Marin County Real Estate Update–June 2008 (Homes For Sale & Price Ranges)

Marin County, California, was the ONLY county in the entire Bay Area to have a year-over-year increase in median price last month (prices were up 5.8%) according to DataQuick which surveys all recorded sales. The numbers for the HWY 101 corridor covered by this update are pretty amazing–the average price for single family homes sold in May 2008 was $1.493 million and if you exclude Novato that number increases to $1.647 million. We currently have 815 active listings (down from 881 in May 2008). This time of year historically sees an up-tick in listings as families leave town for vacations, etc. Yet, buyers are visiting open houses in droves. Reports of multiple offers continue. And even though the number of homes sold has decreased slightly, sellers are holding fast to their prices (particularly in Southern Marin). While interest rates are creeping upwards (as I have warned about for months now), they remain at historically low levels making it a fantastic buying atmosphere (especially in Novato and San Rafael where prices are still in flux)–if you are interested in up-to-the-minute rates, contact me.  

The graph below breaks down the current number of homes (not including condos) for sale in Marin County, California, in June 2008, along with the price ranges for each town/city. 

Marin Single Family Homes For Sale

Some observations: Belvedere requires nearly $2.4 million at the entry level. Tiburon boasts five homes in the $10 million and up range. At the other end of the spectrum, Novato has over 50 homes under $600,000. Investors are active (again, amazing rates right now) and all signs point to a healthy market in Marin County in coming months. 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.