Marin County Real Estate Update–August 2008 (Homes For Sale & Price Ranges)
Besides having good air (the best in the country, in fact), excellent schools (click HERE for last month’s Forbes article discussing Marin Schools), a relatively short commute (even the Novato commute to San Francisco will soon be improved further when the HWY 101 widening project is completed in December), lots of dedicated open space, beaches, hiking trails, proximity to Lake Tahoe, and everything else we sometimes take for granted living here, we can also be pleased that we don’t see the wild down-swings in pricing like other parts of the country (click HERE for my recent article on Fundy Markets).
We currently have 748 active listings (down from 772 in July 2008). While Summer is traditionally slower for home sales, buyers continue visiting open houses en mass. Reports of multiple offers continue, especially for aggressively priced Southern Marin homes in good locations and bank owned properties in Novato. And even though the number of homes sold has decreased significantly this year, sellers are holding fast to their prices (particularly in Southern Marin). While interest rates are generally creeping upwards, they remain at historically low levels making it a great buying atmosphere (especially in Novato and San Rafael)–if you are interested in up-to-the-minute rates or a list of homes for sale, contact me.
The graph below breaks down the current number of homes (not including condos) for sale in Marin County, California, in August 2008, along with the price ranges for each town/city.
Marin Single Family Homes For Sale
|
Town/City
|
Homes for Sale
(Active Listings)
|
Price Range
|
|
Sausalito
|
23
|
$528,000-$18 million
|
|
Belvedere
|
19
|
$2.295 million-$9.95 million
|
|
Tiburon
|
59
|
$1.175 million-$43.995 million
|
|
Mill Valley
|
100
|
$524,000-$10.25 million
|
|
Larkspur
|
16
|
$699,000-$2.495 million
|
|
Corte Madera
|
23
|
$635,000-$2.195 million
|
|
Greenbrae
|
13
|
$699,000-$3.5 million
|
|
Kentfield
|
16
|
$950,000-$7.75 million
|
|
Ross
|
13
|
$729,000-$22 million
|
|
San Anselmo
|
61
|
$599,000-$4.495 million
|
|
San Rafael
|
161
|
$419,000-$6.5 million
|
|
Novato
|
244
|
$387,000-$3.499 million
|
Some observations: Tony Belvedere costs $2.3 million at the entry level. Tiburon boasts 7 homes in the ultra-luxury $10 million and up range. At the other end of the spectrum, Novato has over 90 homes under $600,000. Investors are active (again, amazing rates right now) and all signs point to a robust real estate market in Marin County as we head into the Autumn. If you desire a list of Marin County’s best deals or more specific analysis of your neighborhood, please give me a call at (415) 350-9440.