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Dear Clients, Family, Friends, and Neighbors,
Happy New Year and what a game! A big congratulations to the San Francisco 49ers. It is always inspiring to witness excellence in any pursuit, and the 49ers proved they are worthy of going to the Super Bowl. Rumor has it that some of you were conflicted and cheered for Marin’s favorite quarterback, Jared Goff. If you have not read it, the SF Gate article about Jared, his family, and his friends is sweet. Click here to read it.
In real estate news, what a difference a new year makes. With inflation cooling and the anticipation of the Fed’s rate cuts, we see many buyers jumping back into the market. Economists predict the first of three or possibly more rate cuts later this year, possibly in May or June. Mortgage rates are down more than a percentage point since the peak in the fall of 2023. Danielle Hale, chief economist at Realtor.com, said, “Mortgage rates could near 6.5% by the end of the year….” Some say it could be closer to 5.5%. According to John Burns of John Burns Real Estate Consulting and others, 5.5% is the tipping point. Nationally, home sales dropped to the lowest level in nearly three decades, with existing home sales falling 19% in 2023. The National Association of Realtors predicts a 13% increase in 2024 and a 15.8% increase in existing home sales in 2025.
Based on the volume of our 2024 listings for spring and the number of listing calls I am getting, it feels like more sellers are ready to sell, making Marin buyers very happy. I am predicting a slight uptick in inventory this year, but still well below the norms of the pre-COVID market. The chart below shows 2023 vs 2022 sales stats for single-family homes in all price points and for the luxury ($5M+) market. Only Belvedere (+58%) and Larkspur (+6%) had increased sales in all price points. In the luxury ($5M+) price point, only Belvedere had an increase in sales – a whopping $111%. Kentfield and San Anselmo were flat, and Mill Valley (-58%) and Ross (-62%) were down considerably. As discussed in previous newsletters, listing activity in this price point tends to be discretionary and many sellers opted to sit on the sideline in 2023.
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Our team has been in full gear since the new year prepping and transforming homes for the market. We have quite a number of fantastic listings that will hit the market in March and April, and I look forward to sharing more in our February newsletter, and please never hesitate to call me if you would like more information.
We are all in the office and would love to see you if you are in the neighborhood. Wishing you and your family a very happy, healthy, and fun-filled 2024.
All the best,
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Current Active Properties | |
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Available Off-Market
224 Woodland Road
Kent Woodlands
List Price: $11,500,000
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Coming Soon
Custom-Built Luxury Home. Country Club Area
Mill Valley
6 BD | 5 BA | 5,705 SQ FT | 1.9132-Acre Lot
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Coming Soon
Luxury Single-Level Home. Mt. Tam Views
Kent Woodlands
4 BD | 3.5 BA | 3,600 SQ FT | 1.9972-Acre Lot
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Coming Soon
Custom-Built Luxury Home. Mt. Tam & Bay Views
Larkspur
5 BD | 4 BA | 4,045 SQ FT | 0.5739-Acre Lot
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Coming Soon
Del Mesa Private Retreat
Kentfield
5 BD | 5.5 BA | 5,000 SQ FT | 0.4215-Acre Lot
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Coming Soon
Single-Level Home. Easy Trail Access
Kent Woodlands
3 BD | 2.5 BA | 3,026 SQ FT | 0.4917-Acre Lot
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Coming Soon
Beautifully Updated Ross Terrace Home, Kentfield
3 BD | 3.5 BA | 3,638 SQ FT | 0.0835-Acre Lot
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2024 CHC Team Property Sales | |
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Belvedere Waterfront Home
Sold Off-Market: $8,600,000
Buyer Representation
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5 Palmer Court, Tiburon
Sold: $3,388,500
Buyer Representation
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Compass Curated Magazine - Fall/Winter 2023 | |
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Glass House That Catches the ‘Fog Waves’ Rolling Into California’s Bay Area Lists for $10.5 Million
Mansion Global - January 26, 2024
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Affluent Bay Area city approves largest housing development in decades
SF Chronicle - January 23, 2024
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Marin County Real Estate Report
Compass - January 2024
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How to Create Juniper Free Zone
Fire Safe Marin - January 17, 2024
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How to Prune for Wildfire
Fire Safe Marin - January 12, 2024
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23 Ross Common, Suite 3 | Ross, CA 94957
415-461-8609 | carey@chcteam.com
chcteam.com | DRE 01323032
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Compass is a real estate broker licensed by the State of California operating under multiple entities. License Numbers 01991628, 1527235, 1527365, 1356742, 1443761, 1997075, 1935359, 1961027, 1842987, 1869607, 1866771, 1527205, 1079009, 1272467. All material is intended for information purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, conditions, sale or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. | | | | |
