Marin Median Home Price: 5 Year History

Tuesday, May 19th, 2009

The number of sales and median price of Marin county single family homes has fallen dramatically over the past five years. All the numbers below are from January 1 to May 18 (YTD) for each year.

While single family sales overall are down 55% from 2005, for homes one million or more sales for the same period are down 74%. For home $500,000 or less the number of sales are up 1,300% (6 to 78).

So when we read the headlines “Median Price Plummets” don’t just assume that every house has lost half its value (some have). The truth is prices are down but what really is affecting the median price is sales at the low end have jumped while sales at the high end have plummeted. When the median price is calculated it does not take into account which homes are selling.

Number of Single Family Sales January 1 to May 18 for past five years

Year # Sales over 1M # Sales all prices # Sales under 500k
2009 107 403 78
2008 266 516 32
2007 399 755 3
2006 334 728 2
2005 414 897 6

Source: BARIES Marin County MLS

Median Marin County Price for January 1 to May 18 for each year

Year Single Family All Sales Condos
2009 $740,000 $625,000 $275,500
2008 $1,037,500 $875,000 $500,000
2007 $1,024,000 $880,000 $558,000
2006 $963,000 $865,000 $550,000
2005 $949,000 $840,000 $537,000

Source: BARIES Marin MLS

Information deemed correct but not guaranteed.