It is all over the news this morning; home sales PLUNGE to levels not seen in 15 years. While this may be true nationwide the saying “real estate is local” definitely applies to Marin. Sure we have taken our hit on prices and sales and I do feel badly for those homeowners that are underwater or have lost their homes to foreclosure, however, our sales did not plunge in July.
According to the report on Huffington Post sales nationwide are down 27% from last July. In Marin sales were down 3% from last July. Year-to-date sales of Marin County Real Estate are up 21% compared to 2009. The Marin median price is also up 5% so far this year.
Even Belvedere which has a high number of listings (47), with only 2 in contract, and believe me those numbers yell OVERPRICED, is doing better than last year. So far this year there have been 18 sales compared to 13 for the same period last year. The median price is down to $808 per square foot from $941 but because it is such a small town with few sales the statistically base is too small to mean much.
Warren Carreiro, Broker