Marin Real Estate - Marin County Real Estate Update June 2008

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Marin County Real Estate Report

It is June 22 here in Marin and the market has taken a turn for the better. We have seen increased activity on all fronts and especially in Southern Marin. Median and average prices are up. Here are some of the stats for the month ending May 2008:

Trends at a Glance (Single-family-Homes)
	May 08	April 08	May 07
Median Price	$1,109,000	$1,020,000	$1,035,000
Average Price	$1,469,910	$1,381,584	$1,391,841
Home Sales	166	147	240
Sale/List Price Ratio	96.9%	97.1%	98.8%
Days on Market	66	75	57

As you can see we are down by 30.8% in the number of units sold as compared to the same period last year in Marin Single Family Homes. We are up by 12.9 % from the prior month. This is the first month we have seen an increase in the number of units sold.

Below is the % of listings in escrow in each Marin County city for single family homes. Anything over 25% in contract is a very healthy market in that area. Anything below 20% is a buyer's market and you will see a correlation in slow sales and high days on market.

		# in	% in
City	# Listed	Contract	Contract
Belvedere	21	4	16%
Corte Madera	36	11	23%
Fairfax	43	6	12%
Greenbrae	19	6	24%
Kentfield	30	8	21%
Larkspur	29	4	12%
Mill Valley	147	40	21%
Novato	329	75	19%
Ross	18	4	18%
San Anselmo	76	16	17%
San Rafael	246	56	19%
Sausalito	32	7	18%
Tiburon	59	7	11%
	1,085	244	18%

Even though we have an increase in the number of units sold, the total number of units on the market is still high and most of those are sitting idle for many more months than we have seen over the past 6 years.

If you should want any detailed information about these numbers or are in search of properties in these areas please email me 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