02 Jan Larkspur CA Real Estate 2013 Year-End Review
Larkspur SFR unit sales were significantly off the pace of 2012 but not for lack of demand.
Of all the towns evaluated in this newsletter, Larkspur and Greenbrae show the greatest constraint of supply. The median size home that sold last year in Larkspur was 2,302sqft, an all-time high.
The DuPont Group (TDG) Price index shows Larkspur CA Homes are trading 9% above the Biz Cycle average, & -9% below peak 2008 prices.
The Median prices of Larkspur homes (median prices re often a ‘reality check’ as the data isn’t skewed by a few high end sales) that sold in 2013 are just 6% less than its peak in 2008.
The below tables shows the strength of Larkspur CA Real Estate market segments. The way to read this chart is: the bottom 10% of the market the average price was $723,714 and that is 113% of the business cycle average (last 7 years). Notice, the strongest demand is in the bottom 50% of the market.
Lot/location values are stronger than structure values as a derivatives of home prices- showing that buyers care more about finding something in Larkspur and less about the layout/finish of what they find.
Median lot values (removing the value of the structure):
Median structure values (removing the value of the lot/location):
The DuPont Group hopes to take one or two listings in Larkspur in 2014, if you plan on buying or selling please consider interviewing us for your listing or purchase. Please allow us to transform our research and work in 2013 into a better price and smarter purchase decision. Please call or email for more info. Written by Dave DuPont 415-867-6611. Thank you and Happy New Year!