|
Dear Clients, Family, Friends, and Neighbors,
Happy first day of May! Mother’s Day is on May 12, and I am blessed to have some extraordinary women in my life. My fantastic mom just celebrated her 89th birthday and is still on the links playing golf multiple times a week, plays bridge nearly every day, and has a very fulfilling social life. She is my hero and our family role model for a well-lived life. My three wonderful daughters and a sweet grandson, Kai, are my greatest gifts and joys in life.
| |
|
On to real estate. We are in the middle of our spring selling season and beginning to see a few trends shaping the market through the first four months of 2024.
Here's a closer look at how the market has evolved year-to-date (YTD):
The Federal Reserve announced today that the central bank left interest rates unchanged in order to continue to combat inflation concerns.
Market Overview YTD 2024:
Total Transactions: Marin County has seen 388 single-family home sales this year. Compared to the 406 transactions last year, we're observing a slight decrease of approximately 0.1% in activity.
Stable High-Value Transactions: In towns like Corte Madera and Mill Valley, the number of transactions has remained consistent with last year, reflecting these areas' enduring appeal and stability.
Emerging Hot Spots: San Rafael and San Anselmo have shown remarkable transaction increases, with San Rafael seeing a 21.5% rise, highlighting it as an emerging hotspot for buyers.
Challenges in Inventory: Some areas like Belvedere, Fairfax, and Ross have experienced significant declines in sales, which can be partly attributed to the ongoing inventory shortages that continue to challenge the market.
Insights into Buyer Behavior:
Multiple Offers: Approximately 51% of the homes sold this year received multiple offers, indicating a competitive market where well-priced and well-located homes continue to attract significant interest.
Cash Buyers: The proportion of transactions completed with cash remains high at 39% and just over 50% at $5M +, underscoring the financial strength of buyers within our market.
So far this year, the luxury real estate market has recorded five sales priced above $8 million, with one additional sale pending, all within the $8,000,000 to $8,800,000 range. This is consistent with last year's figures, where there were also five sales in the same price bracket, though three of those exceeded $14 million. This indicates a relative stability in the number of high-end transactions, but with a notable absence of the higher-value sales seen last year. For today's real estate market, this could suggest a cooling in the highest tiers of property values, even as the market for luxury homes remains active.
| |
Supporting quality public education is a priority for me. Our team was honored to be the Gold Sponsor of the 2024 Ross School Foundation Golf Tournament, held at Meadow Club on Monday. We are also a premier sponsor of the Kentfield Schools Heroes + Villains Auction and Dinner at Bimbos this Saturday. We had lots of fun seeing clients and neighbors at our Spring Open House last week at our historic Ross Garage office. | |
|
Despite the slight year-over-year dip in total transactions, the market's fundamentals remain strong, supported by robust buyer interest and substantial financial backing. The press reports that despite interest rates creeping up since the beginning of the year, many homebuyers are not waiting for rates to lower and want to get on with their lives. The San Francisco luxury market is partially rebounding because of optimism about the growth of AI's impact on the Bay Area market.
Our team is committed to leveraging our expertise to help clients navigate this dynamic market landscape. Please feel free to reach out anytime if we can be helpful.
| |
Current Active & Coming Soon Properties | |
|
121 Woodland Road, Kent Woodlands
4 BD | 4 Full 4 Half BA | 5,945 SQ FT | 1.0306-Acre Lot | Pool & Pool Cabana
Just Listed: $14,500,000
| |
|
224 Woodland Road, Kent Woodlands
6 BD | 5.5 BA | 5,609 SQ FT | 0.8893-Acre Lot | Pool
Available Now: $10,750,000
| |
|
446 Palm Avenue, Kentfield
6 BD | 5.5 BA | 5,040 SQ FT | 0.4315-Acre Lot
Available Now: $4,795,000
| |
|
19 Santa Clara Court, San Rafael
5 BD | 3.5 BA | 2,950 SQ FT | 0.2204-Acre Lot
Just Listed: $1,995,000
| |
|
Custom-Built Luxury Home.
Country Club Area, Mill Valley
6 BD | 5 BA | 5,705 SQ FT | 1.9132-Acre Lot | Pool & Pool House
Coming Soon
| |
603 Goodhill Road, Kent Woodlands
4 BD | 3.5 BA | 3,606 SQ FT | 1.9972-Acre Lot
In Contract: $5,600,000
| |
|
Spring Road, Kent Woodlands
2.0248-Acre Lot | Pool & Guest House
Coming Soon
| |
513 Goodhill Road, Kent Woodlands
3 BD | 2.5 BA | 3,026 SQ FT | 0.4917-Acre Lot
Sale Pending: $2,950,000
| |
|
30 Ross Terrace, Kentfield
4 BD | 4 BA | 3,330 SQ FT | 0.0835-Acre Lot
Sale Pending: $2,495,000
| |
|
136
Successful Buyer Purchases
Larks.
| |
|
Buyers looking for a home with exceptional land and privacy in the flats of Kentfield, Mill Valley, or Ross.
Budget up to $12M.
| |  |
|
Buyer seeking modern home with yard, privacy and a pool in Kentfield, Ross or Larkspur. Primary bedroom on the main level is important.
Budget up to $8M.
| |
|
Buyers seeking nicely updated home in Corte Madera, Greenbrae, Kentfield, Larkspur or San Anselmo. Pool or pool location is a must. Minimum 5 bedrooms or 4 + office, with decent-sized rooms.
Budget up to $4M.
| | |
|
Buyer looking for a home in the Ross School District, either in Ross or Del Mesa area of Kentfield.
Budget up to $2M.
| |
2024 CHC Team Property Sales | |
|
Waterfront Home, Belvedere
Sold Off-Market: $8,600,000
Buyer Representation
| |
|
80 Marina Vista Avenue, Larkspur
Sold: $5,500,000
| |
|
Private Off-Market, San Anselmo
Sold Off-Market: $3,400,000
Buyer Representation
| |
|
5 Palmer Court, Tiburon
Sold: $3,388,500
Buyer Representation
| |
|
121 Harbor Drive, Corte Madera
Sold: $1,520,000
Buyer Representation
| |
Compass Luxury Report - End of Year 2023 | |
|
San Francisco Buyers Bring Its Luxury Housing Market Back to Life
WSJ - April 25, 2024
| |
|
These Home Seller Are Done Waiting for
the Fed to Lower Rates.
WSJ - April 20, 2024
| |
|
Boomers Bought Up the Big Home. Now They're Not Budging
WSJ - April 13, 2024
| |
|
12 Home Splurges That You’ll Never Regret, According to Interior Designers
Architectural Digest - April 1, 2024
| |
|
The Best Hiking Trails in Each Bay Area County According to 850,00 AllTrails Review
SF Gate
| |
|
Compass National Real Estate Insights
April 2024
| | |
Wildfire Evacuation: Make It Downhill Alive - April 2024 | |
|
23 Ross Common, Suite 3 | Ross, CA 94957
415-461-8609 | carey@chcteam.com
chcteam.com | DRE 01323032
| |
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. | | | | |
