September 2024 Newsletter | |
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Dear Clients, Neighbors, and Friends,
Today is the last day of September, and according to the SF Chronicle, the hottest weather in the past two years is coming to the Bay Area this week. Enjoy what may be your final dips in the pool for the year. Extended summer, Blue Angels, and Halloween are all great reasons to love the fall here.
On September 18th, the Federal Reserve dropped its benchmark rate by .5%, the first time since 2020, with an anticipated two more this year. Mortgage rates are now the lowest since February 2023. Lower rates could draw buyers and sellers from the sidelines. Economists project rates will be around 6.2% by the end of 2024 and could drop to 5.5% by the end of 2025, increasing competition as more buyers re-enter the market.
Patrick Carlisle's, Compass Chief Market Analyst, newest market report gives an excellent overview of the market trends.
The Marin market stats below show an increase in sales YOY in most markets except Belvedere (-34% in all price points and -21% in $5M +), Fairfax (-10% in all price points), Tiburon (-17% in all price points/+50% $5M+), Ross (-6% in all price points), Kentfield is up (+28% in all price points/ +40% in $5M +), and Mill Valley (+ 4% in all price points/+44% in $5M +). Of note, at $10M + YTD, four sales (1 in Kentfield/2 Ross/1 Larkspur – our team was involved with 2 of these sales) vs YTD 6 sales in 2023 and YTD 14 in 2022. There are currently 21 active listings ($10M +) with an average day on the market of 145.
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Q4 begins tomorrow. To get a jump on the spring 2025 market, I encourage anyone contemplating the sale of your home, to not wait until January to begin the process of prepping your home for the market. The best stagers, designers, general contractors, and landscapers will be booked. The prime months to put your house on the market for the spring are March and April. Luxury home buyers are picky and value move-in-ready homes and properties with no deferred maintenance. There is an art and a science to properly preparing your home for the market to maximize its value. We are already scheduling our 2025 listing appointments.
Our team and I would love to hear from you. Please stop by our downtown Ross office anytime or give us a call.
Happy Fall!
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Current Active and Coming Soon Properties | |
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224 Woodland Road, Kent Woodlands
6 BD | 5.5 BA |5,609 SQ FT | 0.8893 - Acre Lot | Pool
Listing Price: $9,500,000
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Available Off-Market
Iconic Kent Woodlands Estate
6 BD | 4.5 BA | 6,555 SQ FT | 1.79 - Acre Lot |
Pool & Pool House
Listing Price: $8,995,000
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16 Sheridan Court, Mill Valley
6 BD | 4 BA | 5,705 SQ FT | 1.9132 - Acre Lot |
Pool & Pool House with Full Bath
Pending: $7,000,000
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Available Off-Market
114 Winding Way, Ross
4 BD • 3.5 BA • 4,280 SQ FT• .7591 Acre Lot
Listing Price: $4,895,000
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Coming Soon
West Marin
3 BD | 3.5 BA | 5,688 SQ FT | 15.5 - Acres
Guest House with Full Bath
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146
Successful Buyer Purchases Larks.
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2024 CHC Team Property Sales | |
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121 Woodland Road, Kent Woodlands
Sold: $12,500,000
Multiple Offers
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34 Laurel Avenue, Larkspur
Sold Off-Market: $11,200,000
Buyer Representation
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Waterfront Home, Belvedere
Sold Off-Market: $8,600,000
Buyer Representation
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23 Spring Road, Kent Woodlands
Sold: $6,780,000
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1 Orchard Way, Kent Woodlands
Sold: $6,000,000
Buyer Representation
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80 Marina Vista Avenue, Larkspur
Sold: $5,500,000
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603 Goodhill Road, Kent Woodlands
Sold: $5,500,000
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446 Palm Avenue, Kentfield
Sold: $4,500,000
Represented Both Buyer and Seller
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1 Blue Ridge Road, Kentfield
Sold Off-Market: $4,000,000
Buyer Representation
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5 Palmer Court, Tiburon
Sold: $3,388,500
Buyer Representation
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196 Deer Hollow Road, San Anselmo
Sold Off-Market: $3,400,000
Buyer Representation
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30 Ross Terrace, Kentfield
Sold: $3,200,000
Multiple Offers
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250 Harvard Drive, Larkspur
Sold: $3,025,000
Multiple Offers
Buyer Representation
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513 Goodhill Road, Kent Woodlands
Sold: $3,005,000
Multiple Offers
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291 Riviera Drive, San Rafael
Sold: $1,900,000
Buyer Representation
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2008 Fifth Avenue, Sun Valley/Forbes, San Rafael
Sold: $1,900,000
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20 Hickory Road, Fairfax
Sold: $1,825,000
Buyer Representation
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67 Bolinas Avenue, Ross
Sold: $1,825,000
Buyer Representation
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19 Santa Clara Court, San Rafael
Sold Off-Market $1,700,000
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121 Harbor Drive, Corte Madera
Sold: $1,520,000
Buyer Representation
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14 Bedford Cove, San Rafael
Sold: $855,000
Buyer Representation
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At long last, the Fed is slashing interest rates. Is it time to buy a home in the Bay Area?
SF Gate - August 18, 2024
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Marin County Real Estate Insights
Compass - August 2024 Report
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Selected Macroeconomic Factors & Indicators Pertinent to Bay Area Real Estate Markets
Compass - September 2024 Report
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How to Chose the Right Mulch for Fire Safety
Fire Safe Marin - September 11,2024
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23 Ross Common, Suite 3 | Ross, CA 94957
415-461-8609 | carey@chcteam.com
chcteam.com | DRE 01323032
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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. | | | | |
