Marin median home price slips below $1MM

Today, the Marin IJ reported that the Marin median home price has fallen back below the $1MM mark. According to the IJ, the median price presently stands at $950,000, down from June’s $1,125,000. While our numbers differ slightly, it does appear that the record-breaking run over the last several months has indeed ended.

Despite the drop, Marin remains one of the strongest housing markets in the U.S. The median is still 3% higher than last year and sales remain robust.

> From the Marin IJ...

Marin's median single-family home price fell back to $950,000 last month, still higher than this time last year, but below last month's record $1.125 million.

"The median has bounced around a little bit," said Valerie Castellana, president of the Marin Association of Realtors. "The homes at the higher end definitely drove the median up in the spring and again when it hit it (the $1 million mark) in June. With the lending crises or problems, the buyers that are struggling a bit are at the lower end of the market."

The total number of Marin homes sold last month - just over 300 - was nearly identical to July 2006, when the median price for single-family homes hit $900,000. Read More >>