Marin home prices up 4.5 percent in January

February 10th, 2012

Marin home prices climb 4.5 percent in January to an average selling price just under $1 million, sales down 13.4 percent during same period.

Prices of single-family homes were up 4.5 percent in January compared with December, according to BAREIS MLS® – the Marin MLS provider. Of the 13 cities we track, six posted increases, with an average home price of $994,144. Belvedere, Kentfield, Ross and San Rafael posted the biggest monthly increases. The pace of home sales for January was down 13.4 percent, 122 vs. 141 in December.

Marin home prices were up 22.2 percent in January compared with last year, $994,144 vs. $813,188 in January 2011. During the same period, the pace of Marin home sales was up 34.1 percent, 122 last month vs. 91 in 2011.

Area

Average

Sale Price

Median

Sale Price

Total

Sales

Avg.

DOM

All Marin
$994,144
$700,000
122
113
Belvedere
$4,650,000
$4,650,000
1
126
Corte Madera
$787,000
$787,000
1
126
Fairfax
$338,667
$298,000
3
85
Greenbrae
$725,000
$725,000
1
121
Kentfield
$3,716,667
$3,900,000
3
147
Larkspur
$946,917
$837,500
6
133
Mill Valley
$1,190,500
$987,500
14
118
Novato
$605,339
$535,000
25
105
Ross
$1,078,750
$860,000
4
97
San Anselmo
$648,267
$630,000
9
70
San Rafael
$757,821
$560,000
31
100
Sausalito
$877,000
$975,000
3
44
Tiburon
$1,972,813
$2,000,000
8
85

Belvedere Island home sells for $4.2m

February 7th, 2012

This five bedroom, 7 bath Belvedere Island gated estate with infinity views, Bay frontage and boat dock just sold in early February for $4.2 million.

$4,200,000

43 Cliff Rd

Belvedere, CA

5 beds, 6.5 baths

5506 sqft, 1951 year

Originally listed for $4,500,000, this five bedroom, 7 bath gated Belvedere estate is set on 3/4 acre & has exquisite infinity views of the Bay, Golden Gate Bridge, SF Skyline and Sausalito. The west facing lot runs from Belvedere Ave to Bay frontage with a private beach & rare boat dock. Fantastic footprint & opportunity to remodel or redevelop into a masterpiece legacy property!

Mortgage rates jump reversing 3 week trend

January 26th, 2012

Fixed mortgage rates climb as the housing market ended 2011 on a high note. Still, this marks the eighth consecutive week 30-year below 4 percent.

Freddie Mac today released the results of its Primary Mortgage Market Survey in which the 30-year fixed-rate mortgage (FRM) averaged 3.98 percent with an average 0.7 point for the week ending January 26, 2012, down from last week when it averaged 3.88 percent. Last year at this time, the 30-year FRM averaged 4.8 percent.

Frank Nothaft, vice president and chief economist at Freddie Mac, reports, “Fixed mortgage rates ticked up this week as the housing market ended 2011 on a high note. New construction of one-family homes rose 4.4 percent in December to an annualized rate of 470,000, the most since April 2010. Existing home sales increased 5.0 percent at the end of the year to 4.61 million houses, the largest amount since May 2010. Furthermore, pending home sales in November and December averaged the highest reading since the March and April 2010 period.”

Mortgage Rates 1-26-12
Primary Mortgage Market Survey [Freddie Mac]

New $45 million waterfront Belvedere home

January 18th, 2012

The site of 41st Marin Designer Showcase, this world-class Belvedere estate on a rare 1+ acre waterfront lot is one of the finest homes in Northern California.

$45,000,000

425 Belvedere Ave

Belvedere, CA

7 beds, 11 baths

15500 sqft, 2012 year

More Info >>

New world-class Belvedere estate on rare 1+ acre waterfront lot. Panoramic views of SF, GG Bridge, Sausalito & Bay Bridge. Aprox. 15,500 sq. ft. with 7 bedrooms, 9 full & 2 half baths, pool, spa, sauna, steam room, gym, magnificent terraces, gourmet kitchen, wine cellar, luxurious master suite, theater, office, elevator.

Priciest property in Marin for 2011

January 10th, 2012

The sale of this 9,000 sq. ft. exceptional Ross estate for $13.5 million in October set the benchmark in 2011 for the highest Marin home sale for the year.

$13,500,000
104 Laurel Grove
Ross, CA

6 beds, 5.5 baths
8665 sqft, 1987 year

One of Marin’s most breathtaking estates, with nearly 9,000 sq. ft. of masterfully designed interiors on over 2.2 acres of park-like grounds and level lawns. Beautiful and grand, with formal living & dining rooms, stunning kitchen/family room w/ 2 separate office areas. Top-floor master suite with 2 huge closets and lavish marble bath. Exquisite outdoor living w/ pool, enormous lawn and turf sports field.

Marin home prices up in December

January 4th, 2012

Marin home prices last month rose 3 percent over the previous, home sales shrank a notable 13.5 percent during the same period.

Prices of single-family homes were up 3.1 percent in December compared with November, according to BAREIS MLS® – the Marin MLS provider. Of the 13 cities we track, eight posted increases, with an average home price of $951,328. Corte Madera, Fairfax and Tiburon posted the biggest monthly increases. The pace of home sales for December was down 13.5 percent, 141 vs. 163 in November.

Marin home prices were down 2.3 percent in December compared with last year, $951,328 vs. $973,910 in December 2010. During the same period, the pace of Marin home sales was down 10 percent, 141 last month vs. 157 in 2010.

Area

Average

Sale Price

Median

Sale Price

Total

Sales

Avg.

DOM

All Marin
$951,328
$675,000
141
99
Belvedere
$2,910,833
$3,652,500
3
144
Corte Madera
$1,002,188
$970,000
8
90
Fairfax
$735,000
$586,750
4
120
Greenbrae
$796,000
$796,000
1
115
Kentfield
$1,368,750
$1,497,500
4
59
Larkspur
N/A
N/A
0
N/A
Mill Valley
$1,196,800
$818,000
18
97
Novato
$588,137
$512,000
35
95
Ross
$425,000
$425,000
1
33
San Anselmo
$814,584
$725,000
13
93
San Rafael
$668,194
$637,000
33
97
Sausalito
$1,483,200
$1,825,000
5
105
Tiburon
$2,117,143
$1,800,000
7
143

Mortgage rates finish year near all-time lows

December 29th, 2011

Fixed mortgage rates finishing the year near their all-time historic lows helping to keep homebuyer affordability high. Averaging 3.95 percent, the 30-year fixed has been at or below 4 percent for the past nine consecutive weeks and only twice in 2011 did it average above 5 percent.

Freddie Mac today released the results of its Primary Mortgage Market Survey in which the 30-year fixed-rate mortgage (FRM) averaged 3.95 percent with an average 0.7 point for the week ending December 29, 2011, down from last week when it averaged 3.91 percent. Last year at this time, the 30-year FRM averaged 4.86 percent.

Frank Nothaft, vice president and chief economist at Freddie Mac, reports, “Mortgage rates ended the year hovering near historic lows in an already affordable housing market. For instance, the seasonally-adjusted S&P/Case-Shiller® 20-City Composite home price index in October was the lowest seen since March 2003. The largest hit areas were Las Vegas with the lowest reading since January 1997 and Atlanta which was since June 1998. It’s not surprising then that over 5 percent of households in December plan to purchase a home over the next six months, the highest share since May, according to The Conference Board.”

Mortgage Rates 12-29-11
Primary Mortgage Market Survey [Freddie Mac]

Stinson Beach home fetches $5.7m

December 14th, 2011

This four bedroom, 3 bath Stinson Beach home in the exclusive ocean front gated community of Seadrift sold in December for $5.7 million.

$5,700,000

172 Seadrift Rd

Stinson Beach, CA

4 beds, 3 baths

1793 sqft, 1983 year

Originally listed for $6,450,000, this four bedroom, 3 bath Stinson Beach home sits on three quarters of an acre of ocean front property in the exclusive gated community of Seadrift. Truly stunning, this Tahitian style retreat features tropically lush landscaping, large swimming pool, spa and an open floor plan with sliding glass doors that disappear to provide indoor/outdoor living and entertaining at its finest.

Marin home prices fall in November

December 7th, 2011

Marin home prices fell 8.45 percent last month over previous month, the number of home sales was up 8.6 percent during the same period.

Prices of single-family homes were down 8.45 percent in November compared with October, according to BAREIS MLS® – the Marin MLS provider. Of the 13 cities we track, six posted decreases, with an average home price of $922,448. Larkspur, Mill Valley and San Anselmo posted the biggest monthly decreases. The pace of home sales for November was up 8.6 percent, 163 vs. 150 in October.

Marin home prices were down 20 percent in November compared with last year, $922,448 vs. $1,153,273 in November 2010. During the same period, the pace of Marin home sales was up 11 percent, 163 last month vs. 147 in 2010.

Area

Average

Sale Price

Median

Sale Price

Total

Sales

Avg.

DOM

All Marin
$922,448
$737,000
163
96
Belvedere
$3,550,000
$3,550,000
1
41
Corte Madera
$856,563
$806,000
8
108
Fairfax
$564,900
$435,000
5
118
Greenbrae
$998,000
$995,000
5
44
Kentfield
$2,149,674
$1,743,370
5
78
Larkspur
$1,180,400
$1,350,000
5
67
Mill Valley
$1,086,023
$892,000
22
91
Novato
$567,196
$491,000
35
80
Ross
$835,000
$835,000
2
150
San Anselmo
$804,311
$563,425
11
117
San Rafael
$668,159
$647,500
34
107
Sausalito
$1,446,273
$1,465,000
11
141
Tiburon
$1,450,792
$1,187,500
12
70

30-year below 4 percent four weeks straight

November 23rd, 2011

Fixed mortgage rates changing little and remaining near their historic lows while adjustable-rate mortgages averaged new record lows.

Freddie Mac today released the results of its Primary Mortgage Market Survey in which the 30-year fixed-rate mortgage (FRM) averaged 3.98 percent with an average 0.7 point for the week ending November 23, 2011, down from last week when it averaged 4 percent. Last year at this time, the 30-year FRM averaged 4.40 percent.

Frank Nothaft, vice president and chief economist at Freddie Mac, reports, “Mortgage rates eased slightly this week with fixed-rate loans hovering above all-time lows and ARMs reaching a new nadir. The high-degree of home-buyer affordability in recent months translated into a 1.4 percent pickup in existing home sales during October, according to the National Association of Realtors (NAR). The NAR also reported that contract cancellations were up in October as well, which restrained sales from achieving a stronger rebound.”

Mortgage Rates 11-23-11
Primary Mortgage Market Survey [Freddie Mac]