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M 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.
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Marin County |
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June 2007 |
June 2008 |
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| 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 |
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May 2007 |
May 2008 |
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| 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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Sylvia.....great stuff on the marin market and yes real estate is local.