Belvedere and Tiburon Real Estate Market Prices, Trends, and Forecast for 2023

San Francisco is one of the most iconic cities in the nation, but you don't need to live at the heart of the hustle and bustle to enjoy its magic. Just north of San Francisco, across the Golden Gate Bridge and through Marin City, you will find two idyllic communities of Tiburon and the more exclusive Belvedere Island. Both offer lush and spacious neighborhoods, excellent schools, and prestigious homes crafted by famous architects.

It should come as no surprise that Belvedere and Tiburon occupy the luxury housing market in which homes often sell for between two and six million dollars for each estate. Many homes offer a breathtaking view of the San Francisco Bay and the city skyline across the water. Belvedere and Tiburon real estate market trends in 2023 are looking bright for both buyers and sellers in the connected communities.

Luxury housing markets, as you will find in Belvedere and Tiburon, often follow a path of their own when it comes to market trends. Because homes and neighborhoods are more spacious, the area experienced a boom in the wake of the pandemic rather than the expected crash and has remained strong since. Luxury home buyers value the quality, view, and comfortable location of Belvedere and Tiburon.

While the number of homes on the market is always small, time on the market is relatively short, and home values are experiencing a positive trend.

In neighborhoods with multimillion-dollar properties, home value trends are more difficult to track because the difference from one property to the next can be two or three million without breaking the overall trend in property values. Tracking the larger trends, home values in Belvedere and Tiburon are moving upward. Seaside and ultra-luxury homes are selling at ever-greater values, which is also driving up the value of more modest suburban homes and apartments in Tiburon.

In recent months, the Fed has stopped raising the national interest rate, which has allowed local real estate interest rates to stabilize in the San Francisco housing market. Right now, the average mortgage rate in San Francisco is around 7% to 8%, which is quite favorable for those looking to invest in the area for either long-term or temporary plans.

Sometimes, investors will look at population trends to determine housing trends. Belvedere and Tiburon have always had a smaller population due to the spacious and exclusive design of these communities. Population in Belvedere, for example, peaked in 2020 and has experienced a small decline since then. However, this is a natural part of the population ebb and flow among the elite island residents.

Tiburon contains a number of suburban neighborhoods and modest to high-end apartment communities. If your goal is to rent properties as a landlord, you may find a few profitable opportunities. However, it should be noted that Tiburon has banned all short-term rentals, and Marin County requires all short-term rental operators to obtain a business license and transient occupancy tax certificate in order to run even in-residence operations.

Marin County is a beautiful, hilly country that occupies a large section of land north of San Francisco. It includes Belvedere and Tiburon along with Marin City on the southern tip of its peninsula and towns such as San Rafael, St. Vincent, and Novato along the eastern coast bordering San Pablo Bay. Marin County is also home to several national preserves and parks, such as Samuel P. Taylor State Park, Point Reyes National Seashore, and Mount Tamalpais Watershed.

Most of Marin County is rural or preserved wilderness with cities along the east shore and sparse small towns along the western coast.

In September of 2023, there were 500 homes listed, and the median home price was $1,495,000.

Due to their proximity to San Francisco and their desirable geographic location, Belvedere Island and the city of Tiburon are known for their exclusive shared housing market. There are rarely more than 40 homes on the market between the two communities, but homes are in high demand and often sell for multimillion-dollar price tags.

Open houses are common, as this caters to the desires of luxury home buyers, and the average time on the market is 49 days.

The median listing price is most often used as the best way to estimate home value trends in any given market. In Belvedere Island and Tiburon, the median listing price is above $4,000,000. In the isolated luxury community of Belvedere Island, the median listing price is $5,995,000. This number has been trending upward since January 2023. However, because Belvedere Island rarely has more than a handful of sales each month, the average listing price by month can vary wildly.

In Tiburon, the median listing price is $4,120,000. As a larger community, this number tends to vary more widely depending on whether one of the grand multimillion-dollar estates has sold in a given month compared to a steadier trend of prices in suburban homes, condos, and townhomes. Overall, Tiburon has seen steady to slightly rising home prices in the last five years.

With the interest rate stabilized, now is a good time to buy a home if you have dreams of living across the bay from the glittering San Francisco skyline. Both Belvedere Island and Tiburon offer ultra-luxury homes, and a few more enter the market each month. If you have your eye on a particular style or location, however, it's important to approach it with patience, as satisfaction is high and turnover is relatively low in these exclusive communities.

Whether you are looking for the perfect island escape or you dream of an estate just a ferry ride away from San Francisco, Belvedere and Tiburon have it all. Finding the perfect property in these elite communities can be a challenge, which is why you can rely on the expertise of  Nadine and Camara. This dynamic duo of real estate agents will find exclusive opportunities and hand-pick properties with care to ensure you find a Belvedere or Tiburon home that best suits the lifestyle you are dreaming of.