When considering both single family homes and condos, list prices in Marin Countgy were down by 10% and sales prices were down 9% from the previous quarter, but this may in large part be due to the fact that a much larger percentage of sale were condos – 30% in Q3 vs 24% in Q2. Homes sold on average for 4% over their list prices.
Still, prices of single family homes stayed flat or dropped in most Marin towns in Q3. Condos, on the other hand surged upwards across the board. The median price of single family homes that sold fell from $1,312,500 to $1,225,000, a drop of 7% for the quarter, though they were up by 3% from the same quarter a year ago. The median price of condos that sold was $615,000, up by 10% from Q2 and up 3% from a year ago.
It remains a Sellers Market in homes priced under $1,250,000. The segment above $1,250,000 remains a Balanced Market.
The Days on Market has gone up from 28 to 34 indicating a bit of a slowdown in the velocity of sales.
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Peter Nielsen, Broker