Bad Year for Marin Condo Sales

By
Real Estate Agent with Decker Bullock Sothebys Realty

Year to date 2009 has been terrible year for condo sales in Southern Marin. As compared to 2005-2008, the pace of unit sale is off 70% the average of those years, and the average selling price per square foot is down close to almost 20% from its peak of 626$/sqft in 2007.

Tiburon condo sales are being hit the hardest with the price per square foot off 25% from its peak, and prices are off 41%.

Southern Marin

 

 

 

 

 

 

 

Units

Units ∆

Price 

Price ∆

$/sqft

$/sqft  ∆

2005

          137

 

    746,219

 

          584

 

2006

          100

-27%

    863,056

16%

          611

5%

2007

          103

3%

    858,300

-1%

          626

2%

2008

            69

-33%

    826,064

-4%

          594

-5%

2009

            37

-46%

    685,095

-17.1%

          516

-13%

 

 

 

 

 

 

 

Tiburon

 

 

 

 

 

 

 

Units

Units ∆

Price 

Price ∆

$/sqft

$/sqft  ∆

2005

            30

 

    964,533

 

          662

 

2006

            31

3%

 1,106,199

15%

          712

8%

2007

            31

0%

 1,196,774

8%

          721

1%

2008

            23

-26%

    973,283

-19%

          656

-9%

2009

              6

-74%

    709,333

-27%

          540

-18%

 

 

 

 

 

 

 

Mill Valley

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Units

Units ∆

Price 

Price ∆

$/sqft

$/sqft  ∆

2005

            56

 

    721,277

 

          572

 

2006

            46

-18%

    861,998

20%

          597

4%

2007

            37

-20%

    764,270

-11%

          589

-1%

2008

            24

-35%

    804,771

5%

          569

-3%

2009

            13

-46%

    696,154

-13%

          522

-8%

 

 

 

 

 

 

 

Sausalito

 

 

 

 

 

 

 

Units

Units ∆

Price 

Price ∆

$/sqft

$/sqft  ∆

2005

            51

 

    645,186

 

          558

 

2006

            33

-35%

    709,803

10%

          566

1%

2007

            35

6%

    657,924

-7%

          580

2%

2008

            22

-37%

    695,382

6%

          550

-5%

2009

            18

-18%

    669,028

-4%

          502

-9%

 

From Peak to Trough

 

 

 

 

Units ∆

Price ∆

$/sqft  ∆

Southern Marin

-73%

-21%

-18%

Tiburon 

-81%

-41%

-25%

Mill Valley

-77%

-6%

-13%

Sausalito

-65%

-6%

-13%

Now is a good time to buy a condo anywhere in Marin as the prices are discounted to such an extent that the normal premium for the Marin location & school system is virtually gone. Call me for more details on this. Dave DuPont 415-867-6611

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Anonymous
Sita

Dave, I have been currently looking for the last two months for a property in Marin county.  After reviewing your latest blog I am now considering broadening my search to include condos.  The information displayed is fascinating and extremely helpful to me and my research.  As soon as I get a little more serious I will contact you since it looks like you kow what you are talking about.  Thank you for the valuable information.

Sincerely,

Sita

Sep 08, 2009 02:08 PM #1
Rainer
5,700
Dave DuPont
Decker Bullock Sothebys Realty - Mill Valley, CA

Thanks for the feedback Sita! I am always available for questions at Dave@TheDupontGroup.net, and you can also find my most recent Market Updates at my website www.thedupontgroup.net .

Dave DuPont
The DuPon Group
415-867-6611

Sep 25, 2009 12:04 PM #2
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