Marin County, CA. Real Estate Update — February 2010 (Homes For Sale & Price Ranges)
The Marin County, California real estate market, which entered the new year with momentum, seems to have achieved traction. While year over year prices are down in many price segments and locations within Marin, some areas have actually seen prices increase (albeit nominally). Indeed, countywide supply and demand figures suggest an improving real estate environment as supply is down 24% and sales are up 29%, compared with last year (the numbers are for homes with at least 3 beds, 2 baths, 1,500 square feet, and priced under $1 million).
Much of the apparent strength evident today stems from the red-hot Novato market. Yet, further evidence of a strengthening market exists in the more traditionally (if not perenially) fashionable Mill Valley. Recent weeks have seen several homes in Mill Valley’s bread-and-butter price range of $1.25 million to $1.75 million sell with multiple offers and very attractive terms from a seller’s standpoint. We are hopeful that this renewed vigor sets in.
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 again over the past month to 462 single family homes for sale (I suspect we will be back up to ~650 by the end of March). The below chart includes only the 13 cities along the Highway 101 corridor (excluding Western Marin inventory and condos).
|Cities||Lowest Price||Highest Price|
|Belvedere||1.599 million||48 million|
|Mill Valley||349,000||6.5 million|
|Corte Madera||450,000||2.295 million|
|San Anselmo||595,000||5.988 million|
|San Rafael||359,900||3.95 million|
By: Kyle Frazier, Broker Associate, Certified Residential Specialist (CRS), Certified Luxury Home Marketing Specialist (CLHMS), Realtor