Home
Market Trends:
Cities:
Schools
Recent Sales
Find a Home
Relo Guide
Financing
Selling
Testimonials
RE FAQ's
Downloads
Feedback
|
Homes Sales for Marin Fall to Lowest Level in Twenty Years
Sales, including homes and condos, jumped in all six of nine counties in the Bay Area. The Marin real estate market was one of the
few counties where home sales actually dropped. Home sales for Marin were the lowest on record in twenty years.
In the Bay area, home prices dropped almost forty-five percent last month compared to the previous year. Foreclosures made up for fifty percent
of all sales. The amount of foreclosures on the market drove down the median price from more than $585,000 to $330,000. However, homes sales
were up more thirty-five percent compared to 2007.
Last year, California led the way when it came to foreclosures having more than any other state in the country, with over five hundred thousand. The banks took over
eleven billion dollars worth of real estate through the third quarter. Foreclosures amounted to nearly 1/2 of all sales in November. The number does not include
the amount of homes that were distressed and were being sold to avoid foreclosure.
The San Francisco real estate market had its lowest level of sales, of homes and condos, in December since 1990.
Marin Real Estate Blog
|
