September 2024 Market Report Newsletter

September 2024 Market Report Newsletter ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏

As we approach the beginning of autumn, the cooler temperatures and falling leaves signal a change in the season. With autumn also comes the second wave of strong housing market activity. I wanted to share an interesting case study: my listing at 20 Cypress Hollow Drive in Tiburon.

Over the summer, my team and I meticulously prepared this home for sale. We lightened the red Brazilian cherry floors, replaced the carpets, removed decorative pillars, refinished the walls, redesigned the fireplace surround, updated the kitchen counters, and painted both the cabinetry and the house interior. We also changed all light fixtures and hardware. For the exterior, we selected a striking new color for the shingles and painted them along with the brick to create instant curb appeal. We refreshed the landscaping by removing overgrown bushes, adding new plants, relaying pavers, and installing artificial turf.

The results were impressive. Within just one day of listing, the property attracted 40 parties, thanks to the stunning photography and marketing efforts. I handed out 18 disclosure packages to genuinely interested buyers. Within three days, I received three offers and had four more qualified buyers seriously considering the property. We are now pending over the asking price, much to the delight of my sellers—and myself.

Improving home values and exceeding expectations is my passion. If you are considering selling your home, please don't hesitate to get in touch. I would be happy to guide you to success.

Warmly,
Sharon

— Market Report —

Autumn Market Begins with Lowest Interest Rates Since Spring 2023

The August market was basically in a holding pattern, following typical seasonal trends, as the summer holidays drew to a close amid declining interest rates, indications of impending cuts in the Fed’s benchmark rate, improving housing affordability, substantial financial market volatility, and a huge helping of presidential election news. The autumn selling season, just begun, typically sees significant market activity before the big mid-winter slowdown begins in late November, and some expect a very substantial rebound in demand due to interest rate declines.

"The time has come for policy to adjust…the timing and pace of rate cuts will depend on incoming data, the evolving outlook, and the balance of risks…My confidence has grown that inflation is on a sustainable path back to 2 percent.” Jerome Powell, Chairman, Federal Reserve Bank, 8/23/24 

“We forecast mortgage rates to gradually decline in the coming quarters and anticipate a significant surge in homebuying demand, mainly from the first-time homebuyers left at the margins. However, the tight inventory is still expected to limit home sales. We expect home sales to increase modestly the remainder of the year and home prices to rise 2.1% in 2024.” Freddie Mac Research (FHLMC), 8/22/24
 
“Consumers’ short- and long-run economic outlook improved [in August], with both figures reaching their most favorable levels since April 2024 and a particularly sizable 10% improvement for long-run expectations that was seen across age and income groups.” University of Michigan, Survey of Consumers, 8/30/24

“Latest macroeconomic data suggests that the economy remains solid, with the cooling trend in inflation continuing at the start of Q3 2024. Both consumers and business leaders feel upbeat in general and have a positive outlook about the near future. With the Fed expected to adjust rates downward in their next few meetings, the housing market should pick up some momentum throughout the rest of the year. There are challenges...The ongoing insurance crisis, for example…has presented difficulties for homebuying and could remain a major headache for the market [over] the next couple of years.” CA Association of Realtors, 9/6/24 

“Presidential elections have little impact on home sales…[ultimately] home purchases are usually life decisions rather than political ones.” John Burns Research & Consulting, 7/30/24

— Highlights —

NEW RESTAURANTS + REBOOTS

346 Corte Madera Town Center

Carefully sourced burgers, sides, shakes and house-made sodas.

1403 Bridgeway , Sausalito

Chef driven seafood-centric menu that highlights caviar alongside regional wine pairings.

5 Main St. , Tiburon

Michael Mina's bayside retreat offers 5-star service, bold cuisine, in a lively community clubhouse setting.

27005 CA-1 , Tomales

A pop-up taco stand featuring farm-to-table ingredients, as well as local seafood specials.

— Success Story — 

Sharon lead us through the process of selling our home, from beginning to end, with patient professionalism. Calling upon her many years of experience, representing buyers and sellers in this area, and her contacts with local businesses, she helped us prepare our home for sale with efficient and meticulous precision. 

She carefully orchestrated renovations that would aptly add value without overspending and she managed the entire process for us, while carefully communicating along the way. And this was all before we were ready to market and sell the home! She achieved a remarkable sale price for us, through her thoughtful pricing, her thorough, effective and beautiful marketing efforts, her on-site presence and her keen eyes and ears, plus much, much more! We are so glad that we chose Sharon to be in our corner representing us on our sale. 

The results were outstanding and I would not consider working with any other realtor again. Who you choose to represent you really does matter and  I can assure you, if you choose Sharon, you will not regret your choice!

- Lisa Preger, Mill Valley Home Seller

— Compass National Network —

Looking for a primary residence, second home, or investment property outside of Marin? I am connected to some of the best agents in the country and would love to make an introduction!

Mill Valley
338 North Ferndale Avenue
4 BD 4 BA  2,600+/- SF $2,595,000

Tucked away in peaceful Homestead Valley, this sun-soaked mid-century modern home has been fully revamped. Designed for today’s lifestyle, this home offers separate exterior access to both levels, making it great for work-from-home setups.

Expansive decks, a yard with mature landscaping, and a hot tub enhance indoor-outdoor living. Additional features include hardwood floors, skylights, A/C, a 3-car carport, ample storage, and a utility room. 

Open Sunday 1-4 pm!

Fairfax
52 Park Road
4,821 SF 

2-unit building with additional cottage/studio on a flat lot, one block to downtown Fairfax.

Stay tuned for more info on this one!

Tiburon
20 Cypress Hollow Drive
4 BD 3.5 BA  2,693 SF $3,095,000

Discover elegance in this custom built single-level home in the prestigious Cypress Hollow neighborhood. With three en-suite bedrooms and a versatile fourth bedroom/office, this residence offers seamless family living.

Vaulted ceilings and large windows fill the home with natural light, while an open floor plan connects the living spaces. The fully fenced backyard offers a level lawn and elegant landscaping, perfect for outdoor enjoyment. An attached two-car garage and driveway provide ample parking.

Ideally located near parks, shopping, and top schools, this home offers a blend of luxury and convenience. 

St Helena
1385 Grove Court
3 BD 2.5BA 3,192 SF $1,900,000

Gorgeous St. Helena home, located on a quiet cul-de-sac, beautifully remodeled in 2020 with modern finishes and contemporary design. The chef's kitchen features top-of-the-line appliances, custom cabinets, quartz counters, and a kitchen island/breakfast bar.

Mill Valley
95 Eldridge Avenue
5 BD 4BA 3,186 SF $6,200,000

This beautiful Blithedale Canyon home was listed at $4,995,000, received multiple offers and sold at $6,200,000.

My sellers are delighted to have sold for 24%,  $1,205,000 over asking!

For more information on the anatomy of this sale click here.

Mill Valley
11 Elma Street
4BD 4.5BA 3,277 SF $6,000,000

11 Elma Street in Mill Valley, sold swiftly and quietly in an off market sale.

We listed this spectacular downtown home at $5,495,000, and I secured a buyer at $6,000,000, 9% over asking, in just 2 days.

My sellers are delighted to have made 54 % appreciation in just 6 years!

Mill Valley
170 Bayview Drive
2 BD 2BA 1,440 SF $1,075,000

This modern home was designed in 1974 by renowned architect Steve Wisenbaker. 

Offering a unique design, views and privacy, my talented buyer snapped up the opportunity to take on this exciting project, which provides her with the template for a stunning remodel to transform the space.

I cannot wait to see her work in progress!

Larkspur
21 Bayview
4 BD 3 BA 2,623 SF $3,295,000

Nestled in the highly sought after Lower Palm Hill neighborhood in Larkspur, my buyers are delighted to have snapped up this wonderful family home to raise their young family in. 

Offering a perfect blend of traditional charm and contemporary finishes, a wonderful back garden and indoor outdoor flow and such a convenient walk/bike to town or school community.

Mill Valley
2 Chaucer Court
3 BD 2BA 1,356 SF $1,225,000

Newly renovated Shelter Ridge townhome featuring vaulted beam ceilings, 3 decks, and a 2-car carport with storage.

Shelter Ridge complex offers a fantastic community with pool, spa, tennis courts, playground and club house and in a convenient location near Hauke Park.

— Available Homes —

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Visit my website to see my current listings and sold homes, as well as many testimonials, my newsletters, 
and more!

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Marin

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I am extremely proud and honored to have been named as one of the verified Real Trends top 1.5% of real estate agents in the Country again. 

I am deeply grateful for the trust and support of my amazing clients, colleagues,  family and friends. I owe this achievement to you all and thank you for choosing me to represent you in your real estate journey.

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.