Memorial Day - Marin Real Estate Update

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Memorial Day - Marin Report

Attached are some the latest statistics from the Marin Report.

Trends at a Glance
(Single-family Homes)
	Apr 08	Mar 08	Apr 07
Median Price:	$1,020,000	$905,000	$1,080,000
Average Price:	$1,381,584	$1,192,368	$1,395,281
Home Sales:	147	103	212
Sale/List Price Ratio:	97.1%	96.7%	98.8%
Days on Market:	75	74	56

As you can see he have seen sales of existing single family homes increase by 43% from March but are still below 2007 same period by 31%.

Below are the details by City:

April Sales Statistics
(Single-family Homes)
	Prices		Unit				Change from last year
	Median	Average	Sales	DOM	SP/OLP	SP/LP	Median	Average	Sales
Marin	$1,020,000	$1,381,584	147	75	93.5%	97.1%	-5.6%	-1.0%	-30.7%
Belvedere	$2,500,000	$2,936,333	3	100	92.3%	96.9%	-20.6%	-15.2%	-25.0%
Corte Madera	$1,275,000	$1,670,333	5	23	98.1%	98.1%	27.5%	48.2%	-28.6%
Fairfax	$812,800	$812,800	2	106	96.0%	98.9%	-6.3%	-16.3%	-30.0%
Greenbrae	$1,600,000	$1,793,333	3	13	101.6%	101.6%	28.0%	43.1%	0.0%
Kentfield	$1,700,000	$3,036,111	9	70	79.4%	92.6%	-33.6%	1.0%	-10.0%
Larkspur	$1,333,790	$1,750,895	4	58	94.5%	95.7%	1.8%	31.3%	-42.9%
Mill Valley	$1,512,333	$1,768,854	16	37	99.3%	99.9%	12.0%	11.9%	-61.0%
Novato	$615,250	$688,383	32	107	93.2%	96.7%	-20.9%	-22.9%	-15.8%
Ross	$3,100,000	$3,100,000	1	0	96.9%	96.9%	29.7%	30.3%	-66.7%
San Anselmo	$1,127,500	$1,381,436	18	42	97.1%	97.3%	3.9%	17.0%	20.0%
San Rafael	$871,000	$908,856	36	77	94.7%	97.1%	-4.3%	-12.6%	-21.7%
Sausalito	$2,400,000	$2,222,000	4	90	91.7%	96.6%	113.3%	74.1%	-55.6%
Tiburon	$1,840,000	$2,016,642	10	48	99.2%	100.0%	5.1%	-1.2%	-33.3%

We are still seeing a decrease in the number of units sold throughout the county for the month of May to date. 108 Single family homes have sold from May 1- 26 compared to 187 for the same period last year. The number of homes in contract on the other hand is increasing. There are 259 single family homes currently in contract which represents 24.2% of total homes currently marketed. When the percentage reaches 25% we are looking at a more balanced market between buyers and sellers. Sellers have gotten the message that aggressive pricing is needed to make the sale and the median and average prices we have seen in April are a reflection of buyers being attracted to seller concessions.

If you should have any questions on this data feel free to drop me a line at rparks@visionrealtors.com or call me at 415-297-9000.

Marin Real Estate Blog

Broker & CPA: Ron Parks
Telephone: 415-297-9000

Licensed by the California Department of Real Estate.
Broker's License: #01524550