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Tiburon seems to be poised for a larger price drop than most other Southern Marin towns. Prices dropped -8.5% in 2008 after an +11% increase in 2007. 2007 witnessed a slew of high-end home sales stoked by stock markets gains, which helps explain the 11% price gain. Our analysis of median home prices in Tiburon indicate that prices should fall by another 24% in order to compute with incomes (provided median incomes do not fall during the next few years). Additionally, the housing stock in Tiburon contains a number of very expensive homes which historically were purchased by successful entrepreneurs and executives after liquidity events (IPOs and M & A events) or successful careers. There are still plenty of people that can afford these homes, as shown by the dramatic increase in money market accounts as investors cash in stocks. It will remain to be seen at what pace high-end home sales continue in Tiburon. The Reed School District, staggeringly beautiful views, safe neighborhoods and a great community should continue to draw people to Tiburon from all over the world.
Current Inventory: There are 28 homes on the market in Tiburon over $1.85M (of which only four are in contract); and there are eleven homes priced over $4M (none of which are in contract.) Additionally, many Tiburon homes were recently pulled off the market over the holidays and still more are being market off the MLS until market conditions change.
Q4 2008 Tiburon Real Estate Analysis
Tiburon seems to be poised for a larger price drop than most other Southern Marin towns. Prices dropped -8.5% in 2008 after an +11% increase in 2007. 2007 witnessed a slew of high-end home sales stoked by stock markets gains, which helps explain the 11% price gain. Our analysis of median home prices in Tiburon indicate that prices should fall by another 24% in order to compute with incomes (provided median incomes do not fall during the next few years). Additionally, the housing stock in Tiburon contains a number of very expensive homes which historically were purchased by successful entrepreneurs and executives after liquidity events (IPOs and M & A events) or successful careers. There are still plenty of people that can afford these homes, as shown by the dramatic increase in money market accounts as investors cash in stocks. It will remain to be seen at what pace high-end home sales continue in Tiburon. The Reed School District, staggeringly beautiful views, safe neighborhoods and a great community should continue to draw people to Tiburon from all over the world.
Current Inventory: There are 28 homes on the market in Tiburon over $1.85M (of which only four are in contract); and there are eleven homes priced over $4M (none of which are in contract.) Additionally, many Tiburon homes were recently pulled off the market over the holidays and still more are being market off the MLS until market conditions change.