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Median Price & Homes Sales on the Rise in Marin
With the rest of the Bay Area on a downward trend when it comes to home sales, Marin County is the only one
that actually posted an increase in the median price of a home. Not only are they up, but the numbers show an
increase of nearly twenty percent from a year ago. Actual Marin home sales, on the other hand, are down from the previous year.
While the rest of the Bay Area went down in total sales from the previous month, the number of Marin homes and condos that sold, were up slightly from April's total tally. For the Bay Area, it was the slowest
month, in terms of sales, since the 80's. The Bay Area remained consistent with its median home price compared to
last month, but was down almost 25% from a year ago. Inventory has hardly wavered from last years numbers.
For the most part, Marin County steered clear of the recent subprime disaster. Areas like Novato have been hit the
hardest, but for a lot of Marin homeowners, they are largely unaffected. Instead of reducing their price, the majority
of Marin residents have the option to wait, if their home is not selling.
At this time, there are around 700 properties in Marin County that are in some state of foreclosure; Novato accounts for
almost half.
Marin Real Estate Blog
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