October 2022 Newsletter

Dear Clients, Family, Friends, and Neighbors,

I think October may be my favorite month in Marin County. The light is beautiful, the days are warm and the evenings cool, the Blue Angels fly, football, basketball, and the World Series games are in full swing, and trick-or-treaters are getting ready for Halloween. In real estate, it’s the fall selling season that signals the last push of the year to get our clients where they want and/or need to be before the holidays when the market quiets until the early spring. 

Even the hottest markets eventually cool and a market shift is underway as high inflation, a jittery stock market, and higher interest rates cut into housing demand. With the exception of the 2008 crash, market corrections over the last four decades typically ran from a simple flattening in appreciation to price adjustments of 5% to 10% (relatively small compared to the appreciation rates which preceded them). Sellers now need to adapt to the new realities of the market, and buyers, albeit paying higher mortgage payments, are seeing pricing opportunities that have not existed for several years.

Trends I am observing in our new market: 

1. Great houses (new construction, newly remodeled), priced well are selling

quickly. 

2. Inspiring homes in coveted areas are selling. Recently, our client received multiple offers on a special property we have listed in the Ross School District. 

3. Doubling down on house prep, taking care of deferred maintenance items, and pricing for the market today vs 6 months ago is what it takes to be a successful seller in our new market.

4. Lack of inventory continues to be challenging in many of our Marin County markets and will likely not be any better in the near future, as many sellers will wait out the correction or are locked into their homes with a low-interest rate.

Patrick Carlisle, Bay Area Chief Market Analyst at Compass, creates very informative analytics, charts, and narratives giving historic context to what we are seeing in the market and why. I include his charts every month below and on our website. I found this month’s analysis to be very informative. 

With all the negative news about our Golden State, an article in the Sacramento Bee states that California will soon surpass Germany to be the 4^th largest economy in the world.   A report from Henley and Partners shows the San Francisco Bay Area, the second wealthiest city (if you can call it a city) in the U.S., holds the third spot among the world’s richest cities with 276,400 millionaires, 623 centimillionaires and 62 billionaires. 

A highlight of our year was seeing so many of our clients at the CHC Team fall gathering held at the Presidio Yacht Club in Sausalito a few weeks ago. Thank you to all of you who could attend.  It was our first in-person event since COVID, and it was heartwarming to see so many of you there. 

Our team is busy with our final fall listings, helping our buying clients find opportunities that did not exist six months ago, and getting ready to begin prepping homes for early spring 2023.  I am always available to meet and talk about the market and improvements you can make to your home that will bring a meaningful ROI. If you are ever in the neighborhood, please stop by our Ross office to pick up a CHC Team Yeti and trail map and say hello. We love seeing you.

Wishing you all a Happy Halloween!

Sale Pending

2346 Mar East Street, Tiburon

List Price: $2,800,000

Listed by Karen Fairty

224 Woodland Road, Kent Woodland

Sold: $10,100,000

Multiple Offers

8 W Shore, Belvedere

Sold: $10,925,000

Buyer Representation

196 Lagunitas Road, Ross

Sold: $8,600,000

Co-listed with Tammy Kornfeld of Sotheby's

87 San Carlos Avenue, Sausalito

Sold: $7,500,000

310 Goodhill Road, Kent Woodlands

Sold: $4,850,000

Multiple Offers

511 Goodhill Road, Kent Woodlands

Sold: $4,450,000

Buyer Representation

4000 Old Rancheria Road, Nicasio

Sold: $4,431,750

Buyer Representation

240 Evergreen Drive, Kent Woodlands

Sold: $4,005,000

Multiple Offers

58 Sycamore Avenue, Mill Valley

Sold: $3,750,000

Multiple Offers

Listed by Karen Fairty

479 Montecito Avenue, Corte Madera

Sold: $3,727,000

5 Golden Lily Place, San Rafael

Sold: $3,675,000

Buyer Representation

17 Eton Way, Mill Valley

Sold: $3,610,090

Multiple Offers

Listed by Karen Fairty

17 Upper Road West, Ross

Sold: $3,600,000

Multiple Offers

160 Rancheria Road, Kent Woodlands

Sold: 3,310,000

17 Idalia Court, San Anselmo

Sold: $3,255,000

Buyer Representation by Karen Fairty

96 Corte Del Colorado, Larkspur

$3,100,000

Buyer Representation

165 Upland Road, Kentfield

Sold: $3,050,000

Multiple Offers

21 Echo Court, San Anselmo

Sold: $2,700,000

Buyer Representation

22 Stetson Avenue, Kentfield

Sold: $2,365,000

Multiple Offers

151 Kent Avenue, Kentfield

Sold: $2,330,000

237 Rose Avenue, Mill Valley

Sold: $2,100,000

Buyer Representation

5 W Brooke Drive, Novato

Sold: $2,000,000

Buyer Representation by Karen Fairty

132 Lowell Avenue, San Rafael

Sold: $1,656,276

Multiple Offers

2 Narragansett, San Rafael

Sold: $1,330,000

Buyer Representation by Karen Fairty

6 Sylvia Circle, Novato

Sold: $1,256,000

Buyer Representation

432 San Carlos Way, Novato

Sold: $1,225,000

Buyer Representation

113 Mitchell Drive, Fairfax

Sold: $650,000

Buyer Representation

220 Morningside Drive, Corte Madera

Sold: $300,000

Buyer Representation

CHC Team Client Fall Gathering

Open for dinner Tues thru Sat starting at 5:15 pm  

Make a reservation: (415) 925.9200 or by Open Table  

Alicia & Darren Banks New Owners

(Closed Sunday & Mondays)

Remote work drove over 60% of house-price surge, Fed study finds

SG Gate - September 26, 2022

California is about to become the world's

4th largest economy

The Sacramento Bee - October 25, 2022

The standoff between homebuyers and sellers  Housing Wire - October 11, 2022

Five of the 10 wealthiest cities in the world

are in the US

The Hill - September 15, 2022

Compass Luxury in the News 

Compass -July 2022

The Spookiest Part of Halloween

Fire Safe Marin 

What is a Flag Warning? 

Fire Safe Marin