Real Estate Report presented by Information Designs

The median sales price for single-family, re-sale homes reached a new high in October. The median price was up 12.6% year-over-year. The average sales price was up 9.7%.

Sales of single-family, re-sale homes in Marin County were up for the third month in a row, year-over-year, gaining 14.7%. There were 179 homes sold last month. Year-to-date, sales are off 4%.

Inventory increased for the fourth month in a row. It was up 34.5% over last October. Nevertheless, it is still far below the average. As of the 5th of November, there were 409 homes for sale. The average since January 2007 is 680.

Days of inventory fell to 69 from 76.

Days of Inventory reflects an estimate of the amount of time it would take to sell all of the current listings if no new listings became available. It is calculated by taking the number of homes for sale and dividing by the number of homes sold in a given time frame. We use last month’s sold number.

The sales price to listing price ratio stayed over 100% for the 9th month in a row: 101.4%. 

Homes sold quickly last month, averaging 38 days from coming onto the market to when they go under contract. The average since January 2009 is 80 days.

The median price for condos fell 10.5% from September. It was down 1.8%, year-over-year. The average price was up 0.9% from the prior month, but down 4.6% from last October.

Condo sales were up 11.1% compared to last October. Year-to-date, sales are off 4.4%.

Condos are selling in 38 days, compared to the average of 83 days.

The sales price to list price ratio for condos was 100.6%.

Condo inventory is up 26.1% from last October. There are only 111 condos for sale.

If you would like to know what’s going on in your neighborhood, click on Recent Sales & Listings. That will tell you what is for sale, what has sold and what is pending in a radius around your home.