The month of may 09 compared to May 08 show the following:

The important statistics are below:

I believe the market will still show signs of sluggishness and volatility in units sold and sales price. I think we will be seeing the median sales price continue to fluctuate without any clear roadmap for improvements for the remainder of the quarter and into the third quarter.

The following chart shows the number of single family homes for sale, in contract, and sold by month from April 2008 to April 2009. A positive trend to watch is the percentage move for homes “UC” under contract.

The next graph shows median price changes by month. We see the median price is down from April 2008 to April 2009 by almost 20%. We do see a slight increase in the median price from March 2009 to April 2009.

A great deal of the low end price homes is being purchased by investors but don’t be fooled. Many buyers who plan to occupy the house are also buying. They see that prices have come down in those areas by 30-40% and they are compelled to make a move. Two years ago these buyers could not afford those homes.

The market is in the doldrums for Marin County homes over $2 million. The high end buyers are not yet compelled to make moves on those properties unless they need a home. Money itself is not the issue but the realization that there could be another decline in the high end home values are keeping them away. If you are in the market for a home over $2 Million you have a great buying opportunity as those sellers who have listed their homes need to sell otherwise they would be waiting for the market to stabilize. There is a population of those sellers that have a low basis in the house so selling now is also a good idea.

Below is the most recent data for Marin home sales.

I have this data available for every city in Marin and also for all of San Francisco. If you are interested just drop me a note or a phone call.

Homes priced under $850,000 are selling with at times multiple offers. Homes above the $2,500,000 range are also selling in selected markets. The mid-market in Marin is not moving. Marin Real Estate has intrinsic value in down markets but since we have had price declines in some areas of 20% and more it is hard to imagine that recession conscious buyers will jump in all at once until there is evidence that prices have stabilized. Buyers who think the bottom in Marin real estate prices have come and gone are plunging in but the majority of mid-range buyers are taking their time.

In speaking with many Marin County mortgage brokers and other Marin real estate agents getting a loan is not an easy task. The approval guidelines have been strengthened in the benefit of the banks and 20-25% cash down is almost the norm.

The most important advice I can give you is to look at all of the statistics on my website and speak with the most knowledgeable Marin real estate broker you can find. If you want specific data on homes in your neighborhood please feel free to call me at 415-297-9000 or email me at rparks@visionrealtors.com.