The pace of home sales in lower end of the real estate market in Marin County CA is doing very well despite the current economic conditions. I just brought a Condo in the market with wonderful views (see below) and it sold within 24 hours. The listing price was $525k and it is in contract very near that number.
Sausalito CA real estate has had a terrible year -34%, but homes and particularly Condos are selling fairly well albeit at price levels far below 2007 prices.
Mill Valley CA real estate is doing even better. Over 30% of the inventory on the market between $800k-$1.2m is in contract.
Tiburon CA real estate is similar to Mill valley-homes above $1.2 are selling very slowly, but homes under $1.2m are moving.
The farther you go north from the Golden Gate Bridge the lower the segment of the market is moving.
Homes in the upper price ranges are not selling very well. It is mostly due to job security and the mortgage market. As the below chart indicated, mortgage rates are very near all time lows-but jumbo mortgages are just now starting to get more affordable.
For more robust commentary on the state of the Marin CA Real Estate markets, please go to my Market Review section of my website.