Marin County Real Estate Market Update – June 2015

MARIN MARKET SNAPSHOT

As we hit the half way point in the year, Marin County’s real estate market seems to have slowed down a little, as is typical after school is out and we enter into the summer vacation period.

So far, during the first six months of the year, Marin has had fewer new listings of single family homes (1,449 in 2015 vs. 1,644 in 2014) and fewer sales (1,093 in 2015 vs. 1,119 in 2014) than last year for the same period.

Luxury Condominiums in Tiburon, CA
Luxury Condominiums in Tiburon, CA

Marin County’s residential inventory, while still low relative to the average number of homes available for sale in the past, has been steadily increasing, up 8% from last month, but remains lower than last year, down 12% compared to last June. In my April 27, 2015, I had covered the 10 Reasons for Low Housing Inventory in Marin County, including lack of buildable lots, little new construction and sellers moving within the County worrying about not finding a replacement property. These factors have not changed since April, and I expect our inventory will remain low for the foreseeable future.

Closed sales in June were down 4% from last month and 15% compared with June of last year. The lower sales number can be blamed on the limited inventory as many buyers are struggling to find homes to buy in Marin.

While in some markets in other parts of the country average sale prices have not completely caught up with the peak prices of 2007, here in Marin our average sales price for single family homes of $1,404,047 is 15 percent higher than the peak price of $1,220,000. Again, our limited inventory and severe imbalance between supply and demand play a large role in driving our prices up. It is important to remember however that buyers are very savvy and knowledgeable about home values. As a result only the homes that are well priced and well presented garner multiple offers and sell for prices sometimes significantly over the list price.

Mortgage interest rates remain historically low, and while they are up slightly compared to last month, they are down compared to one year ago.

30-Year Fixed Conforming ($200,000 – $417,000): 4.125%
30-Year Fixed Conf-Jumbo ($417,001 – $625,500 cap by county): 4.250%
30-Year Fixed Jumbo ($625,501 – $2,000,000):  4.000%
7/1 ARM Jumbo:  3.625%
FHA 30-Year Fixed: 3.750%
(All pricing above at 0 points.)

However, according to the majority of economists surveyed by Bloomberg in July, the economic outlook will be bright enough for Fed officials to announce an interest-rate increase at their September meeting.

 Marin County Real Estate Market Snapshot - Single Family Homes through June 2015 - www.yourpieceofmarin.com by Sylvie Zolezzi

HOME SALES BY AREA

The number of homes sold in Marin County decreased just slightly month-over-month overall, although the sales for Beach Cities, Greenbrae, Larkspur, Novato, San Rafael and Tiburon increased.

Marin County Market Upate - Single Family Home Sales by Area - www.yourpieceofmarin.com by Sylvie Zolezzi-

HOMES IN CONTRACT

For the month of June, Fairfax has garnered the top spot for the highest percentage of homes in contract at 65%, a 20% increase month-over-month. Percentage of homes in contract in both Corte Madera and Belvedere also increased exponentially with a 78% growth in Corte Madera and a 191% growth in Belvedere month-over-month.

Marin County Market Update - Percentage of single family homes in contract - June 2015 - www.YourPieceofMarin.com by Sylvie Zolezzi

AVERAGE SALES PRICE

The average sale price of homes sold in Marin decreased slightly in the month of June, staying around $1,400,000.

Marin County Market Update - Average Listed and Sold Price for Single Family Homes - June 2015 - www.YourPieceofMarin.com by Sylvie Zolezzi

MARIN MARKET BY PRICE POINT

The number of active listings across all price point categories showed an increase month-over-month with the exception of the $2m-$3m, $5m-$7m, and $7m-$10m ranges. The largest increase of active listings in Marin County month-over-month occurred in the under $1m range growing by 9 active listings.

Marin County Market Update - Single Family Homes Sales by Price Point - June 2015 - www.YourPieceofMarin.com by Sylvie Zolezzi

NUMBER OF HOMES LISTED AND SOLD

The number of single-family homes sold in Marin decreased slightly in June while the number of homes for sale increased. Neither the decrease in homes sold nor the increase in inventory for the month is dramatic, keeping the summer months consistent so far. Competition is still present among buyers in Marin County across all price points but most significantly in the $3m and under range.

Marin County Market Update - Single Family Homes Listed and Sold in June 2015 - www.YourPieceofMarin.com by Sylvie Zolezzi

If you are considering selling, let’s strategize on how to prepare and price your home for maximum returns. If it’s time to buy, let me know so I can give you the inside scoop on each neighborhood that may be right for you. In the meantime, have a wonderful summer.

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White glove service - www.YourPieceofMarin.com by Sylvie ZolezziAbout the Author: The above Marin County Real Estate Market Update for June 2015 was provided by Sylvie Zolezzi. 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 innovative and comprehensive 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 would welcome the opportunity to show you how I consistently get outstanding Real Estate results for my clients. I can be reached via email at Sylvie@YourPieceOfMarin.com or by phone/text at 415.505.4789. 

 

 


Design Friday – DIY Upgrades That Will Transform Your Bathroom

For the second installment of my new Design Friday feature, guest blogger Danielle Hegedus of Modernize.com offers great suggestions to upgrade your bathroom. Whether you are thinking of selling your Marin County home or not, these easy upgrades will enhance the value of your home.

When people think bathroom upgrades, they typically think of the expensive stuff–new tubs, porcelain tile, luxury showers. However, there are lots of inexpensive projects that you can do yourself, sometimes in just a weekend, that will truly transform the look of your bathroom. The bathroom may be the smallest room in your home, but that just means it’s even easier to give it a little extra TLC!

Make the Walls More Interesting

Since the bathroom is typically such a small space, you should really feel empowered to take decorating chances. If you can’t live with the olive green walls that you once thought were so chic, it won’t take much effort to get back to a more neutral color. I once had a hot pink bathroom! You may not want to go that far, but think about painting the walls a color that you really like, but may be a little overwhelming in a larger space. If you want to keep your options open, you can also try removable wallpaper. It has an adhesive backing and goes on in manageable sheets. To remove, just wet with a sponge and remove.

Adding texture to your walls - www.YourPieceofMarin.com

 Via Modernize

Wood bead board is also a great way to add texture to your walls and it is very easy to install. For directions on how to put bead board up yourself, check out the DIY Network. In just a few hours, your bathroom will have the crisp look of a seaside cottage.

 Bead board in the bathroom - www.YourPieceofMarin.com via Modernize.com Via Modernize

You have artwork throughout the rest of your home, why neglect the bathroom? A few framed pieces can really pull the room together, and if you do decide to go with a neutral wall color, your artwork will inject some color into the room.

 

Artwork adds interest in the bathroom - www.YourPieceofMarin.com

  Via Modernize

Get some height

Raise your shower curtains all the way to the ceiling: it will make the room feel much larger and the curtains look very dramatic. Visit Go Haus Go’s informative blog to find out how to raise your curtains and check out some really great curtain prints. You can add a big design element into the room with your shower curtain and you have the flexibility to change it whenever you like.

Add an element of style to your bathroom with a fancy shower curtain - www.YourPieceofMarin.com

 Via Modernize

Incorporate Storage That Works For You

Don’t leave your makeup, blow-dryer, and medications on display for anyone that uses your bathroom. Install a storage solution that can keep all of your toiletries out of sight and organized. Floating vertical shelves are a great option when you are lacking floor space. Bathroom storage is also something you should prioritize if you are short on linen closets.

Adding storage in the bathroom - www.YourPieceofMarin.com

 Via Modernize

Frame or Customize Your Mirror

There is nothing more boring than the standard contractor installed bathroom mirror, held up by the clear plastic mounts. It adds no style to the room. Framing your mirror, or adding a custom mirror, creates a much more polished look and brings your sense of style into the room. Here is a step-by-step tutorial to help you frame your bathroom mirror.

mirror

  Via Modernize

Replace Your Vanity or at Least Paint It

Your vanity is the only real piece of furniture in your bathroom. If it is in good shape and meets your storage needs, consider painting it. I prefer to check out antique stores and flea markets for more unique finds. My bathroom vanity is an antique butcher table. If you are fairly handy, Made + remade has a great blog with lots of DIY vanity suggestions that you should check out.

Replace or repaint your vanity - www.YourPieceofMarin.com via Modernize

  Via Modernize

Still Can’t Get Past Your Ugly Tub? Camouflage It!

The tub in my home is maroon. It is so ugly. Sometimes I feel like no matter what I do to make the bathroom look nicer, once the curtain is pulled back, all that ugliness comes rushing back. I’ve investigated painting the tub, but it doesn’t seem like a good long-term solution for me. Until I am ready to buy a new tub though I definitely camouflage it.

You’re already a beadboard expert, right? Why not extend the beadboard to the side of your tub. This could be a great way to upgrade a tub that has seen better days.

 camouflage Via Modernize

For additional inspiration, make sure to check my Pinterest Account, especially the Bathroom Boardthe Powder Room Boardthe Mirrors Board, the Wall Treatment Board and the Patterns and Prints in Interior Design Board.

If you are considering selling, let’s strategize on how to best prepare and price your home for maximum returns. It it’s time to buy, let me know so that I can give the inside scoop on each neighborhood that may be right for you.

In any case, thanks for stopping by, I hope my Design Friday posts will inspire you to create an interior that you love, improve the aesthetic quality of your life and help you increase the value of your home.

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About the Author: The above Real Estate information on Marin County Real Estate was provided by Sylvie Zolezzi. 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 innovative and comprehensive 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 would welcome the opportunity to show you how I consistently get outstanding Real Estate results for my clients. I can be reached via email at Sylvie@YourPieceOfMarin.com or by phone/text at 415.505.4789.