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Pick of the week: 216 Mountain View, San Rafael. 8 BD/5 BA. Iconic Dominican Estate with giant palms, circular drive - classic mid-century design on level 1+ acre, main home 4000+ sf, enormous pool, stone patio with fireplace, pool house (legal 2nd unit). $2,590,000.
New: 181 Tunstead, San Anselmo. 2 BD/2 BA. This is a very special place to call home. You are steps away from popular downtown San Anselmo that is known for its delicious restaurants and boutiques. $999,000.
New: 2131 Paradise Dr, Tiburon. 6 BD/6 BA. This is the one: breathtaking views of S.F., Angel Island to the E. Bay PLUS an easy walk to downtown cafes, the Ferry & yacht clubs! $4,995,000.
Market Trends - Marin County
Total Available Properties for Sale: 460
Total in Contract: 215
Absorption Rate (Pended Sales %): 46.7%
Median Sold Price in last 30 days: $1,125,000
Analysis (updated quarterly):
Inventory has shot up 25% year over year. This means that buyers now have more to choose from amongst the competition. Although prices have stayed relatively the same (even a slight increase in avg price since last year - likely due to a large sale in the county), the combination of more inventory, only slight increase in pendings (230 last Sept, 247 this year), and rising interest rates are strong indicators of a changing marketplace. Buyers will have more to choose from, forcing less desirable properties to adjust their price to attract the same level of attention. With rates only creeping up slightly, buyers will still be scrambling to invest. Marin's strong schools also keep it more insulated from market changes than other Bay Area communities. However, it should be noted that we may be facing a different level of demand early next year. These next 2-4 months will tell us a lot of about which direction the market is headed.