Marin County Real Estate Two Month Closed Home Sales Report – May/June 07’/08′

Marin County Association of Realtors released the two months closed sales comparison report for the months of May and June, 2007 vs May an June, 2008. 

From the report, sales volume for 2008 is about 1/3 off from those of 2007.  The average price dropped by 10+% and the Days on Market is up 20%.  Median price also see a 10% drop.  The average and adjusted average (after weeding out the two extreme) are pretty similar. 

All the numbers are relatively even through May 2008, but in June 2008, we see the drops mentioned above.  

One of the explanation might be the increase in short sales at the lower end of markets, which tends to stay on market much longer than normal sales, they also drive the median and average sale price lower.  However, the higher end homes tend to stay in demand due to the superior Marin location.

Real Estate is Local, which is especially true in Marin county where many areas (mostly Souther Marin, all pice range, seemly protected by the local micro real estate market  – tend to stay vibrant!

Make sure you ask your Realtor about the specific area you are interest before jumping into conclusion by numbers.

 

Marin County
Two-Month Closed Home Sales Report
All Residential Homes Sold

June 2007

June 2008

TOTAL PROPERTIES SOLD:  292 TOTAL PROPERTIES SOLD: 217
List Price Sale Price DOM List Price Sale Price DOM
AVERAGE: $1,224,694 $1,210,890 62 AVERAGE: $1,177,288 $1125,216 80
MEDIAN: $989,000 $973,000 36 MEDIAN: $879,000 $865,506 59
HIGH: $6,000,0000 $6,000,0000 590 HIGH: $7,495,000 $6,100,000 430
LOW: $32,000 $25,000 0 LOW: $34,000 $19,000 0
ADJ. AVG.: $1,212,341 $1,198,465 61 ADJ. AVG.: $1,153,221 $1,107,223 80

May 2007

May 2008

TOTAL PROPERTIES SOLD: 210 TOTAL PROPERTIES SOLD: 145
List Price Sale Price DOM List Price Sale Price DOM
AVERAGE: $1,239,863 $1,223,925 60 AVERAGE: $1317,524 $1,279,555 68
MEDIAN: $895,000 $880,000 34 MEDIAN: $980,000 $969,000 45
HIGH: $9,400,000 $7,950,000 521 HIGH: $11,500,000 $9,750,000 338
LOW: $49,000 $49,000 0 LOW: $99,000 $87,000 0
ADJ. AVG.: 1.217,381 $1,206,018 60 ADJ. AVG.: $1,2,74,428 $1,244,161 68

Statistics from BAREIS MLS® February 8, 2008. Information herein believed reliable but not guaranteed.
Copyright @ 2008 by Bay Area Real Estate Information Services, Inc. All rights reserved.

Adjusted average does not include the high and low sale data.

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