2008.12.29 23:06:48
Marin Medium Home Prices Drop
Dec 1st, 2008 by Ginger Wilcox
Initial November Marin home sales numbers are in. As expected, median home prices in Marin County have dropped. As of now, the median price for single family homes in Marin dropped to $805,375. (The numbers may change slightly as last minute sales are reported.) In November of last year, the Marin median home price was $1,000,000. The number of units sold was down over 41%, a dramatic drop off in sale activity.
Clearly the election and the volatility in the financial markets has had a significant impact on the Marin real estate market. Buyers who have jobs or cash are sitting pretty right now. Great interest rates, motivated sellers, and low home prices make it a great time to purchase for those who are able.
This article I came across while playing with a couple of new sites and I thought “isn’t that interesting”.
The median house price dropped 20% but was still over $800,000 and the numbers sold were down 41%.
Can you imagine what it would be like in New Zealand if our prices were so high!
Eventually one day this will be the norm for many areas of New Zealand, luckily at the moment the real estate market is such that there are only a few suburbs where prices exceed these values and currently in New Zealand we only have one suburb with an average price of over $2million dollars.
We are a lucky nation that’s for sure.