Mill Valley Real Estate Market Report

Posted on February 16, 2009 by Ginger Wilcox

This market profile is a snapshot of what is happening in Mill Valley. Mill Valley home prices have continued to trend down in recent weeks. While the listing inventory in Mill Valley has been decreasing, days-on-market has been increasing. The Market Action Index has been basically flat, not providing a strong indication of the direction of the Mill Valley real estate market. Despite these numbers, Mill Valley continues to be one of the stronger real estate markets in Marin County.

Mill Valley Real Estate Market Update

There are currently 84 homes for sale in Mill Valley, California. There are 16 Mill Valley homes under contract.
Median List Price	$1,199,000
Highest Priced Mill Valley Home (single family)	$5,700,000 321 Summit, Mill Valley
Lowest Priced Mill Valley Home (single family)	$770,000 290 Morning Sun Ave, Mill Valley
Asking Price per Square Foot	$657
Average Days on Market	108
Percent of Properties with Price Decrease	43%
Percent Relisted	9%
Median House Size (sq ft)	2,160
Median Lot Size	8,001-10,000 Sq. Feet
Median Number of Bedrooms	3.0
Median Number of Bathrooms	2.3
Market Action Index	17 – Cold! Buyer’s Market

The Market Action Index answers the question:
“How’s the Mill Valley Real Estate Market?”
By measuring the current rate of sale versus the amount of inventory.
Index above 30 implies seller’s market conditions.
Below 30, conditions favor the buyer.

Mill Valley Real Estate Market Data effective as of February 15, 2009. Data provided by AltosResearch and Bay Area Real Estate Information Services, Inc. Are you a Marin real estate junkie? Sign up to receive very detailed real-time market reports in your email. Just register and let me know which neighborhoods you are interested in. Download a sample report.

San Rafael Real Estate Market Report

Posted on by Ginger Wilcox

This market profile is a snapshot of what is happening in San Rafael. San Rafael home prices in the 94903 zip code have continued to trend down in recent weeks while home prices in the 94901 zip code have stayed flat. While the listing inventory in San Rafael has been decreasing, days-on-market has been increasing. The Market Action Index has been basically flat, not providing a strong indication of the direction of the San Rafael real estate market.

San Rafael Real Estate Market Update

There are currently 180 homes for sale in San Rafael, California. There are 41 San Rafael homes under contract.
Area- Zip Code	94901	94903
Median List Price	$889,500	$699,000
Highest Priced San Rafael Home (single family)	$4,500,000 349 Bay Way, San Rafael	$6,500,000 1677 Lucas Valley Rd, San Rafael
Lowest Priced San Rafael Home (single family)	$375,000 117 Auburn Street, San Rafael	$379,900 842 Rincon Way, San Rafael
Asking Price per Square Foot	$450	$407
Average Days on Market	126	149
Percent of Properties with Price Decrease	39%	49%
Percent Relisted	9%	2%
Median House Size (sq ft)	2,047	1,833
Median Lot Size	8,001-10,000 Sq. Feet	8,001-10,000 Sq. Feet
Median Number of Bedrooms	3.8	4.0
Median Number of Bathrooms	2.4	2.0
Market Action Index	14- Cold! Buyer’s Market	15- Cold! Buyer’s Market

The Market Action Index answers the question:
“How’s the San Rafael Real Estate Market?”
By measuring the current rate of sale versus the amount of inventory.
Index above 30 implies seller’s market conditions.
Below 30, conditions favor the buyer.

San Rafael Real Estate Market Data effective as of February 15, 2009. Data provided by AltosResearch and Bay Area Real Estate Information Services, Inc. Are you a Marin real estate junkie? Sign up to receive very detailed real-time market reports in your email. Just register and let me know which neighborhoods you are interested in. Download a sample report.

Larkspur Real Estate Market Report

Posted on by Ginger Wilcox

This market profile is a snapshot of what is happening in Larkspur. Larkspur home prices have continued to trend down in recent weeks. While the listing inventory in Larskpur has been decreasing, days-on-market has been increasing. The Market Action Index has been basically flat, not providing a strong indication of the direction of the Larkspur real estate market.

Larkspur Real Estate Market Update

There are currently 23 homes for sale in Larkspur, California. There are 4 Larkspur homes under contract.
Median List Price	$1,289,000
Highest Priced Larkspur Home (single family)	$2,750,000 95 Elm, Larkspur
Lowest Priced Larkspur Home (single family)	$719,000 195 Marina Vista, Larkspur
Asking Price per Square Foot	$665
Average Days on Market	134
Percent of Properties with Price Decrease	61%
Percent Relisted	17%
Median House Size (sq ft)	2,257
Median Lot Size	6,501-8,000 Sq. Feet
Median Number of Bedrooms	3.0
Median Number of Bathrooms	2.6
Market Action Index	13 – Cold! Buyer’s Market

The Market Action Index answers the question:
“How’s the Larkspur Real Estate Market?”
By measuring the current rate of sale versus the amount of inventory.
Index above 30 implies seller’s market conditions.
Below 30, conditions favor the buyer.

Larkspur Real Estate Market Data effective as of February 15, 2009. Data provided by AltosResearch and Bay Area Real Estate Information Services, Inc. Are you a Marin real estate junkie? Sign up to receive very detailed real-time market reports in your email. Just register and let me know which neighborhoods you are interested in. Download a sample report.

Kentfield-Greenbrae Real Estate Market Report

Posted on by Ginger Wilcox

This market profile is a snapshot of what is happening in Greenbrae & Kentfield. Home prices have trended down in recent weeks. While the days-on-market has been increasing, listing inventory has been decreasing and the Kentfield-Greenbrae Market Action Index has been on the rise, signally positive indications for the Kentfield-Greenbrae real estate market.

Kentfield-Greenbrae Real Estate Market Update

There are currently 33 homes for sale in Kentfield & Greenbrae, California. There are 7 homes under contract.
Median List Price	$2,675,000
Highest Priced Home in Kentfield-Greenbrae (single family)	$6,950,000 30 Toussin Ave, Kentfield
Lowest Priced Home in Kentfield-Greenbrae (single family)	$899,000 44 Corte Morada, Greenbrae
Asking Price per Square Foot	$732
Average Days on Market	139
Percent of Properties with Price Decrease	13%
Percent Relisted	9%
Median House Size (sq ft)	3,579
Median Lot Size	0.25-0.50 acre
Median Number of Bedrooms	4.0
Median Number of Bathrooms	3.2
Market Action Index	14 – Cold! Buyer’s Market

The Market Action Index answers the question:
“How’s the Kentfield-Greenbrae Real Estate Market?”
By measuring the current rate of sale versus the amount of inventory.
Index above 30 implies seller’s market conditions.
Below 30, conditions favor the buyer.

Kentfield-Greenbrae Real Estate Market Data effective as of February 15, 2009. Data provided by AltosResearch and Bay Area Real Estate Information Services, Inc. Are you a Marin real estate junkie? Sign up to receive very detailed real-time market reports in your email. Just register and let me know which neighborhoods you are interested in. Download a sample report.

Fairfax Real Estate Market Report

Posted on by Ginger Wilcox

This market profile is a snapshot of what is happening in Fairfax. Fairfax home prices are down slightly this week but have trended up in recent weeks. While the listing inventory has been decreasing, the days-on-market has been increasing and the Fairfax Market Action Index has declined, signally a downward trend for the Fairfax real estate market.

Fairfax Real Estate Market Update

There are currently 30 homes for sale in Fairfax, California. There are 3 Fairfax homes under contract.
Median List Price	$749,000
Highest Priced Fairfax Home (single family)	$2,295,000 21 Ellsworth Lane, Fairfax
Lowest Priced Fairfax Home (single family)	$299,000 305 Scenic, Fairfax (yellow tagged & uninhabitable)
Asking Price per Square Foot	$466
Average Days on Market	115
Percent of Properties with Price Decrease	39%
Percent Relisted	3%
Median House Size (sq ft)	1,728
Median Lot Size	8,001-10,000 Sq. Feet
Median Number of Bedrooms	3.0
Median Number of Bathrooms	2.0
Market Action Index	11 – Cold! Buyer’s Market

The Market Action Index answers the question:
“How’s the Fairfax Real Estate Market?”
By measuring the current rate of sale versus the amount of inventory.
Index above 30 implies seller’s market conditions.
Below 30, conditions favor the buyer.

Fairfax Real Estate Market Data effective as of February 15, 2009. Data provided by AltosResearch and Bay Area Real Estate Information Services, Inc. Are you a Marin real estate junkie? Sign up to receive very detailed real-time market reports in your email. Just register and let me know which neighborhoods you are interested in. Download a sample report.

Corte Madera Real Estate Market Report

Posted on by Ginger Wilcox

This market profile is a snapshot of what is happening in Corte Madera. Corte Madera home prices are down slightly this week but have trended up in recent weeks. While the days-on-market has been increasing, the listing inventory and the Corte Madera Market Action Index have been essentially flat.

Corte Madera Real Estate Market Update

There are currently 25 homes for sale in Corte Madera, California. There are 3 Corte Madera homes under contract.
Median List Price	$1,009,000
Highest Priced Corte Madera Home (single family)	$2,799,000 241 Willow Ave, Corte Madera
Lowest Priced Corte Madera Home (single family)	$525,000 208 Summit Ave, Corte Madera
Asking Price per Square Foot	$564
Average Days on Market	81
Percent of Properties with Price Decrease	50%
Percent Relisted	10%
Median House Size (sq ft)	1,723
Median Lot Size	4,501-6,500 Sq. Feet
Median Number of Bedrooms	3.1
Median Number of Bathrooms	2.1
Market Action Index	12 – Cold! Buyer’s Market

The Market Action Index answers the question:
“How’s the Corte Madera Real Estate Market?”
By measuring the current rate of sale versus the amount of inventory.
Index above 30 implies seller’s market conditions.
Below 30, conditions favor the buyer.

Corte Madera Real Estate Market Data effective as of February 15, 2009. Data provided by AltosResearch. Are you a Marin real estate junkie? Sign up to receive very detailed real-time market reports in your email. Just register and let me know which neighborhoods you are interested in. Download a sample report.

Marin Months Supply of Inventory at Record Levels

Posted on February 9, 2009 by Ginger Wilcox

In my last post about the $15,000 Home Buyer Tax Credit, I mentioned that the one of the goals behind the bill is to generate home sales that will reduce the large backlog of home inventory across the country and thus help stabilize the economy.Â Even Marin has been hit hard by the economic downturn.Â The months supply of inventory for homes and condos in Marin is at 10.4 months, meaning at the current rate of sales, it would take 10.4 months to sell the existing home inventory if no new listings came on the market.Â The challenge with these numbers is that it only reflects homes listed for sale on the multiple listing service.

As I mentioned recently, there are a large quantity of homes for sale in Marin County that are off the Marin MLS system.Â The numbers you see in the chart below are artificially low due to the large quantity of homes being marketed outside the MLS system.

If passed, the economic stimulus package could help lower end buyers in Marin get off the fence and start purchasing again.Â Stay tuned!

Marin-Real-Estate-MSI-Jan2009

Will Luxury Real Estate Market Be Hardest Hit?

Posted on January 28, 2009 by Ginger Wilcox

I was reading an article by Robert Frank (The Wealth Report) of the Wall Street Journal discussing Why Luxury Housing Could Be Hit Hardest. Many people have said the market crisis hasn’t impacted the wealthy, but has absolutely impacted Marin County.

While previous market swings (such as around the .com bust) have not made a huge impact on wealthy Marin County and the Marin real estate market, this one definitely has. Marin has a large number of residents who work in financial services and they are losing their jobs. The wealthy have lost huge percentages of their wealth in their portfolios. While many of the wealthy may not lose their homes, they are definitely holding tight to what they do have. The charts below show the dramatic difference in the lower end Marin real estate market vs. the upper end. The number of Marin homes sold under one million dollars is actually up. The over a million stats? Down 63.3%!

Marin Real Estate Sales Stats for homes under $1,000,0000

Marin Real Estate Sales Stats for homes over $1,000,0000

Clearly the luxury real estate market in Marin County is hurting, and I anticipate this trend to continue in 2009.

Mill Valley Median Home Prices vs. New Listings

Posted on January 27, 2009 by Ginger Wilcox

I was reviewing sales statistics in Mill Valley and pulled these two charts. The first chart is not anything surprising, the average days on the market of a Mill Valley home listing has been increasing while the median price of a Mill Valley home has been declining.

I then pulled the chart below which shows the number of new listings versus the median home price for Mill Valley. Median Mill Valley home prices have been declining with the number of new listings.

As new late winter/early spring listings start to come on, the question is whether the median Mill Valley home price will see some recovery OR if home prices will continue to fall.

Fairfax Real Estate Market Update-Jan 20

Posted on January 20, 2009 by Ginger Wilcox

This market profile is a snapshot of what is happening in Fairfax. Fairfax home prices are down slightly this week but have basically settled at a plateau. Listing inventory has been tightening and days-on-market has been increasing. The Market Action Index has been essentially flat.

Fairfax-Real-Estate-Jan20

Fairfax Real Estate Market Update
Median List Price	$704,500
Asking Price per Square Foot	$505
Average Days on Market	144
Percent of Properties with Price Decrease	46%
Percent Relisted	0%
Median House Size (sq ft)	1,808
Median Lot Size	8,001-10,000 Sq. Feet
Median Number of Bedrooms	3.0
Median Number of Bathrooms	2.5
Market Action Index	14 – Cold! Buyer’s Market

The Market Action Index answers the question “How’s the Fairfax Real Estate Market?” By measuring the current rate of sale versus the amount of inventory. Index above 30 implies Seller’s Market conditions. Below 30, conditions favor the buyer.

Fairfax Real Estate Market Data effective as of January 20, 2009. Data provided by AltosResearch. Are you a Marin real estate junkie? Sign up to receive very detailed real-time market reports in your email. Just register and let me know which neighborhoods you are interested in. Download a sample report.