Seasons Greetings to you and your family. I hope you are staying safe and enjoying the holiday season with those closest to you!
As we approach the end of 2020 and I reflect back on this extraordinary year, I am extremely grateful for my family, friends and the support of my wonderful clients, who gave me the opportunity to serve them this year. I sincerely wish you all a wonderful holiday season filled with love and gratitude.
Market Dynamics in the Pandemic
As a general rule of thumb, the industry deﬁnes the "luxury home" segment as properties listed or selling for $3 million+ in San Francisco, Marin, SanMateo & Santa Clara Counties, and for $2 million+ in other Bay Area Counties (and for SF luxury condos and co-ops). After the initial impact of the pandemic subsided in early summer, overall sales remained about the same year over year. Luxury home sales, though, jumped over 50% as afﬂuent buyers have firmly stepped into the market. This has increased overall median home sales prices. The below charts illustrate the seasonality of the luxury home market, however the pandemic largely up-ended “normal” seasonal trends of supply and demand in 2020.
Norcal Luxury Market Report Can Be Found Here
The market typically slows down in mid-November until it begins to re-emerge in mid-January. New listings and sales drop and existing listings are pulled off the market. Higher-price segments normally see the most dramatic plunges in mid-winter activity. This year, the pandemic upended seasonality: Spring, usually the strongest selling season, saw a crash in activity; Summer, which typically slows down saw extremely high demand - particularly at the high end of the market. However, some counties, including Marin, were temporarily impacted by the terrible fires. Q4 is seeing a slowdown, but the market remains more active than in past years.
The long-term median sales price chart below for Marin is similar to those in counties around the Bay Area which all saw a significant spike in median home prices since the pandemic struck in early spring. Marin, though, has seen a more dramatic increase than most. Recent jumps in median house prices have been driven not only by appreciation in fair market values, but by large increases in expensive home sales. Affluent buyers have made up a significantly larger percentage of Marin and Bay Area
home purchases since the pandemic hit.
DID YOU KNOW?
Fueled by low interest rates and a historic housing shortage, California’s median home price in September reached $712,430, closing out four straight months of record highs. (NY TIMES)
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Welcome to one of Mill Valley's finest estates showcasing stunning pano views of the SF skyline & the hills of Marin from almost every room! This designer showcase is perfect for the most sophisticated homeowner. Flooded in natural light & with five bedrooms & five & a half bathrooms, offering scale & elegance with a relaxed California indoor/outdoor lifestyle, providing a perfect opportunity for both living & working from home in luxury.
Originally built in 1906 this charming property offers incredible privacy above the wonderful street of Throckmorton as well as the convenience of a short stroll to downtown Mill Valley! Offering brick pathways and front patio, deck off upper level and pretty gardens to plant and relax amongst. This property is currently used a duplex with two bed/one bath up and one bed /one bath down. Very special property offering an income property as is, or an opportunity to redesign.
Mill Valley Country Club living with 4 beds, 2.5 baths, sun-drenched canyon views, wonderful and functional indoor/outdoor flow on an expansive flat lot, kitchen breakfast nook, expansive family room plus open living and dining space. Many upgrades including new roof, Tesla solar panels and whole-house backup battery, double-paned windows, new pipes and plumbing, hardwood floors, plentiful custom storage and modern master bath remodel. Full exterior remodel designed for entertaining and usable play space!
Exquisite contemporary home w/180+ degree breathtaking views of Tam Valley, Richardson's Bay, Tiburon, East Bay & Mt. Diablo from all main rooms. Dramatic custom built home offering exceptional quality throughout. Large open living room w/vaulted ceilings & walls of glass! Large deck spanning the width of the house. Large remodeled kitchen, formal dining room, lounge/office, separate family room with fireplace & powder room. Five spacious bedrooms plus a solarium/yoga room. Two car garage and excellent outdoor space includes expansive decking in the front and rear of the house, flat lawn area w/beautiful terraced landscaping & space for a vegetable garden! Easy commute to SF!
I am a trustee with the Marin Chapter of the Awesome Foundation. Each month we expect to provide a $1,000 grant to support projects which addresses educational and/or community needs and are ingenious, creative and collaborative. We aim to spark dialogue, elevate unique opportunities, deepen conversations and provide community-wide benefits. We are looking for creative individuals to support with our grants, so please view our website and submit your requests online. Feel free to email or call me with any questions &/or if you want to get involved too!
I continue to be busy working with my clients prepping their homes for market in 2021 and helping them find their dream homes. Please reach out
anytime if I can be helpful to you!