The chart below helps illustrate what has been going on in the market in the beautiful wine country town of Sonoma.
You can see in second chart (number of homes sold) when the banks stopped lending money freely-September 2007. The average sales price, as shown in the first chart, reflects the high number of distress sales. That's right... the market is taking a beating BUT it's not dead. 
I heard on KGO yesterday that about 80% of economists say that the recession is over. They are also quick to caution that the recovery will be painful.
Now that we've all more or less adjusted to the current market I am hoping that people will be creative in their efforts to find new ways to generate revenues for themselves as they find that what they used to do no longer works in this market.
Change, like growing pains, isn't always fun at the time but ends up being better in the long run. I really feel that is true in this case.
The table below shows the sales activity for Marin County and Southern Sonoma County for the month of September 2009, sorted alphabetically by the name of the City. For more detailed information about each City click on the corresponding link below.
|
City
|
# of homes sold
|
Average Days on Market
|
Average ORIGINAL Asking Price
|
Average FINAL Selling Price
|
# Sold AT Original Asking Price
|
# Sold OVER Original Asking Price
|
% of Available Listings in Escrow
|
|
5 |
61 |
$986,400 |
$916,800 |
1 |
- |
37 |
|
|
6 |
94 |
$787,833 |
$745,167 |
- |
- |
31 |
|
|
6 |
72 |
$1,120,083 |
$1,029,454 |
- |
- |
25 |
|
|
5 |
123 |
$2,672,800 |
$2,552,000 |
- |
1 |
21 |
|
|
6 |
64 |
$1,240,333 |
$1,179,600 |
- |
1 |
13 |
|
|
24 |
67 |
$1,191,152 |
$1,082,292 |
1 |
1 |
20 |
|
|
57 |
120 |
$543,678 |
$514,896 |
4 |
17 |
52 |
|
|
4 |
51 |
$3,231,500 |
$2,950,000 |
- |
2 |
16 |
|
|
6 |
129 |
$731,483 |
$667,133 |
- |
- |
26 |
|
|
42 |
103 |
$687,268 |
$633,508 |
3 |
5 |
31 |
|
|
11 |
78 |
$1,117,900 |
$1,073,182 |
- |
2 |
16 |
|
|
7 |
256 |
$3,069,857 |
$2,246,429 |
1 |
- |
6 |
|
|
|
|
|
|
|
|
|
|
|
190 |
107 |
NA |
$899,427 |
NA |
NA |
28 |
|
|
|
|
|
|
|
|
|
|
|
42 |
79 |
$481,180 |
$463,811 |
3 |
14 |
47 |
|
|
33 |
99 |
$547,628 |
$480,030 |
3 |
10 |
39 |
Please note that all Original Asking Prices are without any price reductions.
This information is current as of October 9, 2009 and the sources are BAREIS and CleanOffer.
As of October 9, 2009 only 28% of available listings are in escrow in Marvelous Marin County.
For the month of September 2009 only 190 homes sold in Marin County, for an average final selling price of $899,427.
The range of final selling prices was from a low of $99,000 to a high of $5,880,000.
Of the 190 homes that sold, 52 were a distress sale of one form or another (short sale, bank-owned, etc.)
It took these homes an average of 107 days to sell.
To see everything that is currently for available for sale on our MLS, click here.
For more information about this area visit my website or feel free to contact me directly.
As of October 9, 2009 a mere 6% of available listings in Tiburon are in escrow.
For the month of September 2009 only 7 homes sold in Tiburon, for an average final selling price of $2,246,429.
The average original asking price of these homes was $3,069,857.
The range of final selling prices was from a low of $580,000 to a high of $5,880,000.
Of the 7 homes that sold (1 of which was a distress sale) 2 sold over their orignal asking prices and all other sold for less than their original asking price.
It took these homes an average of 256 days to sell.
To see everything that is currently for available for sale on our MLS, click here.
For more information about this area visit my website or feel free to contact me directly.
As of October 9, 2009 only 16% of available listings in Sausalito are in escrow.
For the month of September 2009 only 11 homes sold in Sausalito, for an average final selling price of $1,073,182.
The average original asking price of these homes was $1,117,900.
The range of final selling prices was from a low of $480,000 to a high of $2,400,000.
Of the 11 homes that sold (1 of which was a distress sale) 2 sold over their original asking prices and all others sold for less.
It took these homes an average of 78 days to sell.
To see everything that is currently for available for sale on our MLS, click here.
For more information about this area visit my website or feel free to contact me directly.
My philosophy is simple: Under Promise. Over Deliver. As a native and lifelong resident of this community, my reputation is everything, therefore my clients' best interests are everything.
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