Marin Real Estate Trends (July 2008)

July 8, 2008 by  

Whatever wrenches, potholes, u-turns, and other impediments to a prosperous 2008 real estate market recovery we encounter in local (and especially national) media, the engine keeps on running in Marin County, California, where we continue our annual journey onwards and upwards — with some notable exceptions. We just don’t see the wild down-swings in pricing like other parts of the country (click HERE for my recent article on Fundy Markets). I know many of us feel blessed for the good fortune of finding our way here … and we should (click HERE for last week’s Forbes article discussing Marin Schools).

As reported last month, Marin 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 also pretty amazing–the average asking price for single family homes sold is $2.125 million (excluding Novato) and even in Novato that number is $958,000.

We currently have 781 active listings (down from 821 in June 2008). While the Summer is our slow season, buyers continue visiting open houses en mass.

[…click here for the rest of the report courtesy of NorthBayRE.com.]

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