Tiburon, CA

Consistent with last month, the Tiburon and Belvedere real estate markets remain in a state of semi-slumber pending further clarity regarding the equities and housing markets. There are currently 110 active listings in the 94920 zip code, which covers Belvedere and Tiburon. Twenty-three of these properties are priced over $5 million with just one such home going into escrow in the past 3 months). Meanwhile, there is some limited activity in the lower price bands, including 2 sales in the $2 million to $3 million range. In June 2009, we had 10 sales compared with 7 sales in May 2009 (same as April 2009). Six of last month’s sales were properties priced under $2 million.

One interesting observation based on the below graph: 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. Indeed, there are currently 5 homes for sale in Tiburon under $1 million and another home in Belvedere. Rarely do we see Belvedere homes hit the market under $1 million.

As of July 8, 2009 only 12% of available listings in Tiburon are in escrow.

For the month of June 2009 only 8 homes sold in Tiburon for an average final selling price of $1,996,063.

The average original asking price of these homes was $2,124,375.

The range of final selling prices was from a low of $801,000 to a high of $3,112,500.

Of the 8 homes that sold, 1 sold for more than the original asking price and all others sold for less. (1 was a distress sale.)

It took these homes an average of 74 days to sell.

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

To learn more about this area, including all the fun things to do around here, visit my website or contact me directly.

As inventory collects in Southern Marin's toniest locales (Belvedere and Tiburon), we are starting to see and hear about more offers being submitted. Certainly, sellers frustrated by the lack of activity have in some cases taken what they could get. Most recognize that our new economy, post-Equity Market Meltdown, has shifted the pricing and value expectations of buyers. While I perceive a high level of pent up buyer demand, buyers seem to be willing to wait things out. Much of this behavior is based on expectations of further price declines weighed against likely increased interest rates in the near to mid-term future. Most buyers I talk to recognize that the time to act, if not here yet, is close. Indeed, when buyers see value, they act. In fact, Morgan Lane Marin has 16 closings coming up in the next 10 days (TIburon and Belvedere).

Typical for this time of year, we have lots of new listings. There are currently 120 active listings in the 94920 zip code which covers Belvedere and Tiburon, including 29 homes priced over $5 million (although no homes in this price range are in escrow). Meanwhile, there is some limited activity in the lower / value price bands. While there were 7 sales in April 2009, 4 of these were homes priced under $2 million and another 2 sales were under $3 million. One interesting observation based on the below graph: 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).

As discussed last month, many of the homes taken off the market during November and December 2008 been re-listed with adjusted prices (35 homes were withdrawn or expired in the final 2 months of 2008). Indeed, in light of the startling numbers relating to Days on Market and final sales price, sellers are well advised to price their homes aggressively (if you would like a chart depicting list price to sales price ratios based on the number of days on the market so far this year, please contact me by calling (415) 350-9440). See below for a comparison of sales statistics against May 2006.

There are currently 32 active properties listed for sale under $2 million in Tiburon and Belvedere - six more are in escrow. Below is a chart with up to date figures relating to the number of homes on the market in Tiburon and Belvedere, along with the number of homes currently in escrow.

Tiburon and Belvedere real estate that sold last month exhibited the following characteristics (compared with 2006, in parentheticals): -Number of Sales: 7 (2006=12) -Average Days on Market: 123 (2006=53) -Price: $2.21 million (2006=$3.1 million) -Square Feet: 2,855 (2006=3388)

-Price per Square Foot: $758 (2006=$910) 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. 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.

As of June 3, 2009 only 9% of listings in Tiburon are currently in escrow.

For the month of May 2009 only 6 homes sold in Tiburon for an average final selling price of $1,843,917.

The average original asking price of these homes was $2,186,500.

The range of final selling prices was from a low of $876,000 to a high of $2,775,000.

Of the 6 homes that sold only 1 sold for more than the original asking price and all other sold for less.

It took these homes an average of 126 days to sell.

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

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

To see some of the fun things to do around here click here.

There is nothing like Springtime on the Tiburon Peninsula, Corinthian Island, and Belvedere Island. Not only is the setting the most stunning in the World, but the wave of homes that hit the market this time of year is always awesome in its suddenness and impressiveness. Following a lackluster January & February 2009, March delivered 6 sales, including five sales in the $3 million to $10 million price range. Certainly, some extremely alluring inventory has found its way to market over the past few weeks, as we now have 19 homes on the market over $5 million, with more to come, including a couple of homes that are stunning!