Marin Median Price for Homes Down 10% in May
| Trends at a Glance | |||
| (Single-family Homes) | |||
| May 09 | Apr 09 | May 08 | |
| Median Price: | $720,000 | $800,000 | $1,109,000 |
| Average Price: | $893,733 | $1,022,859 | $1,469,910 |
| Home Sales: | 147 | 107 | 166 |
| Sale/List Price Ratio: | 93.0% | 95.2% | 96.9% |
| Days on Market: | 101 | 103 | 66 |
The median price for single-family, re-sale homes dropped 10% in May from April. Year-over-year, the median price is down 35.1%. The average price dropped 12.6%, month-over-month, and was off 39.2% compared to May 2008.
Home sales in Marin rose 37.4% from April, but were off 11.4% year-over-year. Year-to-date, home sales are down 20%.
The following chart tracks each property sale from May and shows the percentage of the listing price the seller received compared to how many days the property was on the market.
The chart shows that properly priced homes sell quickly and for close to, if not more than, their asking pricing.
Condo sales were up 11.8% year-over-year. Year-to-date, condo sales are up 17.8%. The median price for condos in Marin County dipped slightly last month, falling 1% from April, a drop of 30.9% compared to May 2008.
There are two markets in Marin at the present time. The market for homes under $800,000 and the ones above that number. The median price of homes is declining because the homes that are selling are principally those in distressed areas and those most affordable to the general market. To see what that actually means take a look at the following chart which shows homes Active, in contract and sold year to date:
It is clear from the tables that there has been significant pressure on the general median price. Remember that these numbers are for Marin as a whole and you need to look at each town separately in order to see the impact of the recession and de-valuation of homes in that town. For example, below is the same chart taking only Mill Valley sales as follows:
For properties over $ 3 Million where cash is king the price declines from May 08 to May 09 is 20.1%
I have data available for all towns and all price points. I would be happy to share them with you so please drop me an email at ronscottparks@gmail.com or call me at 415-297-9000.
The sales price to list price ratio rose 1.9 points to 95.2%. The number of days it took to put a home into escrow gained one to 103 days in April.
The real estate market is very hard to generalize. It is a market made up of many micro markets. For complete information on a particular neighborhood or for an evaluation of your home's worth, call me.
If I can help you devise a strategy, call or click the buying or selling link in the menu to the left.
Monthly Statistics
Complete monthly sales statistics for Marin County are below. Monthly graphs are available for each city in the county.
| May Sales Statistics | |||||||||
| (Single-family Homes) | |||||||||
| Prices | Unit | Change from last year | |||||||
| Median | Average | Sales | DOM | SP/OLP | SP/LP | Median | Average | Sales | |
| Marin | $720,000 | $893,733 | 147 | 101 | 86.3% | 93.0% | -35.1% | -39.2% | -11.4% |
| Belvedere | $2,975,000 | $2,975,000 | 2 | 69 | 60.1% | 68.4% | -9.8% | -41.1% | -33.3% |
| Corte Madera | $938,500 | $1,009,250 | 4 | 81 | 90.9% | 95.3% | -18.3% | -28.5% | -60.0% |
| Fairfax | $846,500 | $846,500 | 2 | 36 | 98.8% | 100.6% | -6.3% | -16.3% | -30.0% |
| Greenbrae | $1,085,000 | $1,088,800 | 5 | 56 | 96.0% | 99.1% | -0.2% | -18.4% | 25.0% |
| Kentfield | $2,332,500 | $2,332,500 | 1 | 21 | 87.2% | 94.2% | -25.0% | -20.5% | -75.0% |
| Larkspur | $1,075,000 | $1,054,800 | 5 | 119 | 89.2% | 97.0% | -34.8% | -38.1% | 0.0% |
| Mill Valley | $1,050,000 | $1,167,353 | 17 | 64 | 92.5% | 94.5% | -33.3% | -33.2% | -37.0% |
| Novato | $522,975 | $564,770 | 44 | 138 | 86.5% | 95.1% | -26.9% | -30.9% | 63.0% |
| Ross | $3,450,000 | $3,450,000 | 2 | 135 | 61.9% | 87.4% | -8.0% | -13.8% | -60.0% |
| San Anselmo | $718,500 | $791,233 | 15 | 74 | 90.7% | 94.8% | -33.2% | -52.8% | 66.7% |
| San Rafael | $695,000 | $763,195 | 40 | 92 | 93.6% | 96.2% | -16.8% | -14.1% | -9.1% |
| Sausalito | $1,075,000 | $1,075,000 | 1 | 23 | 93.5% | 93.5% | -51.9% | -45.0% | -80.0% |
| Tiburon | $1,900,000 | $1,932,700 | 5 | 115 | 84.1% | 91.6% | 7.6% | -10.3% | -50.0% |
SP/LP = Sales price divided by the listing price at the time of sale
SP/OLP =Sales price divided by the
price for which the property was originally listed
| May Sales Statistics | |||||||||
| (Condos/Townhomes) | |||||||||
| Prices | Unit | Change from last year | |||||||
| Median | Average | Sales | DOM | SP/OLP | SP/LP | Median | Average | Sales | |
| Marin | $345,000 | $434,139 | 41 | 106 | 88.2% | 94.5% | -30.9% | -19.2% | 10.8% |
| Corte Madera | $589,500 | $589,500 | 2 | 52 | 94.4% | 94.4% | n/a | n/a | n/a |
| Greenbrae | $569,000 | $569,000 | 2 | 49 | 90.7% | 98.2% | 21.1% | 21.1% | 100.0% |
| Mill Valley | $690,000 | $926,333 | 3 | 96 | 94.6% | 95.3% | 46.2% | 81.9% | -25.0% |
| Novato | $285,500 | $306,089 | 14 | 78 | 93.1% | 97.0% | -14.8% | -5.4% | 100.0% |
| San Rafael | $290,000 | $350,351 | 17 | 139 | 80.9% | 91.9% | 5.5% | 5.2% | 88.9% |
| Sausalito | $485,000 | $485,000 | 1 | 172 | 93.4% | 97.2% | -39.4% | -41.5% | -85.7% |
| Tiburon | $1,400,000 | $1,400,000 | 1 | 183 | 86.2% | 91.8% | 98.6% | 86.5% | -80.0% |