
3. 421 Crown Road in Kent Woodlands: Stunning and completely renovated contemporary farmhouse style residence just sold for $1718 per square foot. The highest recorded sale for a home up in the hills of the Woodlands prior to this sale was $1477 per square foot, a 16 percent increase! Check out the fresh design finishes at www.421Crown.com.
4. 10 Edgewater Road in Belvedere: Three and a half year old ground up new build done in a contemporary beach house design. This house is pending at $2010 per square foot! Prior to this, the highest sale on the lagoon on a price per square foot basis was $1979 per square foot. You’ll get some great design tips if you check it out at www.10Edgewater.com.
5. 55 Winship in Ross: Outstanding Wendy Posard design on this recently restored cottage style architecture. The residence is pending at $1591 per square foot. Prior to this sale, the highest recorded price per square foot in Winship Park was $1352 per square foot. Check out Wendy Posard and designer Miranda Abram’s beautiful collaboration at www.55Winship.com.
Not every home is breaking record prices, but the ones that combine the finishes, scale and furnishings of the above three residences can and will break records if the unparalleled strength of Marin’s market continues.
The possibility of continued home schooling is also creating a fair amount of buyer discernment over specific needs for a floor plan that works for the possible duality of working and learning from home. Subsequent to the release of my first book, “Real Estate Rescue”, I have been doing weekly radio, tv and podcast interviews about what is driving demand in residential housing right now and how to monetize this most important asset. Here is a recap of the broadcasts which you can check out on my YouTube channel at https://www.youtube.com/channel/UCQ0DFE1joTGVyGOtN9hZTaA.
1. Buyers are focused on a private, separate and fully contained home office, with appropriate audio/visual equipment for zoom calls or video conferencing.
2. Secondary family or playrooms that are separate from the great room. Growing children want some autonomy, space to play, and separate space for zoom learning.
3. Water features, especially pools, are creating demand for homes like we have never seen in Marin. Even in communities that are a bit cooler, demand for pools has really increased.
4. Homes in the hills of Marin with immediate access to both biking or hiking trails are selling for more money than they ever have before. Whereas homes far up in the hills have been more challenging to sell, if the home is renovated and very close to trails, it will sell for a higher price today than it would have even six months ago.
5. Per above, renovated and updated homes that are FULLY renovated, with current, bespoke finishes, are outperforming the market. Current buyers do not have much of an appetite for protracted renovation approvals through building and planning departments for a myriad of reasons. The message here is this: Invest the money into your home to make sure it sells for the very highest price when you decide to sell. How to do this the right way is the subject of my recent book, “Real Estate Rescue”. www.RealEstateRescue.me.
ORDER YOUR COPY HERE:
Amazon
Book Passage
|
|
Recent News
|
|
 |
|
Tracy is ranked 20th in the country for overall
sales in 2020. Read the full article here:
www.realtrends.com
|
|
|
 |
|
Tracy is ranked 3rd in The Bay Area for overall
sales in 2020. Read the full article here:
www.bizjournals.com
|
|
|
Current Listings
|
|
 |
37 Upper Road, Ross
$15,995,000
6 Bed | 4 Full & 3 Half Bath | +- 9,560 SqFt
|
|
|
 |
135 Belvedere Avenue, Belvedere
$9,995,000
6 Beds | 7.5 Baths | +- 11,100 SqFt
|
|
|
 |
147 Beach Road, Belvedere
$7,350,000
5 Beds | 4.5 Baths | +- 4,000 SqFt
|
|
|
 |
The Ranch, Larkspur
$5,995,000
4 Lots
|
|
|
 |
21 Fernhill Avenue, Ross
$5,775,000
4 Beds | 3.5 Baths | +- 3,000 SqFt
|
|
|
 |
216 Evergreen Drive, Kentfield
$4,995,000
6 Beds | 6.5 Baths | +- 5,530 SqFt
|
|
|
 |
17 Hotaling Court, Kentfield
$6,995,000
5 Beds | 7 Baths | +- 5,325 SqFt |
|
|
 |
65 Summit Road, San Anselmo
$3,995,000
4 Beds | 3.5 Baths | +- 5,520 SqFt |
|
|
 |
55 Sir Francis Drake Boulevard, Ross
$2,395,000
4 Beds | 3 Baths | +- 2,426 SqFt
|
|
|
 |
151 Fernwood Drive, San Rafael
$1,995,000
4 Beds | 2.5 Bath | +- 2,900 SqFt
|
|
|
Just Sold
|
|
 |
421 Crown Road, Kentfield
$5,995,000
4 Beds | 3.5 Baths | +- 3,500 SqFt |
|
|
 |
45 Evergreen Drive, Kentfield
$5,995,000
5 Beds | 4 Baths | +- 5,374 SqFt
|
|
|
 |
96 Avenue Del Norte, San Anselmo
$5,995,000
6 Beds | 5 Full/2 Half Baths | +- 7,340 SqFt
|
|
|
 |
10 Edgewater Road, Belvedere
$5,800,000
4 Beds | 3.5 Baths | +- 2,886 SqFt |
|
|
 |
320 Belvedere Avenue, Belvedere
$5,495,000
4 Beds | 3.5 Baths | +- 4,185 SqFt
|
|
|
 |
23 Monte Vista Avenue, Larkspur
$4,995,000
4 Beds | 4.5 Baths | +- 3,265 SqFt
|
|
|
 |
55 Winship Avenue, Ross
$3,695,000
4 Beds | 2 Baths | +- 2,545 SqFt
|
|
|
 |
296 Margarita Drive, San Rafael
$3,595,000
5 Beds | 4.5 Baths | +- 5,155 SqFt
|
|
|
 |
199 Madrone Avenue, Larkspur
$3,495,000
4 Beds | 4.5 Baths | +- 3,225 SqFt
|
|
|
 |
21 Oak Place, Belvedere, Belvedere
$3,495,000
4 Beds | 4 Bath | +- 2,944 SqFt
|
|
|
 |
61 Wolf Canyon Road, Kentfield
$3,195,000
5 Beds | 2 Full/2 Half Bath | +- 4,325 SqFt
|
|
|
 |
84 Glenwood Avenue, Ross
$2,995,000
4 Beds | 4.5 Baths | +- 2,229 SqFt
|
|
|
 |
534 Comstock Drive, Tiburon
$2,495,000
3 Beds | 2.5 Baths | +- 2,250 SqFt
|
|
|
 |
15 Via Hermosa, Greenbrae
$2,395,000
4 Beds | 3 Baths | +- 2,355 SqFt
|
|
|
 |
14 Cedar Avenue, Larkspur
$1,995,000
3 Beds | 2.5 Baths | +- 2,168 SqFt
|
|
|
 |
2 Berry Lane, Ross
$1,795,000
2 Beds | 3 Bath | +- 3,000 SqFt
|
|
|
Coming Soon
|
|
86 Lagoon Road, Belvedere
2472 Mar East Street, Tiburon
11 William Avenue, Larkspur
|
|
30 Crescent Road, Corte Madera
2 Madera Avenue, Ross
91 Upper Toyon Drive, Kentfield
|
|
Data Watch
|
|
Marin County
Market Statistics for Single Family Homes in Marin County January – October 2019 vs 2020
1. Total dollar volume of sales year over year
- a. 2019: $2,715,418,232
- b. 2020: $3,111,973,467
- c. Δ +15%
2. Appreciation year over year
- a. 2019: $1,300,000 (median SFR price)
- b. 2020: $1,439,000 (median SFR price)
- c. Δ +11%
National
Existing Home Sales Increased 4.3% in October
Brian S. Wesbury, Chief Economist
Robert Stein, Deputy Chief Economist
Date: 11/19/2020
Existing home sales increased 4.3% in October to a 6.850 million annual rate, easily beating the consensus expected 6.470 million. Sales are up 26.6% versus a year ago.
Sales in October rose in all major regions. The gain was due to both single-family homes and condos/coops.
The median price of an existing home rose to $313,000 in October (not seasonally adjusted) and is up 15.5% versus a year ago. Average prices are up 12.3% versus last year.
Implications: Existing home sales continued impress in October, beating even the most optimistic forecast by any economics group and hitting the fastest pace since 2005. From February (pre-pandemic) to the bottom in May, sales collapsed 32.1%, as lockdown measures and widespread economic uncertainty took hold across the country. Since then sales have risen five months in a row, blown past the previous February high, and are now up 18.9% from pre-pandemic levels. One major contributor to the recent recovery has been the Fed's liquidity policies, which have helped push 30-year fixed mortgage rates to record lows, boosting affordability. It also looks like the pandemic and the resulting public health measures have given potential buyers a new sense of urgency, with demand for existing homes so strong in October that 72% of the homes sold were on the market for less than a month. That said, sales face a continued headwind from the low inventory of existing homes. Today's report showed that inventories were lower than any other October on record and down 19.8% versus a year ago (the best measure for inventories given the seasonality of the data). This is reflected in the months' supply (how long it would take to sell today's inventory at the current sales pace) of existing homes for sale, which is now 2.5, the lowest reading on record back to 1999. While lower priced homes are in short supply, inventories have increased in the past year at the upper end of the spectrum. Meanwhile, sales of properties worth $1 million and over are up 102.2% in the past year, as wealthy urban dwellers purchase properties elsewhere to escape pandemic-related restrictions and social unrest. The shift in the mix of homes sold toward more expensive properties has put considerable upward pressure on median prices, which are now up 15.5% in the past year versus a year-over-year gain of 6.7% in January. Look for continued robust sales in the months ahead, although sales will eventually settle down due to a lack of supply. In other news this morning on the employment front, initial jobless claims rose 31,000 last week to 742,000. Meanwhile, continuing claims for regular benefits fell 429,000 to 6.372 million. Finally, on the manufacturing front, the Philly Fed index fell to a still very high 26.3 in October from 32.3 in September, signaling ongoing improvement in the factory sector but at a less breakneck pace.
This report was prepared by First Trust Advisors L. P., and reflects the current opinion of the authors. It is based upon sources and data believed to be accurate and reliable. Opinions and forward looking statements expressed are subject to change without notice. This information does not constitute a solicitation or an offer to buy or sell any security.
|
 |
Tracy gives a percentage of every closing to Marin’s Center For Domestic Peace, which has provided safe housing for women and children in Marin County for the past 41 years. To learn more about this incredible organization, please visit: CenterForDomesticPeace.org |
|
|
|
