Archive for the ‘Marin Market Trends’ Category

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Marin home prices, sales shrink in Q3

Tuesday, October 9th, 2012

Marin home prices last quarter fell 5 percent over the previous, home sales shrank 2.5 percent during the same period.

Prices of single-family homes were down 5 percent in the three months ended September 30, 2012 compared with the second quarter 2012, according to BAREIS MLS® – the Marin MLS provider. Of the 13 cities we track, eight posted decreases, with an average home price of $993,380. Fairfax, Larkspur, Ross and Tiburon posted the biggest decreases. The pace of home sales for the quarter was down 2.5 percent.

Marin home prices were by and large unchanged in Q3 compared with last year, $993,380 vs. $992,294 in 2011. During the same period, the pace of Marin home sales was up 26 percent, 661 last quarter vs. 525 in 2011.

Area

Average

Sale Price

Percent

List Price

Total

Sales

Avg.

DOM
All Marin
 $993,380
98%
661
81
Belvedere
 $2,854,432
97%
11
54
Corte Madera
 $916,152
102%
21
58
Fairfax
 $599,635
99%
23
76
Greenbrae
 $1,191,596
99%
16
83
Kentfield
 $1,914,593
95%
14
58
Larkspur
 $1,193,449
98%
20
90
Mill Valley
 $1,257,054
99%
105
79
Novato
 $653,634
99%
 161
87
Ross
 $1,669,900
96%
12
82
San Anselmo
 $934,553
100%
51
73
San Rafael
 $793,413
99%
138
72
Sausalito
 $1,787,393
93%
14
99
Tiburon
 $1,699,973
97%
32
69

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Marin home prices, sales climb in Q2

Monday, July 9th, 2012

Marin home prices last quarter jumped 11 percent over the previous, home sales climbed a whopping 56 percent during the same period.

Prices of single-family homes rose 11 percent in the three months ended June 30, 2012 compared with the first quarter 2012, according to BAREIS MLS® – the Marin MLS provider. Of the 13 cities we track, nine posted increases, with an average home price of $1,050,927. Corte Madera, Fairfax, Greenbrae, Larkspur, Ross and San Anselmo posted the biggest increases. The pace of home sales for the quarter was up a whopping 56 percent.

Marin home prices were by and large unchanged in Q2 compared with last year, $1,050,927 vs. $1,055,172 in 2011. During the same period, the pace of Marin home sales was up 22 percent, 678 last quarter vs. 555 in 2011.

Area

Average

Sale Price

Percent

List Price

Total

Sales

Avg.

DOM
All Marin
 $1,050,927
98%
678
74
Belvedere
 $2,797,352
96%
11
102
Corte Madera
 $999,282
98%
33
64
Fairfax
 $721,011
101%
19
63
Greenbrae
 $1,201,439
99%
19
37
Kentfield
 $2,066,917
100%
24
49
Larkspur
 $1,344,140
99%
25
35
Mill Valley
 $1,189,766
98%
99
68
Novato
 $584,136
99%
 160
73
Ross
 $3,130,414
96%
14
82
San Anselmo
 $1,056,026
98%
67
66
San Rafael
 $681,478
99%
132
82
Sausalito
 $1,406,500
96%
18
59
Tiburon
 $1,861,424
95%
33
82

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Marin home prices down in Q1

Tuesday, April 10th, 2012

Marin home prices last quarter fell 1 percent over the previous, home sales shrank a notable 4.2 percent during the same period.

Prices of single-family homes were down 1 percent in the three months ended March 31, 2012 compared with the fourth quarter 2011, according to BAREIS MLS® – the Marin MLS provider. Of the 13 cities we track, seven posted decreases, with an average home price of $944,785. Corte Madera and Fairfax posted the biggest decreases. The pace of home sales for the quarter was down 4.2 percent.

Marin home prices were up 1 percent in Q1 ‘12 compared with last year, $944,785 vs. $936,862 in 2011. During the same period, the pace of Marin home sales was up 12.7 percent, 434 last quarter vs. 385 in 2011.

Area

Average

Sale Price

Percent

List Price

Total

Sales

Avg.

DOM
All Marin
 $944,785
95%
434
113
Belvedere
 $3,737,357
96%
7
188
Corte Madera
 $798,111
99%
9
98
Fairfax
 $486,867
96%
15
114
Greenbrae
 $998,500
97%
6
57
Kentfield
 $2,610,833
89%
6
88
Larkspur
 $1,105,711
93%
19
95
Mill Valley
 $1,178,825
96%
55
91
Novato
 $569,767
97%
 95
103
Ross
 $1,034,000
94%
5
93
San Anselmo
 $747,420
95%
33
92
San Rafael
 $716,595
95%
102
111
Sausalito
 $1,349,231
98%
13
113
Tiburon
 $1,915,182
93%
28
92

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Mortgage rates jump reversing 3 week trend

Thursday, January 26th, 2012

Fixed mortgage rates climb as the housing market ended 2011 on a high note. Still, this marks the eighth consecutive week 30-year below 4 percent.

Freddie Mac today released the results of its Primary Mortgage Market Survey in which the 30-year fixed-rate mortgage (FRM) averaged 3.98 percent with an average 0.7 point for the week ending January 26, 2012, down from last week when it averaged 3.88 percent. Last year at this time, the 30-year FRM averaged 4.8 percent.

Frank Nothaft, vice president and chief economist at Freddie Mac, reports, “Fixed mortgage rates ticked up this week as the housing market ended 2011 on a high note. New construction of one-family homes rose 4.4 percent in December to an annualized rate of 470,000, the most since April 2010. Existing home sales increased 5.0 percent at the end of the year to 4.61 million houses, the largest amount since May 2010. Furthermore, pending home sales in November and December averaged the highest reading since the March and April 2010 period.”

Mortgage Rates 1-26-12
Primary Mortgage Market Survey [Freddie Mac]

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Marin home prices up in December

Wednesday, January 4th, 2012

Marin home prices last month rose 3 percent over the previous, home sales shrank a notable 13.5 percent during the same period.

Prices of single-family homes were up 3.1 percent in December compared with November, according to BAREIS MLS® – the Marin MLS provider. Of the 13 cities we track, eight posted increases, with an average home price of $951,328. Corte Madera, Fairfax and Tiburon posted the biggest monthly increases. The pace of home sales for December was down 13.5 percent, 141 vs. 163 in November.

Marin home prices were down 2.3 percent in December compared with last year, $951,328 vs. $973,910 in December 2010. During the same period, the pace of Marin home sales was down 10 percent, 141 last month vs. 157 in 2010.

Area

Average

Sale Price

Median

Sale Price

Total

Sales

Avg.

DOM
All Marin
 $951,328
$675,000
141
99
Belvedere
 $2,910,833
$3,652,500
3
144
Corte Madera
 $1,002,188
$970,000
8
90
Fairfax
 $735,000
$586,750
4
120
Greenbrae
 $796,000
$796,000
1
115
Kentfield
 $1,368,750
$1,497,500
4
59
Larkspur
 N/A
N/A
0
N/A
Mill Valley
 $1,196,800
$818,000
18
97
Novato
 $588,137
$512,000
 35
95
Ross
 $425,000
$425,000
1
33
San Anselmo
 $814,584
$725,000
13
93
San Rafael
 $668,194
$637,000
33
97
Sausalito
 $1,483,200
$1,825,000
5
105
Tiburon
 $2,117,143
$1,800,000
7
143

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Mortgage rates finish year near all-time lows

Thursday, December 29th, 2011

Fixed mortgage rates finishing the year near their all-time historic lows helping to keep homebuyer affordability high. Averaging 3.95 percent, the 30-year fixed has been at or below 4 percent for the past nine consecutive weeks and only twice in 2011 did it average above 5 percent.

Freddie Mac today released the results of its Primary Mortgage Market Survey in which the 30-year fixed-rate mortgage (FRM) averaged 3.95 percent with an average 0.7 point for the week ending December 29, 2011, down from last week when it averaged 3.91 percent. Last year at this time, the 30-year FRM averaged 4.86 percent.

Frank Nothaft, vice president and chief economist at Freddie Mac, reports, “Mortgage rates ended the year hovering near historic lows in an already affordable housing market. For instance, the seasonally-adjusted S&P/Case-Shiller® 20-City Composite home price index in October was the lowest seen since March 2003. The largest hit areas were Las Vegas with the lowest reading since January 1997 and Atlanta which was since June 1998. It’s not surprising then that over 5 percent of households in December plan to purchase a home over the next six months, the highest share since May, according to The Conference Board.”

Mortgage Rates 12-29-11
Primary Mortgage Market Survey [Freddie Mac]

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Marin home prices fall in November

Wednesday, December 7th, 2011

Marin home prices fell 8.45 percent last month over previous month, the number of home sales was up 8.6 percent during the same period.

Prices of single-family homes were down 8.45 percent in November compared with October, according to BAREIS MLS® – the Marin MLS provider. Of the 13 cities we track, six posted decreases, with an average home price of $922,448. Larkspur, Mill Valley and San Anselmo posted the biggest monthly decreases. The pace of home sales for November was up 8.6 percent, 163 vs. 150 in October.

Marin home prices were down 20 percent in November compared with last year, $922,448 vs. $1,153,273 in November 2010. During the same period, the pace of Marin home sales was up 11 percent, 163 last month vs. 147 in 2010.

Area

Average

Sale Price

Median

Sale Price

Total

Sales

Avg.

DOM
All Marin
 $922,448
$737,000
163
96
Belvedere
 $3,550,000
$3,550,000
1
41
Corte Madera
 $856,563
$806,000
8
108
Fairfax
 $564,900
$435,000
5
118
Greenbrae
 $998,000
$995,000
5
44
Kentfield
 $2,149,674
$1,743,370
5
78
Larkspur
 $1,180,400
$1,350,000
5
67
Mill Valley
 $1,086,023
$892,000
22
91
Novato
 $567,196
$491,000
 35
80
Ross
 $835,000
$835,000
2
150
San Anselmo
 $804,311
$563,425
11
117
San Rafael
 $668,159
$647,500
34
107
Sausalito
 $1,446,273
$1,465,000
11
141
Tiburon
 $1,450,792
$1,187,500
12
70

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30-year below 4 percent four weeks straight

Wednesday, November 23rd, 2011

Fixed mortgage rates changing little and remaining near their historic lows while adjustable-rate mortgages averaged new record lows.

Freddie Mac today released the results of its Primary Mortgage Market Survey in which the 30-year fixed-rate mortgage (FRM) averaged 3.98 percent with an average 0.7 point for the week ending November 23, 2011, down from last week when it averaged 4 percent. Last year at this time, the 30-year FRM averaged 4.40 percent.

Frank Nothaft, vice president and chief economist at Freddie Mac, reports, “Mortgage rates eased slightly this week with fixed-rate loans hovering above all-time lows and ARMs reaching a new nadir. The high-degree of home-buyer affordability in recent months translated into a 1.4 percent pickup in existing home sales during October, according to the National Association of Realtors (NAR). The NAR also reported that contract cancellations were up in October as well, which restrained sales from achieving a stronger rebound.”

Mortgage Rates 11-23-11
Primary Mortgage Market Survey [Freddie Mac]

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Marin home prices flat in October

Wednesday, November 9th, 2011

Marin home prices were by and large unchanged in October compared to the month before, gain of 6.7 percent from the previous year.

Prices of single-family homes were down .62 percent in October compared with September, according to BAREIS MLS® – the Marin MLS provider. Of the 13 cities we track, six posted decreases, with an average home price of $1,007,678. Fairfax, Greenbrae, Kentfield and Tiburon posted the biggest monthly decreases. The pace of home sales for October was down 10 percent, 150 vs. 167 in September.

Marin home prices were up 6.7 percent in October compared with last year, $1,007,678 vs. $944,592 in October 2010. During the same period, the pace of Marin home sales was identical, 150 last month vs. 150 in 2010.

Area

Average

Sale Price

Median

Sale Price

Total

Sales

Avg.

DOM
All Marin
 $1,007,678
$752,500
150
83
Belvedere
 $2,430,000
$2,430,000
2
23
Corte Madera
 $835,400
$817,500
8
73
Fairfax
 $604,250
$515,750
6
77
Greenbrae
 $932,500
$932,500
2
99
Kentfield
 $1,651,250
$1,475,000
4
23
Larkspur
 $1,302,971
$1,250,000
8
44
Mill Valley
 $1,226,040
$1,049,000
25
77
Novato
 $526,559
$520,000
 35
102
Ross
 $8,325,000
$8,325,000
2
90
San Anselmo
 $1,084,491
$848,000
7
72
San Rafael
 $724,830
$700,000
33
98
Sausalito
 $1,268,750
$970,000
4
112
Tiburon
 $1,561,570
$1,300,000
5
53

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Mortgage rates remain near 60-year lows

Thursday, October 27th, 2011

Fixed mortgage rates changing little amid mixed consumer confidence and housing data, remaining near their 60-year lows.

Freddie Mac today released the results of its Primary Mortgage Market Survey in which the 30-year fixed-rate mortgage (FRM) averaged 4.10 percent with an average 0.8 point for the week ending October 27, 2011, down from last week when it averaged 4.11 percent. Last year at this time, the 30-year FRM averaged 4.23 percent.

Frank Nothaft, vice president and chief economist at Freddie Mac, reports, “Fixed mortgage rates followed other long-term interest rates and showed little change, on average, from the prior week. The latest monthly housing market indicators were mixed, with consumer confidence soft, house prices largely flat, and new home sales up from very low levels. Consumer confidence fell below the market consensus forecast in October to the lowest reading since March 2009, according to The Conference Board. The FHFA Purchase-Only House Price Index for the U.S. declined 0.1 percent in August on a seasonally adjusted basis, while the S&P/Case-Shiller® 20-city Composite home price index rose 0.2 percent between July and August, with one-half of the cities registering a dip in values. Finally, new home sales increased 5.7 percent in September to the strongest pace since April.”

Mortgage Rates 9-29-11
Primary Mortgage Market Survey [Freddie Mac]

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