The Scoop on Larkspur Real Estate – July 2017

The Scoop on Larkspur Real Estate - July 2017

 

I am pleased to report that there has been more activity in the Larkspur real estate market this spring and summer than in the recent past. Larkspur remains one of the most desirable destinations in Central Marin, thanks to its easy access to 101, warm climate, award winning schools and close proximity to its newly expanded downtown with new high end boutiques and eateries. As such, our real estate has been selling for much higher prices of late. Since January 1, 2016, 34 out of 81 homes sold in Larkspur fetched a price of $2 million or above. In July 2016, 215 Alexander Avenue sold for $5,525,000–an all time record for Larkspur. Newly constructed in 2016, the 5,400 square foot, 5 bedroom 5.5 baths home situated on a street to street lot in the sought after flats offers great indoor outdoor living, high quality materials and top of the line finishes, and Mt. Tam views.

 

The Scoop on Larkspur Real Estate - July 2017
215 Alexander Avenue sold for $5.525,000 in July 2016

1.Market Snapshot

In the first half of 2017, we’ve had more new listings, more properties going in contract and more sales than last year! Here is a comparison of the first half of 2017 with the first half of 2016 for single family homes in Larkspur.

It is important to note that because we have such a small number of sales in Larkspur, the average sale price is greatly affected by the mix of properties, with one very low or very high sale skewing the numbers. The median sale price paints a more accurate picture of what is happening as it represents the sale with the same number of sales at lower and higher prices. The average price per square foot can also be a good metric to watch to track market trends, even though it is not a perfect tool.

The Scoop on Larkspur Real Estate - July 2017

2.The Scoop on Market Activity 

For Sale, Sold and Pended (In Contract)

Median Sale Price 

As mentioned above, because the number of properties sold in Larkspur every month is so small, I am sharing the median price chart rather than the average price chart. The median price is not skewed by the mix of properties sold as much as the average sales price is.

Average Price per Square Foot

The average price per square foot has been higher in 2017, reaching its highest point in June at $938.

3.What’s for Sale and What Just Sold

Active Listings:

The Scoop on Larkspur Real Estate - July 2017
123 William Avenue, Larkspur – Photo Courtesy of Pacific Union International
The Scoop on Larkspur Real Estate - July 2017
130 Elm Avenue, Larkspur, CA – Photo Courtesy of Golden Gate Sotheby’s International Realty

There are today, as of this writing on July 15, 8 active listings ranging from a 688 square foot one bedroom/one bath fixer at 123 William Avenue listed at $800,000 to a 4,280 square foot totally renovated five bedroom/five bath home at 130 Elm Avenue listed for $4,500,000.

Contingent Listings (offers accepted, contingencies not yet removed)

The Scoop on Larkspur Real Estate - July 2017
14 Chevy Chase Court, Larkspur, CA – Photo Courtesy of Golden Gate Sotheby’s International Realty
The Scoop on Larkspur Real Estate - July 2017
11 Ardmore Road, Larkspur, CA – Photo Courtesy of Golden Gate Sotheby’s International Realty
The Scoop on Larkspur Real Estate - July 2017
52 Murray Avenue, Larkspur, CA – Photo courtesy of Paragon Real Estate Group

There are 4 contingent listings, including two quintessential Larkspur homes in the Chevy Chase neighborhood, tucked under a redwood grove: 14 Chevy Chase Court and 11 Ardmore Road, both listed at $1,595,000 by Golden Gate Sotheby’s International Realty. One of my very favorite homes in Larkspur is also contingent: 52 Murray Avenue, a stunning Craftsman listed at $4,450,000. It will be interesting to see how much it sells for as it had sold in October 2015 for $4,450,000.

Pending Listings (all contingencies have been removed):

The Scoop on Larkspur Real Estate - July 2017
106 William Avenue, Larkspur, Ca – Photo Courtesy of Pacific Union International
The Scoop on Larkspur Real Estate - July 2017
25 Witlshire Avenue, Larkspur, CA – Photo Courtesy of Coldwell Banker

There are five pending listings. The highest priced is 106 William Avenue, a newly constructed 2,392 square foot home with 3 bedrooms and 4 baths. 25 Wiltshire Avenue, a gem situated in the Chevy Chase neighborhood, offering total privacy within a few minutes of downtown, is also pending. Their list prices are $2,850,000 and $1,995,000, respectively.

Recent Sales

In the first half of the year,  35 single family homes sold in Larkspur ranging in price from $840,000 to $3,800,000. A few noteworthy sales include:

The Scoop on Larkspur Real Estate - July 2017
422 Alexander Avenue, Larkspur, CA – Photo Courtesy of Pacific Union International

422 Alexander Avenue sold for $3,100,000 at 110.91% of its offer price of $2,795,000. The Spanish style home received 6 offers and fetched the highest price per square foot at $1,477.60.

The Scoop on Larkspur Real Estate - July 2017
273 Riviera Circle, Larkspur, CA – Photo Courtesy of Zephyr Real Estate

273 Riviera Circle sold for $3,400,000 at 117.44% of its list price of $2,895,000. The 3,708 square foot, 4 bedroom 3.5 bath waterfront property received four offers.

The Scoop on Larkspur Real Estate - July 2017
49 Holly Avenue, Larkspur, CA – Photo Courtesy of Pacific Union International

49 Holly Avenue sold for the highest price so far this year at $3,800,000 or 92.68% of the list price. Built in 2000, the 3,960 square foot home has 5 bedrooms and 3.5 baths and is located in a prime location in very close proximity to charming downtown Larkspur.

The Scoop on Larkspur Real Estate - July 2017
7 Heather Way, Larkspur, CA – Photo Courtesy of Golden Gate Sotheby’s International Realty

I liked 7 Heather Way, a 2,205 square foot classic Kraftsman rebuilt like new with 4 bedrooms and 3 baths. It sold for $2,500,000 or 116.33% of its list price of $$2,149,000.

You may have driven these three homes that sold on Magnolia Avenue, here is the scoop on what happened:

The Scoop on Larkspur Real Estate - July 2017
223 Magnolia Avenue, Larkspur, CA – Photo Courtesy of Pacific Union

223 Magnolia Avenue, one of my favorites. The small, iconic cottage with 3 bedrooms and 1 bath at the corner of Madrone sold for $1,650,000 or 104.76% of its list price of $1,575,000. It received two offers.

The Scoop on Larkspur Real Estate - July 2017
27 Magnolia Avenue, Larkspur, CA – Photo Courtesy of Golden Gate Sotheby’s International Realty

27 Magnolia Avenue, at the corner of Wiltshire Avenue. This three bedroom, 2 bath home received three offers and sold for $1,700,000. The list price was $1,695,000.

The Scoop on Larkspur Real Estate - July 2017
577 Magnolia Avenue, Larkspur, CA – Photo Courtesy of Pacific Union International

Finally, 577 Magnolia sold after several price reductions for $2,125,000. The 3,414 square foot house has 4 bedrooms and 3.5 baths and is located in the heart of downtown Larkspur, right next to the Lark Theater.

Here is the full List of Single Family Homes sold in the first half of 2017.

For more information on the Larkspur real estate market, and to get a free, no string attached valuation of your Larkspur property, feel free to reach out to me. I have lived in Larkspur for over 20 years and absolutely love it. I am very familiar with the Larkspur real estate market and will be happy to answer any of your questions. Like my LiveinLarkspur Facebook Page  to keep up with what is happening in our community and our real estate market. Click here for my Larkspur Real Estate Web Page.  And if you would like to keep up with the Marin County Real Estate Market visit my Marin County Real Estate Market Update Page. I publish a detailed report every month.


About the Author: The article The Scoop on Larkspur Real Estate – July 2017 was written by Sylvie Zolezzi. I live in Marin, work in Marin and LOVE Marin!!! I am an award winning, top producing 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 intelligence—and a genuine concern for their needs. My association with Golden Gate 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, Golden Gate 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 work with you. I can be reached via email at Sylvie@YourPieceOfMarin.com or by phone/text at 415.505.4789.