Marin 3 Years into Recovery

Paragon Real Estate Group
 
Paragon Real Estate Group

The Marin County Real Estate Market

3 Years into the Recovery

January 2015, Paragon Real Estate Group

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Marin Home Sales & Values











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The Luxury Home Market

Marin County has one of the most expensive home markets in the country and its highest-priced segment has seen significant growth since the recovery began in early 2012. Such sales are concentrated in certain communities.





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Real Estate Cycles

The chart below illustrates in a simplified manner the market cycles of the past 30+ years. It is based on the S&P Case-Shiller Index pertaining to Bay Area "high-price tier" homes, the segment which dominates the Marin County market. We are approximately 3 years into the current recovery. Since the 1980's, recoveries have typically lasted 5 to 7 years before peaking - which isn't necessarily how this cycle will play out.



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Sales with and without Price Reductions

Those Marin listings that recently sold without price reductions sold relatively quickly and averaged a sales price 1% above the asking price. Those listings that went through one or more price reductions before selling saw large discounts off original list price and, on average, took 81 days longer to sell. And a good percentage of listings didn't sell at all. Even in a strong market, correct pricing, preparation and marketing remain vitally important to achieve the best possible result when selling one's home.



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Months Supply of Inventory

The supply and demand dynamic continues to favor sellers, which, of course, has been a primary factor behind home-price appreciation.



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Mortgage Interest Rates



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How the Bay Area Spends its Money

On a lighter note, and to take a break from real estate, these two charts, which we've just added to our recent Bay Area Demographics Report, compare how we spend our money as compared to national averages.






Please call or email if you have any questions or comments regarding these analyses.

Fluctuations in median sales prices and average dollar per square foot values are not unusual and these fluctuations can occur for other reasons besides changes in value, such as seasonality; inventory available to purchase; availability of financing; changes in buyer profile; and changes in the distressed and luxury segments. How these statistics apply to any particular property is unknown without a specific comparative market analysis. All data from sources deemed reliable, but may contain errors and is subject to revision. Header photograph by A. Gunther, use by permission under Creative Commons.

(c) 2015 Paragon Real Estate Group
 
No one knows Bay Area real estate better than Paragon.
Paragon Real Estate Group
(415)738-7000 | (415)565-0500 | www.paragon-re.com/
Patricia Carapiet
Lic# 00895957
1400 Van Ness Avenue
San Francisco, CA 94109
Direct (415) 738-7218
Cell 415.990-9125
pcarapiet@paragon-re.com
http://www.patcarapiet.com/
 
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