Marin County Market Update - November 2014 - www.YourPieceofMarin.com

Marin County Real Estate Market Update – November 2014

CALIFORNIA AND BAY AREA MARKET UPDATES

According to Dataquick’s December 16, 2014 Housing Report, sales of new and resale houses and condos in California were down 20.0 percent from sales in October 2014, and down 11.9 percent from sales in November 2013.

The November 2014 sales were the lowest for that month in seven years and the decline in activity from October was unusually sharp. However, the weak November sales tally is likely at least partially the result of a quirk of the calendar: There were only 17 days on which home sales could be recorded at county recorders’ offices this November, compared with 22 or 23 in October, depending on the county.

San Francisco Bay Area home sales also dropped to the lowest level for the month of November since 2008, the result of a limited number of homes for sale, cautious buyers and a challenging mortgage market.

MARIN MARKET SNAPSHOT

Marin was no exception with a sharp drop in sales of homes (all categories) from 211 in October 2014 to 184 in November, a 24.37 percent decrease. Compared to the past seven years however, we did not experience as steep a fall as the Bay Area overall: our lowest sales were in November 2008 at 137 and the highest were at 243 in November 2013. The dearth of inventory of homes offered for sale continued to plague our market, as sellers remain reluctant to put their home up for sale as they fear not being able to find a replacement property (to buy or rent.)

The Marin Market saw a bit of a late-year resurgence in terms of homes going in contract after laying the foundation for the “holiday hibernation” two months ago.  I am still seeing quite a bit of pent up buyer demand, including some spillover from San Francisco where buyers are suffering from sticker shock and an even more acute shortage of homes available. Late-year price reductions combined with well-priced new inventory provided these buyers with purchase opportunities and activity has been unusually high for the season. The number of homes in contract for the month of November closely resembled that of October despite a much smaller inventory.

This unseasonal buyer appetite has triggered competitive bidding and an increase in the median price of Marin County homes (all categories included) to almost $1 million at $975,000 in November compared to $786,000 in November 2013.

Here is a market snapshot for Single Family Homes only. Statistics in the remainder of this report are all for Single Family Homes as well.

 

Marin County Market Update - November 2014 - www.YourPieceofMarin.com

 

HOME SALES BY AREA

Sales volume in the top areas fell slightly month-over-month which is not uncommon with the holiday season in full swing. San Rafael and San Anselmo sales continued to stay relatively unchanged through November. Novato and Mill Valley sales fell by half as lack of new inventory, as mentioned above, continued to be an issue.

Marin County Market Update - November 2014 - www.YourPieceofMarin.com

 

PERCENTAGE OF HOMES IN CONTRACT

November’s inventory shortage was reflected in the percentage of homes in contract, with increases across the board. Corte Madera, Fairfax and Larkspur continued to show strong in the Marin market with over half of their respective inventories in contract for November.

Ross, Belvedere and Beach Cities saw slight increases month-over-month, which can be linked to a slowing period and as listings are temporarily withdrawn from the market.

Marin County Market Update - November 2014 - www.YourPieceofMarin.com

 

MARIN MARKET BY PRICE POINT

The under $1 million market segment continues to be the most active, but the $1 million to $2 million had almost the same number of sales in November. 64% of active Single Family Homes in Marin are under $2 million; they also represent 83% of November’s sales. Months of inventory remained relatively unchanged from the previous month.

 

Marin County Market Update - November 2014 - www.YourPieceofMarin.com

 

AVERAGE SALE PRICE

The Average List Price increased slightly month-over-month with the average sold price also rising. The Average Sales Price for November of $1,520,392 is 25% higher than the 2007 peak average.

 

Marin County Market Update - November 2014 - www.YourPieceofMarin.com

 

NUMBER OF HOMES LISTED AND SOLD

The number of Single Family Homes in Marin for sale in November 2014 fell month-over-month as is typically the case with the approach of the holidays. Sales were also down from the previous month and the same month in 2013.

 

Marin County Market Update - November 2014 - www.YourPieceofMarin.com

 

If you are thinking of selling your Marin County home in the spring, it is not too early to start preparing.  I would be happy to sit down with you and share market insights about your neighborhood and advice on how to prepare your home for market.

In the meantime, I wish you a wonderful Holiday Season and a Prosperous 2015.

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About the Author: The above Marin County Real Estate Market Update – November 2014 was provided by Sylvie Zolezzi.  I can be reached via email at Sylvie@YourPieceOfMarin.com or by phone/text at 415.505.4789.  I am a top producing, award winning Realtor specializing in luxury residential real estate in beautiful Marin County, just north of the Golden Gate Bridge.

I offer a wide range of real estate solutions for buyers, sellers and investors, attracting clients who demand excellence—in marketing, negotiations, market knowledge—and a genuine concern for their needs. My association with Decker Bullock Sotheby’s International Realty allows me to provide a high-end luxury experience to all my clients at every single price point. It also empowers me to leverage the unique combination of Sotheby’s global resources, Decker Bullock Sotheby’s International Realty’s growing market share and local knowledge with my unmatched social media networks to provide highly personalized service and unmatched exposure to my clients’ properties locally and worldwide.

I service all of Marin County’s beautiful towns: Sausalito, Tiburon, Belvedere, Mill Valley, Corte Madera, Larkspur,Greenbrae, Kentfield,Ross, San Anselmo, San Rafael, Fairfax, and Novato, with a special focus on Central Marin.


Marin County Property Taxes are due December 10, 2014

Marin County Property Taxes Due December 10, 2014

HAPPY HOLIDAYS! Just in case you have been having so much Holiday Fun and Cheer that you forgot about your Marin County Property Tax first installment being due tomorrow, December 10 by 5:00 pm, I wanted to provide you with a little reminder.

Marin County Property Taxes are due December 10, 2014
Civic Center – San Rafael, CA

HOW TO AVOID PENALTIES:

According to the County of Marin website, if you do not pay the first installment of your annual tax bill at the Tax Collector’s Office by 5 p.m. on December 10 or payment is not USPS postmarked by that time and date, then the taxes become delinquent and a 10% delinquent penalty (OUCH!!!) is added to the unpaid bill.

NOW DON’T PANIC! If you have not paid your Property Taxes yet, here is the link to make your payment online either via Credit Card of Electronic Funds Transfer using your checking or saving account:  http://www.marincounty.org/depts/df/onlinepayments

If you cannot access a computer, you can also pay by phone. To access this service, call 1-800-985-7277 from any touchtone phone within the continental United States. This service is available 24 hours a day, 7 days a week, OR until 5:00 P.M. on the property tax deadline date, i.e. tomorrow December 10.

A credit card or checking/savings account number with a routing number and a tax bill number are required to complete the transaction.  If you don’t have your tax bill number, you can get it if you have your APN (Assessor’s Parcel Number.)

During the call, you will be informed of a convenience fee charged by the provider before the transaction is actually completed. The amount of the credit/debit card convenience fee is pretty steep at 2.5% of the total transaction amount. For Electronic Funds Transfers (EFT) the fee will be $1.95 per transaction. You may hang up at any time prior to receiving a confirmation number and you will not be charged.

The website points out that the convenience fee is not a Marin County fee. It is retained by the Service Bureau. It will show as an additional charge on your next credit card statement.

Please note I am providing this information as a courtesy and cannot guarantee its accuracy. Make sure to visit the County of Marin website for more details and to verify this information.

Happy Holidays and I hope this post was a helpful reminder for you!

Feel free to contact me with any real estate questions if you are thinking of buying or selling real estate in Marin County.

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White glove service - www.YourPieceofMarin.com by Sylvie ZolezziAbout the Author: The above Real Estate information on Marin County Real Estate was provided by Sylvie Zolezzi.  I can be reached via email at Sylvie@YourPieceOfMarin.com or by phone/text at 415.505.4789.  I am an award winning Realtor specializing in luxury residential real estate in beautiful Marin County, just north of the Golden Gate Bridge.

I offer a wide range of real estate solutions for buyers, sellers and investors, attracting clients who demand excellence—in marketing, negotiations, market knowledge—and a genuine concern for their needs. My association with Decker Bullock Sotheby’s International Realty allows me to provide a high-end luxury experience to all my clients at every single price point. It also empowers me to leverage the unique combination of Sotheby’s global resources, Decker Bullock Sotheby’s International Realty’s growing market share and local knowledge with my unmatched social media networks to provide highly personalized service and unmatched exposure to my clients’ properties locally and worldwide.

I service all of Marin County’s beautiful towns: Sausalito, Tiburon, Belvedere, Mill Valley, Corte Madera, Larkspur,Greenbrae, Kentfield,Ross, San Anselmo, San Rafael, Fairfax, and Novato, with a special focus on Central Marin.