Down 25 But Up 6

Down 25 but up 6 – those are the latest stats for the Marin housing market, according to the this MarinIJ article. 

For the month of November, sales of Marin homes, like other surrounding bay area counties are shifting into low gear.  Compared with the numbers of one year prior, the stats are down by 25%.  This November – a total of 160 homes found new owners while twelve months prior, 214 homes exchanged hands.

While home sales are slowing, the median home price for the month of November rose 6%, compared to the median home price of November 2006.  Last month stats showed the register ringing up a $975,000 median home price, which is up from $920,000 same time last year. 

While these data points show that while the Marin market is not as active has it has been in the past, home prices have not been pressured to come down.  However, keep in mind that it’s also best to look at trends over time – and not one month compared to the same month a year prior.  As high priced homes and seasonality both play a role in determining the number of sales and the median home price.

The 2007 prices reported by the MarinIJ, who gets their stats from DataQuick, showed a $978,000 median home price for October, $860,000 for September, $1,000,000 for August, $950,000 for July and $1,125,000 for June .  Evaluating it on a month to month – there’s quite a bit of up and down.  Basically - give the number some credit – but it’s not the end, all be all to what’s happening in Marin.