The most significant development in the Marin County real eatate market in Q2 (April-June) is that the number of homes that sold was up 50% from the same quarter a year ago. This can be taken as an indicator that potential buyers who have been on the sidelines watching the market deteriorate have decided that now is the time to buy - while prices are still down from a year ago, and interest rates remain low.
Prices for single family homes are down by 5% from a year ago and the prices for condos are down 18% from a year ago. For single family homes, the comparison to the previous quarter (Jan-March) tells a different story. Prices are up 11%, which validates the decision of more buyers to act now. The median price of a single family home in Q2 was $780,000. Condos are a different story, with a median price of $302,500, down 7% from Q1 representing a continuing drop in prices.
There are 209 distressed properties for sale in the county - bank-owned, short sales or in some stage of foreclosure - representing 20% of all listed homes.
For the complete report and to see the price levels and trends for Belvedere/Tiburon, Corte Madera/Greenbrae/Larkspur, Fairfax/San Geronimo Valley, Kentfield/Ross, Mill Valley, Novato, San Anselmo, San Rafael and Sausalito, click here.
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