Bay
Area Real Estate Sales.com Newsletter
September 2007
IN THIS ISSUE:
Marin
Home Sales Statistics
Marin
Home Sales Drop, But Median Price Is Up
What Did Your Neighbors’ House Sell For?
Fed Cut
Rate – But What Does This Mean To You?
Cut Mortgage Payment In Half Upon
Retirement
What Do Liz’s Clients Say?
Fast Facts
MARIN HOME SALES
STATISTICS
As always, it’s
important to view the individual city and price range stats – see the chart
below for more details.
For the first time the overall Marin Home Sales market is in
a “Strong Buyers” Market.
The median price for single-family, re-sale homes in Marin County
rose 6.6% in August, compared to the month before, up 8% year-over-year. The
average price rose 2.5%, up 14.2% year-over-year.
Sales of single-family homes were down 12.3% from July, and
were off 26.4% year-over-year. Year-to-date, home sales are up 1.2%. Marin is
the only county in the Bay Area with higher home sales this year than last.
The median price for condos fell 16.9% to $490,000, a
year-over-year drop of 10.7%. The average price lost 6.4% to $633,204, up 6.4%
compared to August 2006. Condo sales rose 2.2% from July, but were down 14.8%
year-over-year. Year-to-date, condo sales are off 11.4%.
August is a vacation month and home sales typically are
slower than in other months. The activity
since Labor Day shows that buyer's are in the market.
As you can see from the summary numbers in the report,
median prices rose but the number of units sold are down over 26% from the
prior year. This is a sign of
uncertainty. Many sellers have pulled
their homes off the market and are waiting for the market to stabilize. Many buyers are having an issue with the
increased mortgage rates and are waiting for the Fed to lower the discount
rate. I will give everyone an update at the end of the month. As always, drop
me an email with any questions or call me at 415-250-4929.
I’m always searching for ways to bring my clients and
readers more local real estate statistics.
I’m pleased to announce the launch of my new Marin home Sales Statistics
page. To view, go to: Marin Real Estate
Statistics.
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 (CONDO + SFR) SALES STATISTICS - BY CITY AS OF 9/18/07
|
|
City
|
Total
|
Active
|
Number in Contract***
|
Percent in Contract*
|
Type of Market*
(See Key)
|
|
Belvedere
|
19
|
16
|
3
|
16%
|
Strong Buyers
|
|
Corte
Madera
|
30
|
21
|
9
|
30%
|
Buyers
|
|
Fairfax
|
23
|
20
|
3
|
13%
|
Strong Buyers
|
|
Greenbrae
|
21
|
20
|
1
|
5%
|
Extreme Buyers
|
|
Kentfield
|
34
|
29
|
5
|
15%
|
Strong Buyers
|
|
Larkspur
|
28
|
26
|
2
|
7%
|
Extreme Buyers
|
|
Mill Valley
|
124
|
96
|
28
|
23%
|
Buyers
|
|
Novato
|
374
|
338
|
36
|
10%
|
Extreme Buyers
|
|
Ross
|
19
|
17
|
2
|
11%
|
Strong Buyers
|
|
San
Anselmo
|
57
|
41
|
16
|
28%
|
Buyers
|
|
San Rafael
|
271
|
219
|
52
|
19%
|
Strong Buyers
|
|
Sausalito
|
54
|
46
|
8
|
15%
|
Strong Buyers
|
|
Tiburon
|
86
|
73
|
13
|
15%
|
Strong Buyers
|
|
Others
|
92
|
83
|
9
|
10%
|
Extreme Buyers
|
|
Total Marin 9/18/07
|
1,232
|
1,043
|
187
|
15.18%
|
Strong Buyers
|
|
Total Marin 8/15/07
|
1,190
|
951
|
239
|
20.8%
|
Strong Buyers
|
|
Total Marin 7/15/07
|
1,252
|
969
|
283
|
22.60%
|
Buyers
|
|
Total Marin 6/16/07
|
1,325
|
1,003
|
322
|
24.30%
|
Buyers
|
|
Total Marin 5/16/07
|
1,286
|
948
|
338
|
26.28%
|
Buyers
|
|
Total Marin 4/15/07
|
1,108
|
793
|
315
|
28.43%
|
Buyers
|
|
Total Marin 3/15/07
|
966
|
688
|
278
|
28.78
|
Buyers
|
|
Total Marin 2/15/07
|
893
|
631
|
262
|
29.34%
|
Buyers
|
|
Total Marin 1/15/07
|
720
|
548
|
172
|
23.89%
|
Buyers
|
|
Total Marin 12/15/06
|
898
|
669
|
229
|
25.5%
|
Buyers
|
|
Total Marin 11/16/06
|
1,197
|
902
|
295
|
24.64%
|
Buyers
|
|
Total Marin 10/15/06
|
1,401
|
1,095
|
306
|
21.84%
|
Buyers
|
|
Total Marin 9/15/06
|
1,395
|
1,127
|
268
|
19.21%
|
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
|
|