It started slowly, then it ratcheted up to a fever pace. It became apparent midway through Q1 that sales in Martis Camp could potentially surpass the total number of transactions from the previous year. What makes this notable isn’t that there are currently more transactions this year compared to last, it’s that they’ve more than doubled; a whopping 118% increase.
We’re over halfway through Q2 and there have been 24 transaction. This equates to a staggering $118,294,666 in sales. As I write this there is an additional property in contingency.
So, what is driving this epic year for Martis Camp? Is it a relatively stable economy? Is it a rush of high net worth consumers looking to purchase before interest rates climb any higher? Perhaps Bay Area tech’s continued good fortune is creating more Martis Camp caliber buyers? Wasn’t real estate supposed to stutter in the wake of tax reform? Evidently not since it didn’t miss a step, rather, it took off in a sprint.
The answer is never clear and it’s always a myriad of economic factors at play. One thing is for certain, that when it comes to luxury estates Martis Camp rank as one of the best in the nation. With an average sold price of $4,928,944, one can simply marvel at just how fast these behemoths are moving.
My brokerage continues to establish itself as the premier luxury property brokerage. This week we launched 10835 Cairncroft Lane, a 6 bed / 5.5 bath estate with 6,794 sf of luxurious living space. Located on 2 acres with nothing but forest and trails behind it, this property boasts size, location, and utility.