Eichler Homes Real Estate Report - Spring 2009
With the first three months of 2009 behind us, I wanted to provide fellow Eichler & Alliance homeowners in Marin County with a summary of the market for our homes during the first quarter of 2009.
Eichler Home Sales in Marin
Year-to-date, a total of 9 Eichler homes have sold in Marin County. The least expensive Eichler home sold this year was a bank-owned home in Terra Linda which sold for $497,000. The most expensive Eichler sold for $955,000 and was located in Upper Lucas Valley. Only 1 Alliance home sold during the first 3 months of the year. Currently, there are a total of 24 Eichler & Alliance homes for sale in Marin County.
Looking at the broader housing market in Marin County, it's of interest to note that 83% of homes sold in Marin during the first 3 months of the year were priced under $1 million dollars (63% were below $700,000). This is a noteworthy statistic since this time last year the median home price in Marin was hovering near $1M.
Another interesting phenomena is that many listings in Marin that have gone into contract this year have fallen out of escrow. While homes fall out of contract for various reasons, the most common reasons I'm seeing include buyers inability to obtain financing (i.e. job loss, loss of bonus pay, tighter lending restrictions), home inspections revealing defects and buyers wanting perfection, and homes not appraising for the stated purchase price and buyer / seller unable to agree on a fair price as a result of the appraisal.
As we welcome in Spring and Summer, I anticipate buyer activity to pick-up (although buyers will continue to be more selective & price conscious). Within just the last few weeks, I’ve personally had three different Marin County Eichler homes go into contract so I’m hopeful that this activity is a sign of positive things to come.
Please call me at 1-415-EICHLER (415-342-4537) if I can assist you with your real estate needs in 2009!
Renee Ademann, Realtor & Owner
Marin Modern Real Estate / San Francisco Modern Real Estate