Marin County, CA. Real Estate Update — December 2009 (Homes For Sale & Price Ranges)

The Marin County, California real estate market approaches the new year with momentum. While the beginning of 2009 was terrible for sellers and the market overall, the latter half of 2009  was quite strong across many market segments, giving brokers and home owners a reason for optimism in 2010. While year over year prices are down in many price segments and locations within Marin, some areas have actually seen prices increase (albeit nominally) year over year. Indeed, I believe that many brokers feel as though absent further crisis, we are at or near the end of the downward cycle — after 3+ years.

As for bread and butter homes (e.g., priced below $1 million, at least 3 beds and 2 baths with 1,500 square feet or more), the chart below reflects the number of homes in escrow county-wide from November 2007 through November 2009 — we are up an astonishing 190%. We see increased affordability and appealing interest rates supporting this trend for the foreseeable future. 

Below is a snapshot of the current real estate market in Marin. Contact me for a detailed executive summary providing statistics and trends relating to the Marin real estate market (or any specific zip code). It is always my pleasure to be of service.

Not surprisingly, inventory dropped significantly over the past month to 471 single family homes for sale (we had over 600 last month). This includes only the Highway 101 corridor (excluding Western Marin inventory and condos).  Note to buyers: if a house is on the market during this time of year, the sellers are often quite motivated — make an offer!

By: Kyle Frazier, Broker Associate, Certified Residential Specialist (CRS), Certified Luxury Home Marketing Specialist (CLHMS), Realtor