Home prices in many markets have now surpassed the 2007 peak including Marin County Real Estate where the inventory as of March was remarkably low at 72% less than the inventory level in 2007.
Inventory of existing homes sales remained low nationwide and a recent report by RealtyTrac shows that U.S. home sellers in March had the highest average price gain in any month since December 2007 at the onset of the Great Recession.
Sellers on average sold for $30,500 more than they purchased for, a 17 percent average gain in price and homes in San Francisco and San Jose had the biggest average gain in the country.
Among 125 metropolitan statistical areas with at least 300 sales in March, home sellers realized the biggest average gains compared to purchase price in San Francisco (72 percent average gain); San Jose, Calif. (60 percent); Boulder, Colo. (53 percent); Prescott, Ariz. (51 percent); and Los Angeles (48 percent).
Other markets with average seller gains more than twice the national average in March were Denver (42 percent); Portland (40 percent); Austin, Texas (40 percent); Seattle (38 percent); Baltimore (38 percent); Riverside-San Bernardino, California (37 percent); San Diego (36 percent); and Sacramento (35 percent).
The RealtyTrac Home Sales report is based on publicly recorded sales deeds collected and licensed by RealtyTrac in more than 900 counties nationwide accounting for more than 80 percent of the U.S. population.
Calif. median home price: March 2015:
- California: $483,280
- Calif. highest median home price by region/county: San Francisco, $1,360,580
- Calif. lowest median home price by region/county: Merced, $189,500
Behzad Zandinejad
Broker Associate
A Top Producing Agent for 2015
BRE#01175448
Decker Bullock Sotheby’s International Realty
100 Tiburon Blvd, Mill Valley, CA.94941
Tel:415-793-0015
Marin County Real Estate Report