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November Marin Real Estate News

Bay Area Real Estate Sales.com Newsletter

November 2007

 

IN THIS ISSUE:

Marin Home Sales Statistics

House Prices Up? Home Prices Tumble??

What Did Your Neighbors' House Sell For?

Search The Marin MLS For A New Marin Home

What To Look For In A Final Walk-Through Inspection

What Do Liz's Clients Say?

Fast Facts

 

 

MARIN HOME SALES STATISTICS

 

Recent homes sales even though increasing from prior months are still dismal compared to what we have seen in the 5 previous years. There are thirteen towns in the county that we track and all of them are not showing signs of robust home sales. Sales for October in all of the 13 cities and the Total number of homes listed for sale are as follows:

 

The number of homes on the market in San Rafael and Novato account for 53% of the total homes actively being markets for sale. The activities in these two areas are extremely low with the percent in contract at 24% for San Rafael and 15.6% for Novato. The Novato percent in contract is one of the lowest I have seen in 5 years. This accounts for some of the turmoil in the Novato market.

On a general note in Marin County, the widening of 101 will be complete in 2008, adding four lanes from the Golden Gate Bridge to Novato. Once this is complete it will open up lots of the congestion on the freeway that is being experienced due to the construction. Many buyers might rethink buying in outlying areas such as Novato if the commute is appreciably easier. Only time will tell.

 

Home sales bounced back in October from a dismal September, due to the panic in the credit markets. Sales of single-family, re-sale homes rose 26.9% from the month before, but were down 32.5% year-over-year. Year-to-date, home sales are down 5.6%.

The median price for single-family, re-sale homes in Marin County rose 0.7% in October, compared to the month before, up 7.7% year-over-year. The average price fell 10.8% from the new record set in September. Year-over-year, the average price was up 14.1%.

 

The median price for condos lost 10.6% to $565,000, again, after setting a new record the month before, and it was up 3%, year-over-year. The average price fell 8.3% to $645,813, up 10.5% compared to October 2006. Condo sales were up 36.4% from September, and off 38.8% year-over-year. Year-to-date, condo sales are down 19.1%.

 

 

MARIN HOME (CONDO + SFR) SALES STATISTICS - BY CITY AS OF 11/17/07

 

City

 

Total

 

Active

Number in Contract***

Percent in Contract*

Type of Market*

(See Key)

Belvedere

21

17

4

19%

Strong Buyers

Corte Madera

32

22

10

31%

Balanced

Fairfax

27

21

6

22%

Buyers

Greenbrae

32

22

10

31%

Balanced

Kentfield

24

19

5

21%

Buyers

Larkspur

27

23

4

15%

Strong Buyers

Mill Valley

104

80

24

23%

Buyers

Novato

352

292

60

17%

Strong Buyers

Ross

15

13

2

13%

Strong Buyers

San Anselmo

51

37

14

27%

Buyers

San Rafael

262

207

55

21%

Buyers

Sausalito

51

38

13

25%

Buyers

Tiburon

78

57

21

27%

Buyers

Others

70

56

14

20%

Strong Buyers

Total Marin 11/17/07

1,146

904

242

21.12%

Buyers

Total Marin 10/15/07

1,251

1,043

208

16.63

Strong 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