Steve Dickason, VP and Marin manager of Alain Pinel Realtors did a state of the market presentation at the ‘Let’s Make A Deal’ county-wide monthly marketing presentation hosted by Bill McKeon. Steve noted that with interest rates as low as they’ve ever been in his 80-something years in real estate (my how time flies) … the advantage goes to move up buyers because the lower range homes (under $1M) are selling well and the upper range priced homes are still in a ‘buyers’ market situation. There are deals to be created. Now is a great time to buy some extra space, amenities and joyous living.

Curiosity knocks … so I popped up the handy-dandy MLS and using the multiple listing statistics explored sales in the $1M to $2M and $2M to $3M price ranges, comparing the past six months of 2009 with the same period in 2010.

First, the $1M to $2M price range: Of the 363 homes on the market in Marin County, 301 are active and available and 62 are in escrow. Of those in escrow 17 are ‘awaiting the moving van, pending, do not show.’ Over the past six months 221 similar homes have sold (37 per month!) at an average per square foot price of $523. Compared to the same six months in 2009, sales are up nearly 50% (156 sales, $550 per square foot).

Next, the $2M to $3M price range: Of the 115 homes available, 101 are active and available and 14 are in escrow … with four simply awaiting the moving van. In the past six months there have been 62 sales (including eight in Belvedere), which is more than twice the number of sales in the similar six months of 2009. Incidentally, the average price per square foot in this price range is much higher (higher quality finishes cost money) by nearly 50% … last year the average was $700 per square foot, this year $725.

A bit of perspective: Adding to the list of homes that did not sell last year but just sold, 4 Snowden Lane, a beautiful four bedroom home on two acres in Fairfax was sold by Kathleen Clifford of Pacific Union-Morgan Lane and Rick Stern of First Marin … last sold in 2002 for $1,195,000 it closed escrow at $1,250,000 ($398 per square foot!).

And a bargain: 180 Avenida Miraflores, Tiburon was previously on the market but did not sell at $3.5M. It came back, listed by Emy Cosio-Barron of Frank Howard Allen and just recently closed escrow at … can you believe it? … $2.4M (buyers represented by M&M Team, Margaret Monaco and Tina McArthur). At $639 per square foot this five bedroom home was a great buy.

Sales in the upper end are increasing as buyers are recognizing value and taking advantage of the move up opportunities. So think, then act … you’ll appreciate the quality you will add to your life with a little more space and a few bells and whistles.

I love good stories, so continue let me know of your success and homes that you see as great buys … then let’s go get new owners.

Remember, when it’s time to buy, let’s put the real in REAL estate … contact me at www.tomverkozen.com or dial me up and let’s work together to enjoy the opportunities.

Posted by:  Tom Verkozen