The median price for single-family, re-sale homes reversed course again in March, rising 9.9% from February. Year-over-year, the median price is down 21.2%.
The following chart tracks each property sale from March and shows the percentage of the listing price the seller received compared to how many days the property was on the market.
The chart shows that properly priced homes sell quickly and for close to, if not more than, their asking pricing.
Condo sales were up 6.3% year-over-year. Year-to-date, condo sales are up 24%. The median price for condos in Marin County fell 7.8% from February, a drop of 48.2% compared to March 2008.
If you have any questions please call me at 415-250-4929 or drop me an email.
The real estate market is very hard to generalize. It is a market made up of many micro markets. For complete information on a particular neighborhood or for an evaluation of your home's worth, call me.
If I can help you devise a strategy, call or click the buyers or sellers link to the top.
The sales price to list price ratio fell 0.6 of a point to 93.3%. The number of days it took to put a home into escrow rose sixteen to 102 days in March
To read this entire stats article visit the link on my website here:
FORECLOSURES/BANK OWNED AND AUCTION PROPERTIES AS OF 4/24/09
I get asked all the time to look for deals, as buyers want to purchase a "Foreclosed Property" or are looking for homes that are 50% of their value (as many parts of the country have had dramatic price reductions). As I've mentioned, in my many newsletters, Marin is made of of many Micro areas where home values have clearly not dropped like they have in other parts of the state/country. Yes, our prices oure down. But if you are looking for a "Foreclosure deal" be prepared that so is everyone else!
Now, let’s get into the detail on these homes and others that are on the MLS. The majority of the bank owned properties are listed on the MLS as the banks hire local real estate agents to sell the properties. In addition to these 266 bank owned there are also approximately 500 additional homes on the MLS being marketed along with these bank owned. These distressed properties will pull down the sales price for any home in the neighborhood.
To see the List of Marin Foreclosures chart click here: