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Marin Real Estate

Bay Area Real Estate Sales.com Newsletter

August 2006

 

IN THIS ISSUE:

 

Marin Home Sales Statistics

Home sales hit 11-year low in Marin

What are the risks of remodeling without permits?

Luxury Home Values Rise in Second Quarter of 2006

What do Liz’s Clients Say?

Fast Facts

 

 

Marin Home Sales Statistics

 

The overall Marin home sales market continues to cool according to the following statistics.

 

These statistics show how many homes are available for sale in Marin, and of those how many are currently in contract (either pending or contingent).  For the 3rd  month in a row, the average overall Marin market continues to be a Buyers Market.   

 

Interestingly enough, homes again priced under $500,000 are sitting on the market longer and are currently in a “Strong Buyers” Market.  Homes priced from $500,000 to 2,499,000 are in a “Buyers Market”;   Probably the most interesting factor this August, is the fact that higher priced homes ($2,500,000 to $2,999,999) are in a “Balanced Market!”  To me, this seems to mean that buyers in the higher end of the Marin real estate market are not affected as much by the increase in interest rates, as they are more likely to be making their home purchases with more cash as compared to mortgages.

 

This month, every town in Marin is in some type of “Buyers Market”, with the exception of Larkspur and Mill Valley, which are in a “Balanced Market.”

 

Days on Market (DOM) and price changes when sold:  The Average DOM for July is 73 days (a full 10 days longer than last month’s 63 days for July) and the Median is 56. 

 

Sold price changes as compared to the original list price based on DOM.    Although homes are sitting on the market for longer, prices are not dropping dramatically.  For example, Year-to-date, homes that have “sat” for 121+ days the eventual sales price is still 95% of the original list price.  Selling within 90 days, it is 97% of the original list price.  Houses that are selling within 30 days of their listing date are still selling at or slightly above their list price.  This factor alone shows how important it is to price your property correctly when it’s first listed for sale.

 

If you know of anyone who would like to receive this monthly newsletter or is thinking of either buying or selling a home please let me know.   I’d love your referrals!

 

 

MARIN HOME SALES STATISTICS - BY CITY AS OF 8/18/06

 

City

 

Total

 

Active

Number in Contract***

Percent in Contract*

Type of Market*

(See Key)

Belvedere

18

16

2

11%

Strong Buyers

Corte Madera

41

30

11

27%

Buyers

Fairfax

35

28

7

20%

Strong Buyers

Greenbrae

25

21

4

16%

Strong Buyers

Kentfield

31

26

5

16%

Strong Buyers

Larkspur

23

16

7

30%

Balanced

Mill Valley

156

109

47

30%

Balanced

Novato

349

256

93

27%

Buyers

Ross

27

23

4

15%

Strong Buyers

San Anselmo

57

45

12

21%

Buyers

San Rafael

305

230

75

25%

Buyers

Sausalito

84

70

14

17%

Strong Buyers

Tiburon

92

73

19

21%

Buyers

Others

103

86

17

17%

Strong Buyers

Total Marin 8/18/06

1,346

1,029

317

23.55%

Buyers

Total Marin 7/13/06

1392

1077

315

22.63%

Buyers

Total Marin 6/16/06

1323

959

364

27.51%

Buyers

Total Marin 5/18/06

1,177

817

360

31%

Balanced

Total Marin 4/10/06

977

629

348

36%

Sellers

Total Marin 3/15/06

894

597

297

33%

Balanced

Total Marin 2/20/06

782

520

262

34%

Balanced

Total Marin 1/8/06

611

449

162

19%

Strong Buyers

Total Marin 12/23/05

622

504

118

15%

Strong Buyers

Total Marin 11/27/05

961

655

306

32%

Balanced

Total Marin 10/14/05

1,086

730

356

33%

Balanced

Total Marin 9/11/105

1,012

651

361

36%

Sellers

Total Marin 7/15/05

1,030

616

414

40%

Sellers

Total Marin 5/25/05

940

503

437

46%

Strong Sellers

 

MARIN HOME SALES STATISTICS - BY PRICE RANGE AS OF 8/18/06

 

Price

 

Total

 

Active

Number in Contract***

Percent in Contract*

Type of Market*

(See Key)

$100,000-$499,999

125

104

21

17%

Strong Buyers

$500,000-$749,999

283

202

81

29%

Buyers

$750,000-$999,999

338

257

81

24%

Buyers

$1,000,000-$1,499,999