Kentfield, CA

As of November 6, 2009 only 29% of available listings in Larkspur are in escrow.

For the month of October 2009 only 4 homes sold in Larkspur, for an average final selling price of $1,089,250.

The average original asking price of these homes was $1,299,750.

The range of final selling prices was from a low of $640,000 to a high of $3,680,000.

Of the 4 homes that sold all sold for less than their original asking price.

It took these homes an average of 131 days to sell.

To see everything that is currently available for sale through our MLS, click here.

To learn more about this area, visit my website or feel free to contact me directly.

As of November 6, 2009 31% of available listings in Kentfield are in escrow.

For the month of October 2009 only 4 homes sold in Kentfield, for an average final selling price of $3,258,500.

The average original asking price of these homes was $3,478,500.

The range of final selling prices was from a low of $784,000 to a high of $9,200,000.

Of the 4 homes that sold 2 sold for more than their original asking price and the other 2 sold for less.

It took these homes an average of 56 days to sell.

To see everything that is currently available for sale through our MLS, click here.

To learn more about this area, visit my website or feel free to contact me directly.

As of October 9, 2009 only 21% of available listings in Kentfield are in escrow.

For the month of September 2009 only 5 homes sold in Kentfield for an average final selling price of $2,552,000.

The average original asking price of these homes was $2,672,800.

The range of final selling prices was from a low of $1,190,000 to a high of $4,500,000 (which, by the way went on the market at $3,650,000 and sold to a cash buyer, closing in only 17 days).

Of the 5 homes that sold, all but the one listed above which sold well over asking, sold for less than their original asking price.

It took these homes an average of 123 days to sell.

To see everything that is currently for available for sale on our MLS, click here.

For more information about this area visit my website or feel free to contact me directly.

As of September 11, 2009 23% of available listings in Kentfield are in escrow.

For the month of August 2009 8 homes sold in Kentfield, for an average final selling price of $1,384,250.

The average original asking price of these homes was $1,561,625.

The range of final selling prices was from a low of $724,500 to a high of $1,912,500.

Of the 8 homes that sold all sold for less than their original asking price.

It took these homes an average of 103 days to sell.

To see everything that is currently available on our MLS click here.

To learn more about this area visit my website or contact me directly.

One way to evaluate how much farther prices will have to fall in Central Marin County CA is to approximate average incomes in each town and to apply some basic financial planning concepts to determine what average prices should be.

Approximate 2009 Average Incomes:

•· Incomes in Larkspur: $142,000

•· Incomes in Kentfield: $242,000

•· Incomes in San Anselmo $119,000

1. Example: The average family living in Homes in Larkspur CA earns $142,000, pays $16,000 income tax, leaving them with $126,000. They spend 30% on mortgage interest, could afford a $38,000 annual mortgage (rate 5.5%), and a $691,000 mortgage. The average homeowner has 35% home equity, so Larkspur can support an average home value of $1,062,000.

The result shows that homes in Larkspur CA are priced very close to where they should be, and that homes in Kentfield CA are substantially above what those towns could support from a financial planning perspective. It is important to note that the resident of Kentfield have had long successful careers and their current incomes are not the key to home ownership in the better neighborhoods there.

Homes in San Anselmo CA are trading below where they should be from a financial planning / income perspective, and many homes on the market represent a great bargain.

Posted by David DuPont 415-867-6611