The Marin real estate market continues to be active, which is always encouraging. But what is really interesting is the contrast in the data. More homes sold in January 2010 than January 2009. 113 single family residences sold, as opposed to 82 the year before. That's almost 39% more homes sold this January. Conversely, the median price of homes in January 2010 is down to $640,000, compared to $750,000 in January 2009. That's a decline of nearly 15% from last year, as reported in the Marin Independent Journal.
While this surprised some people, these results suggest that folks are focused on homes under $1 million, where financing is more readily available, and more people have the ability to qualify for loans. Plus, homebuyers are looking for discounts on houses, and perceive homes in that price range as the place where good deals exist with short sales, foreclosures and REOs. It's difficult to predict where the market will go from here, but perhaps the best deals will be found in high-end real estate this year.
For advice on buying or selling your home in Marin, or a free market analysis complete with comps, contact Jonathan B. Jacobs.