Sausalito real estate has had a tough year -average prices are down -34%. The only bright spot is the pace of condo sales, albeit at bargain levels.
Year 2000 Census: The Census pegged the population of Sausalito at 7,330 with 4,533 total housing units-55% of which are condos-with 1.6 people per house, and a mean income of $124,000. Mean income data can tell us a lot about home prices. Are the implied average home prices in line with both Fair Value estimates, current average prices or historical prices? For instance:
-
▶ Estimated average 2009 household income for Sausalito is $167,000
-
▶ Sausalito residents can support average prices around $1.2m
-
▶ Fair value estimate for average Sausalito SFR home prices is $1.5
-
▶ '04-'09 historical prices for average Sausalito SFY is $1.55m
-
▶ Current prices are hovering -42% below, at around $821.5k
The lack of high-end SFR sales, combined with a plethora of discounted condo sales is skewing average prices very low. The pool of home buyers flooding into the lower end of Mill Valley CA Real Estate, Homes in Tiburon CA and NOT Sausalito (nor central Marin) implies home buyers are looking for decent public schools within close proximity to San Francisco.
2009 YEar to date Sausalito SFR Home Sales above $850:
| Address | Sale Price | sq ft | $/sqft | Days on Mkt |
| 139 Lincoln Drive | $850,000 | 2003 | 424 | 149 |
| 121 Sacramento Avenue | $885,000 | 1734 | 510 | 273 |
| 93 Girard Avenue | $888,000 | 1031 | 861 | 29 |
| 51 Lincoln Drive | $922,000 | 2171 | 425 | 104 |
| 216 4th Street | $975,000 | 2029 | 481 | 10 |
| 29 Glen Court | $1,000,000 | 1874 | 534 | 146 |
| 201 Glen Drive | $1,075,000 | 2146 | 501 | 23 |
| 54 Edwards Avenue | $1,100,000 | 1640 | 671 | 228 |
| 27 Vista Clara Rd | $1,300,000 | 1917 | 678 | 16 |
| 206 West Street | $1,525,000 | 2012 | 758 | 52 |
| 675 Sausalito Blvd | $1,550,000 | 3100 | 500 | 249 |
| 75 Cloud VieWest Trail | $2,100,000 | 5000 | 420 | 302 |
| 8 Channing Way | $2,650,000 | 3300 | 803 | 86 |
| Averages | $1,293,846 | 2304 | 582 | 128 |
Bear in mind that the averagews above (and below) are only for these sales-- they do not represent average SFR home prices in Sausalito as I didn't include any sales below $850k that weren't condo sales .
| Addresses | Sale Price | sq ft | $/sqft | Days on Mkt |
| 109 Headlands Court | $520,000 | 1225 | 424 | 584 |
| 202 South Street #5 | $549,000 | 884 | 621 | 67 |
| 332 Donahue Street | $550,000 | 1667 | 330 | 70 |
| 258 Donahue Street | $565,000 | 1667 | 339 | 68 |
| 14 West Harbor Drive | $609,000 | 1718 | 354 | 183 |
| 4 West Harbor Drive | $616,000 | 1718 | 359 | 109 |
| 100 South Street #112 | $660,000 | 810 | 815 | 27 |
| 100 South Street #107 | $675,000 | 956 | 706 | 86 |
| 14 Kendell Court | $705,000 | 1986 | 355 | 82 |
| 103 Lincoln Drive | $710,000 | 1644 | 432 | 161 |
| 67 Lincoln Drive | $725,000 | 1812 | 400 | 154 |
| 200 Eden Rock Drive | $900,000 | 2302 | 391 | 37 |
| 100 South Street #214 | $1,037,500 | 1339 | 775 | 58 |
| 67 Crescent Avenue | $1,065,000 | 1220 | 780 | 107 |
| 143 Prospect Avenue | $1,165,000 | 2560 | 455 | 27 |
| 90 Cazneau Avenue | $1,557,000 | 2200 | 708 | 62 |
| Averages | $788,031 | 1607 | 581 | 118 |
Posted by David DuPont 415-867-6611
Comments (0)Subscribe to CommentsComment