12 Feb Novato CA Real Estate Market Update 2009 Review
Marin Real Estate
In the last 44 years, there have been only two years (excluding 2008 & 2009) when average home prices in Marin County have decreased from one year to the next: -1.2% in 1991 and -1.4% in 1992â€“ after the S&L crisis.
Marin County average residential home prices fell -12.7% in 2008 and -21% in 2009.Â Â
Â A unit-sale weighted average of Southern, Central & Northern Marin show Southern Marin prices are down -17.4%, Central Marin down -13.1%, and Northern Marin down -18.4% from 2008 levels.
For much more more information from a mile high perspective please see right nav bar, click & read â€œMarin Updateâ€.
47% of the homeÂ on the market inÂ Novato are in contract– any number over 20% indicates a healthy market and any number over 30% indicates a sellers market. The current number of 47% of the homes currently on the market in contract is improbably high given the fragile state of the economy, the state budget crisis. In the book “Extraordinary Popular Delsions & The Madness of Crowds” the author documents many historical instancesÂ such as the Tulip ManiaÂ where humans act in unison– the demand hitting various towns in Marin is another instance of this and the patient buyer is advised to sit tight for a few months unless they find the absolutely perfect house.
The market research you see here is just part of the data we compile to assist our clients in buying and/or selling homes at the most attractive prices. Information is power and we use this data better than any other agents in the area to save our clients money. Please call Dave for more information 415-867-6611 and please go to our team web page at http://www.thedupontgroup.net/.
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