Marin County Trends $500K to $1 million (Q1 to Q3 2009)

By
Real Estate Agent with Christie's Great Estates | Pacific Union International

The year 2009 in Marin County, California has been a roller coaster ride for real estate sellers, buyers, and agents. To the extent that trends can be identified, they have proven particularly ethereal and fleeting.

Nonetheless, it does appear that the one market sector that has shaken out this year is the entry level single family home market. Prices appear to have hit bottom in Novato's (Northern Marin) sub-$500K sector. Seemingly, most agents agree that to find a "livable" home in a good neighborhood is very difficult to find under $500K. Inventory in that price band is slim and quickly put into contract.

The below table examines the first 3 quarters of this year as compared to 2007 & 2008. While volume, total sales, and prices are down significantly from 2007, volume and total sales are up from 2008 (although prices are down incrementally in this price band).   

Note that this table does not include a lot of the low end Novato inventory discussed above. Importantly, this exclusion helps to show that a bottom is forming outside of Novato's entry level price band. 

Marin County ($500K to $1 million)

 

Jan. – Sept. 2007

Jan. – Sept. 2008

% Change

Jan. – Sept. 2009

% Change

Volume

$559,167,393

$415,321,251

-25.73%

$465,783,695

12.15%

Homes Sold

764

562

-26.44%

635

12.99%

Avg. Days on Market

68

84

23.53%

105

25%

Median Price

$790,000

$740,000

-6.33%

$726,000

-1.89%

Average Price

$784,000

$739,000

-5.77%

$733,000

-.81%

By: Kyle Frazier, CRS, CLHMS, Broker Associate | Christie's Great Estates - Morgan Lane International Realtors | Kentfield, CA. (415) 350-9440.

Posted by

Kyle Frazier | (415) 350-9440 | Kyle@ImagineMarin.com

Broker Associate, J.D. | Certified Residential Specialist | Certified Luxury Home Marketing Specialist | DRE 01405738
Pacific Union International & Christie's Great Estates -- Marin County, California

 

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