Bad Year for Marin Condo Sales

By
Real Estate Agent with Decker Bullock Sothebys Realty #01355045

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
7,275
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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Rainer
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Dave DuPont

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