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Marin High End Homes Update 4/23/09

For the purposes of this blog, High-end homes in Marin County are defined as Marin real estate priced at $3 million or higher. This is a snapshot of what has happened over the past three months.

High-end Homes Activity

There were/are 108 homes on the market. 8 of those homes sold, one is pending, 3 are contingent, and the other 98 are active.

High-end Homes Market Conditions

During the past three months the housing supply of high-end homes in Marin came in at 40.45 days (listings/absorption rate). The average list price over that time period was $6,398,182, while the average sales price was $4,694,248.  The highest sale being $9,000,000 in Tiburon. The average number of days that high-end homes were listed on the market in Marin was 106 days. The home that has been on the market the longest has been active for 588 days. Of the homes that sold in the past three months, the one that took the longest to sell, was on the market 427 days, and one sold without ever making it to the market. The most expensive home on the market is listed for $48,000,000 in Belvedere.

High-end Homes Analysis

The take-away from this update is that there was a jump in sales of Marin luxury real estate over the last three months. If you believe these folks to be the smart money, because they have the cash to be nimble enough to pull the trigger at any time, which means they have the luxury of cherry-picking, one could draw the conclusion that this bucket of buyers see some good values out there.

Contact Jonathan B. Jacobs for High End Real Estate Representation.

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