The median home sale price in Larkspur was $1,929,500 in January 2008. The stats look very similar to January of 2007, with two fewer homes sold.
| Larkspur Homes |
Jan 2007 | Jan 2008 |
∆ |
% ∆ |
| For Sale | 11 | 10 | -1 | -9.09 |
| Under Contract | 1 | 1 | 0 | 0.00 |
| Sold | 4 | 2 | -2 | -50.00 |
*Single family homes only
The median home sale price in Corte Madera was $850,000 in January 2008. The number of homes on the market decreased almost 22% from one year ago. The number of Corte Madera homes under contract dropped almost 90% with just one home going under contract while the number of Corte Madera homes sold stayed the same as January 2008..
The average days on the market in Corte Madera was 13, down almost 75% from January 2007.
| Corte Madera Homes |
Jan 2007 | Jan 2008 |
∆ |
% ∆ |
| For Sale | 23 | 18 | -5 | -21.74 |
| Under Contract | 9 | 1 | -8 | -88.89 |
| Sold | 2 | 2 | 0 | 0.00 |
*Single family homes only
The median home sale price in San Anselmo was $1,000,000 in January 2008. The number of homes on the market decreased just over 30% from one year ago. The number of San Anselmo homes under contract dropped 27% while the number of San Anselmo homes sold increased almost 50% from one year ago.
The average days on the market in San Anselmo was 89, up from 73 days in January 2007.
| San Anselmo Homes |
Jan 2007 | Jan 2008 |
∆ |
% ∆ |
| For Sale | 45 | 31 | -14 | -31.11 |
| Under Contract | 11 | 8 | -3 | -27.27 |
| Sold | 6 | 9 | 3 | 50.00 |
*Single family homes only
The median home sale price in San Rafael was $900,000 in January 2008. The number of homes on the market increased almost 20% from one year ago, quite different from many cities in Marin County. The number of San Rafael homes under contract dropped almost 33% while the number sold dropped almost 50% from one year ago. The average days on the market in San Rafael was 80, up from 65 days in January 2007.
| San Rafael Homes |
Jan 2007 | Jan 2008 |
∆ |
% ∆ |
| For Sale | 121 | 145 | 24 | -19.83 |
| Under Contract | 36 | 24 | -12 | -33.33 |
| Sold | 29 | 15 | -14 | -48.28 |
*Single family homes only
The median home sale price in Greenbrae was $1,922,500 in January 2008. The number of homes on the market dropped almost 24% from one year ago. Only one Greenbrae home was placed under contract in January.
| Greenbrae Homes |
Jan 2007 | Jan 2008 | ∆ | % ∆ |
| For Sale | 17 | 13 | -4 | -23.53 |
| Under Contract | 9 | 1 | -8 | 88.89 |
| Sold | 6 | 2 | -4 | -66.67 |
*Single family homes only
The median home sale price in Kentfield was $1,045,000 in January 2008. The number of homes on the market dropped 11% from one year ago, a small drop in inventory compared to most of Marin County.
Kentfield is suffering from old inventory- buyers are not out writing contracts because the majority of homes on the market are homes that did not sell last year. Buyers are still out looking for nice Kentfield homes!
| Kentfield Homes |
Jan 2007 | Jan 2008 |
∆ |
% ∆ |
| For Sale | 17 | 15 | -2 | -11.76 |
| Under Contract | 2 | 0 | -2 | 0 |
| Sold | 5 | 2 | -3 | -60.00 |
*Single family homes only
The median home sale price in Fairfax, CA was $672,000 in January 2008. The number of homes on the market dropped almost 22% from one year ago, while the number of Fairfax, CA homes under contract dropped almost 60%. The average days on the market in Fairfax was 84, up slightly from 78 days in January 2007.
| Fairfax Homes |
Jan 2007 | Jan 2008 |
∆ |
% ∆ |
| For Sale | 23 | 18 | -5 | -21.74 |
| Under Contract | 10 | 4 | -6 | -60.00 |
| Sold | 3 | 4 | 1 | 33.33 |
The median home sale price in Mill Valley was $1,255,000 in January 2008. The number of homes on the market dropped almost 35% from one year ago, while the number of Mill Valley homes under contract dropped even more dramatically- almost 65%! The average days on the market in Mill Valley was 58 down substantially from 77 days in January 2007.
| Mill Valley Homes |
Jan 2007 | Jan 2008 |
∆ |
% ∆ |
| For Sale | 97 | 64 | -33 | -34.02 |
| Under Contract | 22 | 8 | -14 | -63.64 |
| Sold | 14 | 13 | -1 | -7.14 |
The median home sale price in Tiburon was $2,780,000 in January 2008. The number of homes on the market dropped dramatically from one year ago- almost 41%. The average days on the market in Tiburon was 96, up slightly from 91 days in January 2007.
| Tiburon Homes | Jan 2007 | Jan 2008 |
∆ |
% ∆ |
| For Sale | 61 | 36 | -25 | -40.98 |
| Under Contract | 7 | 4 | -3 | -42.86 |
| Sold | 3 | 4 | -1 | 33.33 |
Both houses in the Congress have approved the economic bill which includes an increase in the conforming loan limit. The bill is set to go to President Bush, and is expected to be signed by Feb 15. The bill includes a one-year increase in the conforming loan limit to $625,000 nationwide and up to $729,000 in high-cost areas such as San Francisco and Marin County for loans that government-sponsored enterprises Fannie Mae and Freddie Mac can purchase.
What this means to Marin County buyers and homeowners:
If President Bush signs the bill, buyers in the lower end of the Marin market or buyers making large down payments will have more buying power. Currently, the interest rates on jumbo loans are more than a percent higher than conforming loans. We are also likely to see a slew of refinances, which could reduce the mortgage payments of many Marin residents with loan balances currently between $417,000 and $729,000.
The increased loan limit could also provide a confidence boost for struggling areas such as Novato and parts of San Rafael, where borrowers and buyers are more likely to be positively impacted by the increase.