Marin County real estate market, this Holiday Season.
The market here in Marin County is still climbing, for those homes which are priced right and turn key. When I look at the trend graphs for the past two months single family homes seem to be selling for 100% of list and condos are selling for 103% to 106% of list price, but when I look a little deeper and being in the know as an active agent some of the trends reported can be misleading.
I know of three homes, in different cities, which recently sold and all sold for well over asking, receiving multiple offer and more telling selling for well over what the most recent bench mark sale sold for. These 3 sales contrarily offer up a radically different view than what the graph suggest. 759 Tamarack Drive in San Rafael was listed at $1,200,000 and sold for $1,400,000 receiving 4 offers, 296 Green Street in Mill Valley was listed at $1,449,000 and sold for $2,000,000 receiving 16 offers and 480 Los Cerros Drive in Greenbrae was listed at $1,785,000 and sold for $2,035,000 receiving 7 offers. The first two properties were not in the greatest of shape, but one offered an amazing view and the other an amazing view and a over-sized lot, with the third property being tastefully done, but smaller than other homes having recently sold in the area. The takeaway, this market is still hot for single family homes if they have something going for them which pulls on the heart strings of buyers. Sellers pre-market preparation makes sense, for gaining top dollar. Buyers pre-offer inspections allowing for non contingent offers with tight financing terms makes sense. (My opinion based on data and experience)
The Marin County Holiday Season, for real estate, is not exhibiting the lethargic signs of the past two years. Limited inventory and Marin being reasonably priced compared to the Peninsula and San Francisco are continuing to drive up prices. Our open houses are frequented by many buyers from San Francisco and San Mateo looking for lower prices and secondarily good schools and warmer weather . We are also seeing many younger couples with young kids coming from the East Bay predominantly for the schools.
Condos are definitely seeing a great deal of activity, being entry level for many, but also drawing many retirees who want to be near their kids and grand kids while avoiding higher prices associated with single family homes, yard up keep and maintenance responsibilities.