Marin home prices up 18 percent last month over previous month, the number of home sales gain 62 percent during the same period.
Prices of single-family homes were up 18 percent in March compared with February, according to BAREIS MLS® – the Marin MLS provider. Of the 13 cities we track, ten posted increases, with an average home price of $1,042,128 for Marin County. The pace of home sales was up 62 percent for the same period.
The average selling price for a single-family home in Marin dropped to $937,817 in the three months ended March 31, 2011, down 8.3 percent from the previous quarter. Marin home sales declined 15 percent during the same period.
Marin home prices were up 13.5 percent in March compared with the same month last year. During the same period, the number of Marin home sales was up 18 percent, 175 last month vs. 148 in March 2010.
When the majority of the country is reporting home prices nearing new lows, Marin County is experiencing quite the opposite. Marin home prices in March hit a new record for the year, and tracking slightly above last year’s impressive $1,035,000 average which was up nearly 4 percent from the previous year. While the U.S. housing market recession is not yet over, the statistics in Marin are indicating a form of sustained recovery with real hope in sight for the near future.