It is my pleasure to assist clients with real estate purchases and sales throughout Marin County and adjoining areas but, as a resident of San Anselmo (only a block or so from Downtown), my particular interest is in this very special area of Marin. I often write about restaurants or local events, but today, since we are in the midst of the spring selling season, wanted to follow up on last month's report on San Anselmo home prices.
Our previous report focused on the first four months of 2016, noting that 37 Single Family Residences (SFR) and 3 Condos sold during the period. Let's take a look at the similarities and differences. When we compare statistics from the first 29 Days of May, we see that 13 SFR's and 1 Condo sold during the period. (Regarding the 1 condo sold, it was only technically a condo and more closely resembled an SFR so any comparisons to condo sales in the earlier period are not statistically significant.)*
SFR 5.1-5.29.16 13 Sales During the Month
Average List Price $1,147,692 vs. $1,152,222 on 4.30.16
Average Sold Price $1,227,385 or 6.9% over asking vs. $1,174,276 or about 1.9% over asking on 4.30.16
Average Days on Market 23 vs. 44 on 4.30.16
Average Square Feet of Home 1882 vs. 1827
Average $/SF $652.17 vs. $642 on 4.30.16
Condo * (See note Above) 5.1-5.29.16 1 Sale During the Month
Average List Price $775,000
Average Sold Price $850,000 or 9.6% over asking
Average Days on Market 46
Average Square Feet of Home 1397
Average $/SF $608
Prices of SFR's in dollars per square foot remained fairly stable, but, in May, the average SFR sold for 6.9% over asking compared to only about 1.9% in the first 4 months of the year. This is an indication of continuing strong demand and brisk competition among buyers vying for a limited number of available homes, a scenario that is currently familiar throughout Marin and much of the Bay Area. It is a great time for sellers, who usually find that their homes sell quickly for very attractive prices. Buyers, however have been finding the going a bit rough. Some become fatigued and drop out after losing out on one or more homes.
I have written several earlier blog posts with tips for buyers, but the formula for success involves preparation, patience, and persistence. There is always another home about to come on the market. Contact me for specific steps to be successful in this market, whether you are buying or selling; I'm looking forward to hearing from you!