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Marin Market Update

2009-05-19


The Marin Real Estate market is improving both in terms on the number of home sales as well as price. 25 homes in Marin went into contract over last weekend.


The market appears to moving in fits and starts—homes are selling in batches. It is too early to tell if this is pent-up demand finally hitting the market place or a new trend of buyers feeling more confident about mortgage rates, prices and their future employment prospects.


 The middle market of homes in Tiburon ($2m-$4m) has a great deal of unsold inventory, but segments of the Mill Valley Real Estate market are showing signs of stability—15% of homes priced between $1m-$1.5m are currently in contract.


There are still, and will continue to be, distressed sellers and opportunities for incredible deals—for example: a wonderful home in Sausalito, 75 Cloudview Trail, sold for $3,675,000 in mid 2007 and just recently sold for $2,100,000-- $420/sqft for a wonderful modern Sausalito view home.
Marin Real Estate is still 35% off its 2007 peak.


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