Southern/Central Marin County Real Estate Report July 2018

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Two economic issues currently in the U.S. may impact the Bay Area housing market. The first is the mounting trade wars with China, Europe, Mexico and Canada. The second is rising interest rates (2 more are planned by the Federal Reserve Bank but with inflation rising there is talk of a third), tightening monetary policy and the converging yield curve, the latter of which has been a recession indicator in the past and is receiving a lot of press attention.

In Marin, at this point, housing sales are still strong but prices show some signs of weakening.

The number of new single family homes that came on the market in June was the lowest for that month in the past 10 years. And, with the number of sales not declining, inventory stayed at the very low level of just 1.4 months. Prices, however, have risen just 1% over the past year.

Likewise, very few new condo/ townhome listings came on the market in June – half as many as in the preceding two Junes. Again, like single family homes, inventory is incredibly low at 1.1 months. Sales prices have been strong – up 18% year-on-year.

Single Family Homes:
The three-month rolling average median sales price of $ 1,515,000 is up 1% from last year.

Year-to-date, new listings are down 3.4% while sales are up 2.7%.

June’s inventory of 1.4 months is 4.8% higher than in 2017.

The median percent of list price received was 98% in June

Condo/Townhomes:
The three-month rolling average median sales price of $777,333 is up 18% over last year’s.

Year-to-date, new listings are down 5.2% while sales are down 3.5%.

June’s inventory of 1.1 months is % lower than in 2017.

The median percent of list price received was 101% in June.

Napa Valley Real Estate Report July 2018

Two economic issues currently in the U.S. may impact the Napa housing market. The first is the mounting trade wars with China, Europe, Mexico and Canada. The second is rising interest rates (2 more are planned by the Federal Reserve Bank but with inflation rising there is talk of a third), tightening monetary policy and the converging yield curve, the latter of which has been a recession indicator in the past and is receiving a lot of press attention.

In Napa, at this point, housing sales are still strong in terms of price, but there have been fewer single family home sales than in the past four years. New listings are fewer than in any of the previous 10 years.

Single Family Homes:
The three-month rolling average median sales price of $728,333 is up 6.1% over last year’s.

Year-to-date, new listings are down 3.4% while sales are down 6.5%.

June’s inventory of 2.2 months is 1.5% lower than in 2017.

The median percent of list price received was 99% in June.

Condominium/Townhomes:
The three-month rolling average median sales price of $485,333 is down 1% over last year’s.

Year-to-date, new listings are down 17% while sales were down 11%.

June’s inventory of 1.6 months is double what it was in June, 2017.

The median percent of list price received was 99% in June.

Napa Valley Real Estate Report June 2018

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Napa’s May single family homes sold prices were pretty much unchanged from April’s ($724,000 vs. $725,000) and still show a healthy 5.3% increase over last year’s prices.

The number of new single family home listings on the market year-to-date is the lowest in three years: 472 -> 430 -> 410.

Sales are also down, by 10%. Condo/townhome listings year-to-date are the lowest in three years as are the number of sales.

Single Family Homes:
The three-month rolling average median sales price of $715,00 is up 5.3% over last year’s.

Year-to-date, new listings are down 4.7% while sales are down 6.7%.

May’s inventory of 2.5 months is 9.7% lower than in 2017.

The median percent of list price received was 97% in May

Condominium/Townhomes:
The three-month rolling average median sales price of $452.667 is down 10% over last year’s.

Year-to-date, new listings are down 13% while sales were down 8.5%.

May’s inventory of 1.9 months is 12% lower than in 2017.

The median percent of list price received was 98% in May.

Southern/Central Marin County Real Estate Report June 2018

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May’s median sold price in Southern/Central Marin reached a new high – $1,625,000, although the three month rolling average showed no appreciation compared to the same time frame in 2017. The prior year’s appreciation was 14%, so this is a notable cooling of the price rises.

The number of new listings year-to-date is the lowest in three years while the number of sales is the highest in three years. So, to no one’s surprise, inventory is incredibly low, just 1.5 months.

Condo/townhome sold prices rose a healthy 19% in the past year but it’s a relatively low number of sales so that statistic could be a bit misleading.

Single Family Homes:
The three-month rolling average median sales price of $ 1,524,333 is virtually unchanged from last year’s.

Year-to-date, new listings are down 2.4% while sales are up 1.7%.

May’s inventory of 1.6 months is 5.6% lower than in 2017.

The median percent of list price received was 100% in May

Condo/Loft/TIC’s:
The three-month rolling average median sales price of $778,333 is up 19% over last year’s.

Year-to-date, new listings are down 1.0% while sales are down 6.5%.

May’s inventory of 1.3 months is 2.2% lower than in 2017.

The median percent of list price received was 99% in May

Napa Valley Real Estate Report April 2018

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In Napa, April saw prices continue to rise for both homes and condos and inventory continue to decline. And although there has been a lot of news around the Federal Reserve raising interest rates, mortgage rates are up only 0.5% since December, at approximately 4.5%. So far, these slightly higher rates do not appear to have had a noticeable impact on the market, with many buyers still purchasing.

Single Family Homes:
The three-month rolling average median sales price of $715,000 is up 6.1% over last year’s.

Year-to-date, new listings are down 14% while sales are down 3.5%.

April’s inventory of 2.2 months is 22% lower than in 2017.

The median percent of list price received was 96% in April.

Condominium/Townhomes:
The three-month rolling average median sales price of $483,000 is up 1.4% over last year’s.

Year-to-date, new listings are down 23% compared to last year while sales were down 13%.

April’s inventory of 1.3 months is 15% lower than in 2017.

The median percent of list price received was 99% in April.

Southern/Central Marin County Real Estate Report May 2018

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There has been a lot of news around the Federal Reserve raising interest rates but mortgage rates are up only 0.5% since December, currently at approximately 4.5%. So far, higher rates do not appear to have had a big impact on the market with many buyers still looking for both homes and condos.

Single Family Homes:
The three-month rolling average median sales price of $1,466,667 is down 0.6% over last year’s.

Year-to-date, new listings are down 4.5% while sales are up 1.2%.

April’s inventory of 1.7 months is 5.8% lower than in 2017.

The median percent of list price received was 101% in April.

Condo/Loft/TIC’s:
The three-month rolling average median sales price of $746,000 is up 10% over last year’s.

Year-to-date, new listings are flat compared to last year while sales were down 13%.

April’s inventory of 1.2 months is 8.3% lower than in 2017.

The median percent of list price received was 100% in April.

 

InvestSF and Keller Williams San Francisco Announce Brand New Condominiums In Noe Valley

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InvestSF and Keller Williams San Francisco announce the sale of boutique residences at 4171 24th Street, the first brand new mid-rise condominium community for sale in Noe Valley since 2015.

Designed and built by BMW Properties LLC developers in conjunction with the architectural team of SIA Consulting, these modern homes are an inspired offering for the forward-thinking urbaneer.

Five well-appointed residences, each with unique floor plans, showcase interiors equipped with smart technology. Two- and three-bedroom homes feature wide plank white oak floors, Nest thermostat, engineered quartz countertops, Thermador appliances and gas cooktop, Grohe and Blanco fixtures throughout, Artistic Tile porcelain tile, gleaming custom cabinetry by Gaos, iPad enabled Sonos home audio, and video intercom.

Two full-floor residences are punctuated by expansive terraces with views from Twin Peaks to Mount Diablo. A rooftop deck of approximately 700 square feet is exclusive to the penthouse residence and boasts unobstructed 360 degree outlooks.

This development’s uber walkable location places Instagram-worthy artisanal shops, trendy eateries and seasonal markets at its doorstep.

Co-listing agents Suzanne Gregg and Mike Basham specialize in the sale and lease of new construction and renovated homes in San Francisco.

About InvestSF

InvestSF is helping clients develop wealth in San Francisco. InvestSF is known for their New Construction division headed by Director, Suzanne Gregg. The company, which currently employs four people, operates with the mission to offer its clients a full suite of services. At the helm, Suzanne Gregg has won numerous awards in her 28 years in the San Francisco market, while consistently operating as a top producer and in the top 1% of real estate agents in San Francisco. For more information about InvestSF, visit http://www.InvestSF.com.

About Keller Williams International Real Estate

Founded 36 years ago, Keller Williams San Francisco is a growing force in San Francisco’s unique housing market. It is known for its international presence and frequency of successful business transactions. The company’s mission is to employ the highest quality real estate agents to provide clients with the best real estate experience. Keller Williams San Francisco is on a rapid growth trajectory, increasing its closed sales volume by 65%, its number of listings sold by 111%, and the brokerage’s total number of producing agents by 123% since the beginning of 2017. Over the past 12 months Keller Williams Realty International has sold $295 billion worth of real estate worldwide. It has served the community’s needs in residential, luxury, commercial and new construction investments. For more information about Keller Williams San Francisco, visit http://www.kwsf.com.

For more information please contact:
Suzanne Gregg / Director, New Construction Division
InvestSF
775 Monterey Boulevard
San Francisco, CA 94127

Phone: 415.816.9133
InvestSF Team Number: 415.692.0060
Email: SG(at)InvestSF(dot)com