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Toni Abruzzo-Ramirez's Blog

By Toni Abruzzo-Ramirez | Broker in Greenbrae, CA

Tiburon Ca Market Update 2007-2009


Overall Tiburon market sales activity has been declining from the peak of 113 in 2007 to 80 in 2008 to 67 in 2009. Tiburon single-family residence prices have moved in a relatively steady increasing trend from $1,910,000 in 2005 to $1,995,000 in 2007 and $1,992,500 in 2008. The 2009 median sales price of $1,900,000 was a 4.6 percent decline from near-peak 2008 and a return to the 2005 median.

Average selling price per square foot has ranged narrowly from $752/sq.ft. in 2005 to a peak of $823 in 2007. The 2009 average selling price per square foot was $720, a ten percent decline from  $797 in 2008.

Within the dominant price segments of $1M-$2M and $2M-$3M, accounting for 61 percent of total sales,  median sales prices declined 7.5 percent in the $1M-$2M segment and increased 2.1 percent in the $2M-$3M segment.

Perhaps the most significant change from 2008 to 2009 was in Perhaps the most significant change from 2008 to 2009 was in average marketing time, which increased from 77 to 131 days. In addition, two other trends appeared: The number of sales below $ 1,000,000.00 increased substantially in 2009 to 18 percent of the overall market on 12 sales from 4 sales and one-half of one percent in 2008. The over $3M market segment declined in relative market composition. There were 19 sales over $3M in 2008, or 24 percent of the market and there were 14 sales over $3M in 2009, 21 percent of the overall market.

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