Marin's Most Expensive Homes

In 2015, Marin County once again broke real estate records when multiple historic homes went on the market and were promptly scooped up for mind-blowing prices. A considerable number were on Golden Gate and Belvedere Avenues in Belvedere, including the piece de resistance.

Below are the top 10 most expensive homes sold in Marin County last year.

# 10. 44 Golden Gate Avenue, Belvedere Sale Price: $7.89 million and a stunning waters-edge view of the City and Golden Gate Bridge

#9. 1910 Straits View Avenue, Tiburon Sale Price: $8.19 million

Photo credits: Jason Wells Photography

#8. This stunning home at 44 Makin Grade in Kentfield sold for $8.96 million.

Photo credits: Jason Wells Photography

#7. Nestled against the hills, 12 Canyon Road in Ross went for a cool $9.3 million.

#6. This modern home at 1925 Straits View Avenue in Tiburon sold for $10.1 million.

#5. With views across the Bay of the City lights, 1 Cliff Road in Belvedere claimed a sale price of $10.5 million.

#4. Another beauty on Golden Gate in Belvedere. This one sold for $10.5 million.

#3. Tucked in a secluded spot on the water, this property at 125 Belvedere Avenue in Belvedere went for $13 million.

#2. Another majestic mansion on Belvedere Avenue set on its own private cliff overlooking the Bay. This one commanded $15.49 million.

#1. And at the top of Marin's most expensive homes sold in 2015 is Locksley Hall at 440 Golden Gate Avenue in Belvedere. Price tag? $47.5 million.

Marin Market Update for February 2016

There was so much anticipation for 2016, “another banner year ahead for real estate!” But, what happened? Not to worry, there's still time for the market to heat up, but man was it dead in January. Not by sheer numbers sake, we did end up selling 126 homes and condominiums in Marin (compared with 115 in January of 2015), but there was just a feeling that nothing was happening. Nothing on the market, nothing to sell, buyers not awake yet from their holiday slumber... what was going on? 

Well, maybe it was a bit of a hangover from 2015. Perhaps it was the small interest rate increase by the FED. Maybe it was the stock market scare that had stocks plunging to record drops. Maybe it was the El Nino storms. Who knows? But, rest assured, the heat is back on and the market is just NOW getting going for 2016. Some people say it's "after the Super Bowl" when everything starts happening. This year, and maybe because the Super Bowl is in our own backyard, I'd say that may definitely be true. There's an energy out there – a frenzy descending on the paltry amount of inventory that has shown itself in January. There's an excitement about what's "coming soon" and let me tell you, everybody is ready to go.

Buyers are pre-approved and ready to pounce as soon as they see the home they like (or kind of like). Sellers are still pushing the market, wondering just how far they can take it from a price standpoint. Savvy buyers say “don't take it too far, ‘cause we ain't stupid!"

While mortgage rates are at the lowest they have been in eight months, they will eventually rise, inventory will remain tight, rental rates may also rise making housing feel like a better option, and experts expect slower growth of housing values at about 6% this coming year. We are seeing Gen-X’ers moving into prime wage earning years and enjoying their newly improved financial situation, perhaps new job opportunities, relocation, or even seeking out better neighborhoods for their growing families. In Marin we have the older boomers approaching — or already in — retirement and seeking to downsize or lock in a lower cost of living. Together, these two generations will provide much of the suburban inventory that Millennials will start to acquire. Sellers may finally be ready to put their homes on the market after a few years of equity building, and the realization that with interest rates on the rise, buyers may have less ability to pay top dollar as the year progresses.

There was very little to report as far as stats go this month (only 208 homes in Marin on sale at this writing). Few properties are currently on the market, and some have been sitting for quite some time. Perhaps price is the issue, perhaps there are some hidden defects, or perhaps nobody has come up with the right offer to charm the sellers, but I am happy to show them to you, so call me if you have some interest! Perhaps the sellers will entertain a lower offer, and perhaps this is the diamond in the rough for which you’ve been looking.

Are you looking to buy or sell a home in Marin? Contact us to find out how The Costa Group can help.