Marin Real Estate Pulse

Sales of residential real estate for all of Marin County were down 29% for the last quarter of 2007 compared to 2006.  I do not think that should come as a surprise to anyone.  Overall the median price is up which is somewhat misleading because there are many examples of homes that sold one or two years ago that are on the market again for a lower price. To help explain the seeming difference it is necessary to look at geographic regions within Marin County Real Estate.  Those numbers show that significantly fewer homes are selling in North and West Marin.  Home sales are also down from San Rafael South; however, the percentage decline is much smaller.  As you likely know, your Marin Realtor should tell you if you don’t, Central and Southern Marin Real Estate is more expensive than Novato and much of West Marin.

The statistics shown below are from BARIES, Marin MLS as of January 11, 2008.  I have divided Central and Southern Marin from Northern and West Marin to help explain this difference.

                                             4^th Q 2007            4^th Q 2006

All of Marin

Number of Sales                 484                         686        

Median Price*                     $878,000              $840,000

Median Square Feet          1,693                     1,677

West & Northern Marin

Number of Sales                110                         206        

Median Price*                   $630,000              $730,000

Median Square Feet         1,580                     1,635

Central & Southern Marin

Number of Sales                372                         475        

Median Price*                   $984,000              $900,000

Median Square Feet         1,773                     1,687

*Includes both Marin Single Family Homes and Condominiums.