Prices increased here in "the Hollow" even as inventory decreased.
This past month 1359 Butterfield sold for $3,300,000 which is a record for this part of the 'hood'. There were two offers.
Shortly,1360 Butterfield is going to come on the market for $2,900,000. It was purchased last year for $,1515,000 and is now rolling out with added square footage and a whole new look. Think: Restoration Hardware meets Sunset Magazine. (Let me know if you want a sneak peak.)
As of this writing only three homes have sold in Sleepy Hollow since the first of the year. By this time last yeear, six homes had sold. This is the story all over Marin right now. Inventory has been down, sales have been down and prices were trending up. I say "were" because while homes are selling for record high prices both in the Hollow and elsewhere, there is a feeling here in Marin that prices are on the verge of correcting. In the past seven days, 20 homes had their prices reduced.
Case in point, 71 Holstein, a lovely Mediterranean on one of my favorite streets in San Anselmo (on the border with Sleepy Hollow), went on the market April 15. It started at $,1350,000. They reduced the price April 27 to $1,195,000.
I suspect that prices were just too high across the board and we are going to see some mild corrections this Spring.
So, if you are thinking of buying this year, take advantage of what will likely be the most inventory at one time that you are going to see for a while. Worried that prices are too high? Don't sideline yourselves. Rather, consider the possibility that that home you really like, may sell for less than it is listing for. Call me to discuss which areas and or architectural features appeal to you.