Belvedere CA Real Estate: Fall 2010 Update

August 21, 2010

Filed under: Belvedere — dwdupont @ 9:48 am

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 sales below show: there have only been 3 sales in the middle market and none in the high end.

5 N Point Cir  1,550,000 2939 527 256
1 Hilarita Cir  1,725,000 2675 645 320
49 Bellevue Ave  1,750,000 1342 1304 32
19 Acacia Ave  1,963,000 2700 727 38
11 Britton Ave  2,250,000 3647 617 518
412 Golden Gate Ave  2,295,000 2867 800 23
19 Belvedere Ave  2,300,000 2407 956 132
430 Bella Vista Ave  2,300,000 2889 796 102
29 Peninsula Rd  2,350,000 1412 1664 28
213 Golden Gate Ave  2,423,000 3183 761 35
83 W Shore Rd -2461 2,500,000 3481 718 234
14 Laurel Ave  2,625,000 4100 640 22
7 Edgewater Rd  3,300,000 3085 1070 28
180 San Rafael Ave  4,000,000 4112 973 210
3 Britton Ave  4,580,000 4280 1070 80
Average 2,527,400 3,008 885 137

Our office has two $7m deals near closing. The issue is not desirability of Belvedere homes—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 Belvedere—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.

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