To keep you informed and making the best decisions for your fiduciary clients with Northern California Real Estate, below are links to my up-to-the-minute Northern California Fiduciary Real Estate Market Report for January/February 2018 for Alameda, San Francisco, Contra Costa, San Mateo, Santa Clara, Marin and Sonoma Counties. For immediate information on properties in other Northern California counties please let me know directly.
This monthly report includes links to detailed county-by-county and city-by-city analysis of the current real estate market trends impacting fiduciaries in each of these areas, as well as an in-depth analysis of the current mortgage lending market.
Following this report are just a few recent case studies of successful fiduciary real property sales to keep you learning and in the know as it relates to one of your clients’ largest assets.
January/February 2018 Northern California Fiduciary Real Estate Market Report
Click here to watch Andrew’s 2018 San Francisco Bay Area Real Estate Market Forecast.
ALAMEDA COUNTY
HOME PRICES END YEAR ON HIGH NOTE – The average price for single-family, re-sale homes in Alameda County ended the year with a 12.4% gain year-over-year. It was also the seventh month in a row of double-digit gains. The median price jumped 11.7% year-over-year. The median price has been higher than the year before every month since January 2012.
CONTRA COSTA COUNTY
PRICES HIT YEAR END HIGH – The median price for single-family, re-sale homes in Contra Costa County were up by double-digits in December, year-over-year: 10.1%. The average price rose 9%. The median price for condominiums continued backing off all-time high in set in October of $475,000. It was $435,000 in December. Nevertheless, it was up 8.6% year-over-year. The average price was up 11.5% over last December.
SAN FRANCISCO COUNTY
PRICES RISE AT YEAR’S END – The median price of single-family, re-sale homes in San Francisco was up 31.7% year-over-year in December. The median price of condos/townhomes gained 7.9% over last December. Home sales plummeted 49.3% from last December and were down 8.0% for the year. Condo/townhome sales were down 5.2% from last December and were down 3.5% for the year. Multiple offers continue to be the norm. The sales price to list price ratio, or what buyers are paying over what sellers are asking remains at triple digits: 106.8% for homes and 102.4% for condos/townhomes.
SANTA CLARA COUNTY
PRICES END YEAR ON HIGH NOTE, AGAIN – Prices for both single-family, re-sale homes and condos jumped by double-digits in December to set new all-time highs for the third month in a row. That’s the seventh month in a row the median price for homes has been higher than the year before by double-digits. The average price was up by double-digits for the sixth month in a row. The median price for homes jumped 34.8% over last December. At $1,293,690, the median price squeaked over the previous high of $1,288,500 set in November.
SAN MATEO COUNTY
PRICES END YEAR ON HIGH NOTE, AGAIN – Prices for both single-family, re-sale homes and condos jumped by double-digits in December to set new all-time highs for the third month in a row. That’s the seventh month in a row the median price for homes has been higher than the year before by double-digits. The average price was up by double-digits for the sixth month in a row. The median price for homes jumped 34.8% over last December. At $1,293,690, the median price squeaked over the previous high of $1,288,500 set in November.
MARIN COUNTY
HOME PRICES RISE TO END THE YEAR – The median price for single-family, re-sale homes was $1,315,000 in December, a gain of 16.9% year-over-year, and just $10,000 off the all-time high set in April 2017. The average price gained 12.3%. After surging 37.1% in November, home sales fell last month, dropping 5.8% over last year. For the year, home sales were up 0.7%. The median price for condos gained 9.9% year-over-year. The average price was up 0.9%
SONOMA COUNTY
CES RISE TO END THE YEAR – The median price for single-family, re-sale homes was $1,315,000 in December, a gain of 16.9% year-over-year, and just $10,000 off the all-time high set in April 2017. The average price gained 12.3%. After surging 37.1% in November, home sales fell last month, dropping 5.8% over last year. For the year, home sales were up 0.7%. The median price for condos gained 9.9% year-over-year. The average price was up 0.9%. Condo sales were off 28.8% and were down -1.3% for the year.
RECENT NORTHERN CALIFORNIA FIDUCIARY CASE STUDIES
SAN FRANCISCO COUNTY PROBATE SALE – 512 Grafton Ave, San Francisco – Listed for $849,000, Just Sold for $1,128,788 – Beautiful South-facing Ingleside-Area 2BD/1BA Center Patio with Bonus Room & Additional Space to Grow! This 1939 Original had been nicely updated in recent years, has lots of period charm (parquet floors, crown moldings, decorative mantle) and was located just steps from Ocean Ave shopping, dining & more! Wonderful area near Whole Foods, 24Hr Fitness, Muni, BART & 280/101 commute access! I provided all estate liquidation, property preparation (paint, floors and clean up), marketing and negotiation for family executor selling on behalf of parent’s estate.
CONTRA COSTA COUNTY TRUST SALE – 3136 Ptarmigan #5, Walnut Creek (Rossmoor Retirement Community) Sold for $496,000 – This beautiful 2BD/2BA Kentfield Extopen living ended model with bonus den/office was surrounded by serene nature! The lovely house-like condo boasted a bright, room/dining room combo with an adjoining enclosed sun-porch offering stunning nature and canyon views to the East. I provided all estate liquidation, property preparation (painting, carpets, flooring, repairs), HOA liaison, marketing and negotiations for trustee selling to pay for the elderly owner’s continued care.
ALAMEDA COUNTY TRUST SALE – Just Sold – 136 Maggiora Drive, Oakland – Just Sold for $690,000 in Three Weeks with Multiple Offers – This wonderful 3BD/2.5BA+ 1960s Chabot Park home had room to grow for the next owners! At 2,141 Sq Ft (per the tax records), the home boasted a bright, functional floor plan that includes a large formal living room with fireplace, an open kitchen/dining room combination, master suite, plus two ample beds, and 2nd full BA, all on the same level. Down was a huge rumpus room with laundry room and 1/2BA. I provided all estate liquidation, property preparation, marketing and negotiations for trustee selling on behalf of trust beneficiaries.
For more information on how you can achieve similar effective results for your fiduciary client’s Northern California Real Estate, please contact me directly.
Contact: Andrew de Vries, MBA, Licensed Real Estate Broker – 415-664-9175 ext. 277, andrew@probateagent.com
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