May 25, 2018
The Marin luxury market is alive and well. Last month I mentioned that there was an increase in inventory in the higher price ranges, and that continues to be the case. The new news is that luxury homes are selling at an average of 96.27% of the sales price. Most Agents are pricing more carefully this year and are trying not to over-inflate value. I’m guessing you have witnessed or heard of homes that enter the market at really high prices, and as the months roll by, the price just keeps going down until - finally – it’s priced accordingly and it sells. Pricing authentically works wonders for getting the highest and best price in the shortest amount of time.
This April 2018, 18 homes SOLD over $3M, with 10 homes Pending (meaning all the Contingencies have been removed and they are just waiting to fund and close escrow),and 8 homes are Contingent (going through inspections loan approval, etc.). Of the 16 luxury homes SOLD in April of 2017, the average sales price was $3,916,000 and this year, of the 17 luxury homes SOLD, the average sales price is $4,793,000.
This is a great year to sell!