Sausalito CA real estate has had a Tough Year

By
Real Estate Agent with Decker Bullock Sothebys Realty

Sausalito real estate has had a tough year -average prices are down -34%. The only bright spot is the pace of condo sales, albeit at bargain levels.

Year 2000 Census: The Census pegged the population of Sausalito at 7,330 with 4,533 total housing units-55% of which are condos-with 1.6 people per house, and a mean income of $124,000. Mean income data can tell us a lot about home prices. Are the implied average home prices in line with both Fair Value estimates, current average prices or historical prices? For instance:

  • ▶ Estimated average 2009 household income for Sausalito is $167,000
  • Sausalito residents can support average prices around $1.2m
  • ▶ Fair value estimate for average Sausalito SFR home prices is $1.5
  • ▶ '04-'09 historical prices for average Sausalito SFY is $1.55m
  • ▶ Current prices are hovering -42% below, at around $821.5k

The lack of high-end SFR sales, combined with a plethora of discounted condo sales is skewing average prices very low. The pool of home buyers flooding into the lower end of Mill Valley CA Real Estate, Homes in Tiburon CA and NOT Sausalito (nor central Marin) implies home buyers are looking for decent public schools within close proximity to San Francisco.

 2009 YEar to date Sausalito SFR Home Sales above $850:

Address Sale Price sq ft  $/sqft Days on Mkt
139 Lincoln Drive $850,000 2003 424 149
121 Sacramento Avenue $885,000 1734 510 273
93 Girard Avenue $888,000 1031 861 29
51 Lincoln Drive $922,000 2171 425 104
216 4th Street $975,000 2029 481 10
29 Glen Court $1,000,000 1874 534 146
201 Glen Drive $1,075,000 2146 501 23
54 Edwards Avenue $1,100,000 1640 671 228
27 Vista Clara Rd $1,300,000 1917 678 16
206 West Street $1,525,000 2012 758 52
675 Sausalito Blvd $1,550,000 3100 500 249
75 Cloud VieWest Trail $2,100,000 5000 420 302
8 Channing Way $2,650,000 3300 803 86
Averages $1,293,846 2304 582             128

Bear in mind that the averagews above (and below) are only for these sales-- they do not represent average SFR home prices in Sausalito as I didn't include any sales below $850k that weren't condo sales .

2009 Sausalito Condo Sales:

Addresses Sale Price sq ft $/sqft Days on Mkt
109 Headlands Court $520,000 1225 424 584
202 South Street #5 $549,000 884 621 67
332 Donahue Street $550,000 1667 330 70
258 Donahue Street $565,000 1667 339 68
14 West Harbor Drive $609,000 1718 354 183
4 West Harbor Drive $616,000 1718 359 109
100 South Street #112 $660,000 810 815 27
100 South Street #107 $675,000 956 706 86
14 Kendell Court $705,000 1986 355 82
103 Lincoln Drive $710,000 1644 432 161
67 Lincoln Drive $725,000 1812 400 154
200 Eden Rock Drive $900,000 2302 391 37
100 South Street #214 $1,037,500 1339 775 58
67 Crescent Avenue $1,065,000 1220 780 107
143 Prospect Avenue $1,165,000 2560 455 27
90 Cazneau Avenue $1,557,000 2200 708 62
Averages $788,031 1607 581 118

Posted by David DuPont 415-867-6611

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condos in sausalito

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