21 Aug Belvedere CA Real Estate: Fall 2010 Update
Statistically, Belvedere home prices have really taken a fall since my last update. Average prices are down another -17% from 2009 levels and over -40% from the top. The only segment of the market that has had any traction at all this year is the bottom half of the market as the salesÂ below show: there have only been 3 sales in the middle market and none in the high end.
|5 N Point CirÂ||1,550,000||2939||527||256|
|1 Hilarita CirÂ||1,725,000||2675||645||320|
|49 Bellevue AveÂ||1,750,000||1342||1304||32|
|19 Acacia AveÂ||1,963,000||2700||727||38|
|11 Britton AveÂ||2,250,000||3647||617||518|
|412 Golden Gate AveÂ||2,295,000||2867||800||23|
|19 Belvedere AveÂ||2,300,000||2407||956||132|
|430 Bella Vista AveÂ||2,300,000||2889||796||102|
|29 Peninsula RdÂ||2,350,000||1412||1664||28|
|213 Golden Gate AveÂ||2,423,000||3183||761||35|
|83 W Shore Rd -2461||2,500,000||3481||718||234|
|14 Laurel AveÂ||2,625,000||4100||640||22|
|7 Edgewater RdÂ||3,300,000||3085||1070||28|
|180 San Rafael AveÂ||4,000,000||4112||973||210|
|3 Britton AveÂ||4,580,000||4280||1070||80|
Our office has two $7m deals near closing. The issue is not desirabilityÂ of Belvedere homesâ€”the issue is pricing. The average listing price is $6,130,000 or $1,365/sqft. This implies an average lot value of $4.3m for the town of Belvedereâ€”well above my research which shows the average lot value in Belvedere is worth ~$1.9m. Please reference below average lot value graphs.
The truth is there are a quite a selection of high end and wonderful properties on the market, but almost every one is priced for a very stong economic recovery.
Please reference our main website www.thedupontgroup.net or call Dave 415-867-6611 for more information.