Tiburon, CA

Belvedere and Tiburon real estate is expensive — land values are extraordinarily high. Several homes each year sell for $5 million and up. As 2009 began to unwind, the luxury sector was flat for obvious reasons and it seemed as though the highly valued luxury homes with jetliner views and royal class appointments would never sell again — that has changed. For four months straight we have experienced sales above the $5 million mark. October was no exception with 2 sales.

Nonetheless, sales and activity remain choppy. There are currently 93 listings in the 94920 zip code, which covers Tiburon and Belvedere (down 16 from last month). Twenty-two of these properties are priced over $5 million. In the lower price segments, activity is moderate (3 sales under $2 million). There were 8 sales in September 2009.

Not until March of this year did the median asking price for homes in Belvedere dip below that of 2008. Belvedere was the last Marin city to experience that shift (a full 6 months after Tiburon). Over the past several months however, that shift has become more exaggerated as prices begin reflecting market realities. Currently, the median asking asking price in Belvedere is more than $1.25 million lower than 1 year ago. In contrast, Tiburon’s asking prices have actually increased to the point they are slightly above those of a year ago — of course, these are asking prices, not sales prices.

For homes that sold in October 2009, the average price per square foot was $774 — far above August’s $674. Below are the percentages of homes in escrow in each of the major price bands:

• 20% of homes priced under $2 million (up from 19% last month);
• 22% of homes between $2 million and $3 million (up 10% from last month);
• 8% of homes between $3 million and $5 million ( down from 12% from last month);
• 4% of homes over $5 million (down from 12% from last month).

Tiburon and Belvedere homes that sold in October 2009 exhibited the following characteristics:

• Number of Sales: 8
• Average Days on Market: 121
• Price: $3,097,500
• Square Feet: 3,684
• Price per Square Foot: $774

If you have any other questions or would like a custom market analysis of your home’s current likely sales price, please call me at (415) 350-9440. My name is Kyle Frazier and I am a Broker, Certified Residential Specialist (CRS), and Certified Luxury Home Marketing Specialist (CLHMS) with Christie’s Great Estates | Morgan Lane International Realtors. 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 if you are looking to buy please call me to see if any of these may meet your needs. If you would like a copy of my Tiburon / Belvedere Hotlist, e-mail me at Kyle@ImagineMarin.com.

As of November 6, 2009 a mere 14% of available listings in Tiburon are in escrow.

For the month of October 2009 only 8 homes sold in Tiburon, for an average final selling price of $2,408,125.

The average original asking price of these homes was $2,703,556.

The range of final selling prices was from a low of $490,000 to a high of $6,500,000.

Of the 8 homes that sold, 1 sold at the original asking price and 1 sold for more than the original asking price.

It took these homes an average of 88 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.

Belvedere and Tiburon sit on the Tiburon Peninsula and associated islands, just across a narrow portion of the San Francisco Bay and the Golden Gate Bridge. Real estate is expensive. Several homes each year sell for $5 million and up. As 2009 began to unwind, the luxury sector was flat for obvious reasons and it seemed as though the highly valued luxury homes with jetliner views and royal class appointments would never sell again — that has changed. For three months straight we have experienced sales above the $5 million mark.

As of October 9, 2009 a mere 6% of available listings in Tiburon are in escrow.

For the month of September 2009 only 7 homes sold in Tiburon, for an average final selling price of $2,246,429.

The average original asking price of these homes was $3,069,857.

The range of final selling prices was from a low of $580,000 to a high of $5,880,000.

Of the 7 homes that sold (1 of which was a distress sale) 2 sold over their orignal asking prices and all other sold for less than their original asking price.

It took these homes an average of 256 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.

Tiburon and Belvedere, California real estate is some of the most valuable in the Bay Area — Belvedere had a closing at $5.1 million in August 2009. Perhaps because of this, sales and activity remain choppy, despite the favorable market environment for buyers. In fact, even the "anti-real estate" Wall Street Journal recently noted that the real estate market "has rarely looked better" click HERE for article.

There are currently 113 active listings in the 94920 zip code, which covers Tiburon and Belvedere (up by about 10 properties from last month). Twenty of these properties are priced over $5 million. While last month’s report noted increasing activity, it appears we are back to baseline experienced in the first quarter of 2009. There were just 8 sales in August 2009 and 6 of these were under $1 million. There are currently 29 active properties listed for sale under $2 million in Tiburon and Belvedere — 7 additional homes are in escrow.

[Click HERE for the rest of the article, courtesy of www.NorthBayRE.com].