Price Range
Total Homes
In Escrow
up to $2 million
28
21%
$2 million to $3 million
27
4%
$3 million to $5 million
19
21%
$5 million to $10 million
16
13%
$10 million and up
7
14%
Tiburon CA & Belvedere CA Real Estate Market Report (March 2009 Home Sales Update)
After a lengthy period of overcast skies and a good deal of rain, the sun has returned to our happy peninsula, just in time for daylight savings. Never-mind that just like January 2009, February 2009 gave rise to just 2 home sales in Belvedere and Tiburon combined; sunshine, recently improving numbers in the stock market (considered by some a leading indicator), and pent-up buyer demand just might be the right recipe for increased sales as Spring sets in. Certainly, some nice inventory has found its way to market over the past few weeks, including 9 homes over the past week (among these are a couple of highly desirable Belvedere Lagoon properties).
It will be interesting to see how the year unfolds because many of the homes that were taken off the market during November and December 2008 will likely be re-listed with adjusted prices (as noted last month, there 35 homes withdrawn or expired in the last 2 months of 2008). In light of the startling numbers relating to Days on Market and final sales price, sellers are well advised to price their homes aggressively (if you would like a chart depicting list price to sales price ratios based on number of days on the market so far this year, please contact me -- again, the numbers are startling).
I note also that the only 2 homes are priced under $1 million in Tiburon and/or Belvedere--those kinds of deals don't last very long. Tiburon has well over a dozen homes available under $2 million. Below is a chart with up to date figures relating to the number of homes on the market in Tiburon and Belvedere, along with the number of homes currently in escrow. The market is pretty flat.
As noted above, there were just 2 sales last month (one of which involved my company, Morgan Lane Marin). One was an approximately ,1270 sq. ft. home in Tiburon that traded for $770,000. The other was a view home in Tiburon that closed for $2.1 million (a 5 bedroom, 4.5 bath home, with about 2,700 sq. ft.). Stay tuned for next month's installment as it will intriguing to see how the coming month plays out.
If you have any other questions or a detailed market analysis of your home's current market value, please call me at (415) 350-9440. It is always my pleasure to be of service.
p.s. I know of several properties that are not being formally marketed on the MLS, so please call me to see if any of these may meet your needs.
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