Home Prices Rise As Sales Slump In Marin County

Sales volume and the median home price in Marin County real estate seem to have an inverse relationship.  Home sales were down in November by more that 25 percent compared to last year, but the median price was up by 6 percent to $975,000 as compared to last year’s median price of $920,000.

This may be due, in part, to the faltering jumbo loan market that has hit Marin, as it has many areas throughout the state.  With home prices being what they are in Marin County, jumbo loans have pretty much been the order of the day. The mortgage crisis has caused lenders to become a little more cautious and these hefty loans (over $417,000) aren’t as readily available as they once were.  As the lending market stabilizes, hopefully the real estate market will do so as well – meaning that sales should pick up.  In the meantime, this cloud has a silver lining and there are real estate deals to be had.

With the exception of the high-end and luxury market, Marin County is currently a buyers market, making Marin County real estate attractive to investors and homebuyers.  Sluggish sales offer the savvy buyer some leverage in getting a good price for some pretty valuable real estate.  Historically, Marin real estate holds its value and appreciates with time.  Now just might be the time to take the plunge and buy that dream home or investment property you have been thinking about.