So the market flushed with success in June and July. More sales, inventory of homes available dropped and a generally more optimistic picture of the market for real estate in Marin was upon us. After such a poor first quarter it has inspired sellers to think about selling again. Now we are in July, heading into August and things have slowed again. Remember that this is vacation time for many Marin residents, both buyers and agents and also some sellers too. We are sure that come mid August there will be more activity and sales will pick up.
We are seeing definite price drops in all areas. While Marin is not as affected by the recession as many areas and we have few foreclosures the few we do have affect the values. Keep in mind that appraisers have to work with recent sales so this affects what they can present to the bank when an offer comes in. The seller who sells right away has to be aggressive in their pricing and prepare the home well. We will be posting a blog shortly on this or for more information feel free to contact us.
The good news is the low end is selling quickly, between $900-$1300 has picked up especially in San Anselmo and there are fewer high end homes for sale as homeowners without the need to sell withdraw their homes from the market.
DOM = Days on Market. Source: BAREIS MLS: Closed sales from April 1 - June 30, 2009; residential properties; all price points. Information deemed reliable but not guaranteed.