| The spring brings four birthdays to the Williams household, and yours truly celebrated one at the end of May. I already forget what I did that day, but no doubt it included time with my family, on one of my two wheeled friends and baseball! On that note, if you know me, you know I try my best to support the local community. Little league baseball is a big part of my community. It also brings back fond memories for me of my childhood. I am grateful to be able to contribute to the league as a board member, sponsor and coach. Finally, the image above paints a clear picture of how the team I was part of (a coach) ended up; a Mill Valley Majors (12U) City Championship. 🍾💫 The real estate market followed its traditional seasonal trend with a spike in listings and sold properties in March, April and May. That said, new listings outpaced sold listings in May, with active single family residence listings going from 208 to 337 from the end of the first week to the end of the final week. Price reductions are also rising at the same time. So what's going on here? Only time will tell, but it does appear that buyers currently have an upper hand on sellers, especially those properties that are sitting and not selling. As always, I'm here to chat about anything real estate-related or just catch up over a cup of coffee. |
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| | | 3 BD 3 BA ±2193 sqft $2,400,000 |
| The sellers wanted to upgrade the property, but didn't want the hassle of managing the project. I introduced the sellers to a company that took on the entire project. It fronted them the total cost of $225,000 to be reimbursed at time of sale. Four offers were received, all above asking, with an accepted offer that closed at $2,400,000. What originally was estimated to sell for roughly $1.6M (prior to renovations) turned into a very strong return on investment. |
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Statistics are generalities, essentially summaries of widely disparate data generated by dozens, hundreds or thousands of unique, individual sales occurring within different time periods. They are best seen not as precise measurements, but as broad, comparative indicators, with reasonable margins of error. Anomalous fluctuations in statistics are not uncommon, especially in smaller, expensive market segments. Last period data should be considered estimates that may change with late-reported data. Different analytics programs sometimes define statistics - such as "active listings," "days on market," and "months supply of inventory" - differently: what is most meaningful are not specific calculations but the trends they illustrate. Most listing and sales data derives from the local or regional multi-listing service (MLS) of the area specified in the analysis, but not all listings or sales are reported to MLS and these won't be reflected in the data. "Homes" signifies real-property, single-household housing units: houses, condos, co-ops, townhouses, duets and TICs (but not mobile homes), as applicable to each market. City/town names refer specifically to the named cities and towns, or their MLS areas, unless otherwise delineated. Multicounty metro areas will be specified as such. Data from sources deemed reliable, but may contain errors and subject to revision. All numbers to be considered approximate. Many aspects of value cannot be adequately reflected in median and average statistics: curb appeal, age, condition, amenities, views, lot size, quality of outdoor space, "bonus" rooms, additional parking, quality of location within the neighborhood, and so on. How any of these statistics apply to any particular home is unknown without a specific comparative market analysis. |
| 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 informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, 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. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. |
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